CRL: Mount Margaret Copper Project update

COMET RESOURCES LIMITED

• Comet Resources Ltd announces the discontinuation of the proposed acquisition of the Mount Margaret Copper Project due to adverse market conditions.
• The company will seek re-instatement of its shares to trading with its current assets, subject to ASX review and approval.
• All application funds submitted under the Prospectus will be refunded to applicants with no need to request a refund.

2023-05-24 17:24:00

CRL: CRL Acquisition - Strategic Qld Copper Project from Glencore

COMET RESOURCES LIMITED

• Comet to acquire 100% of Mt Margaret Copper Project from Glencore.
• Company to raise $27m to fund acquisition and initial post-acquisition pre-development activities.
• Glencore to provide 3-year loan of $27m to Comet, substantially reducing up front dilution for Comet shareholders.

2023-02-21 13:37:00

CRL: UPDATE ON MOUNT MARGARET COPPER PROJECT ACQUISITION

COMET RESOURCES LIMITED

1. The agreement between Comet Resources Limited (Comet) and Glencore plc (Glencore) for the acquisition of Mount Margaret contained conditions precedent which were required to be met by 2 December 2022.
2. As the conditions precedent were not capable of being satisfied, the Company and Glencore have now agreed an extension to 31 March 2023.
3. The timetable for the close of the transaction will be updated in a future announcement once the Company has received further feedback from the ASX.

2023-01-05 10:56:00