Cyclone Metals plunges as market views divestiture negatively

Iron Bear Resources

14/07/2023 01:39

** Shares of Australia's Cyclone Metals  CLE.AX  fall 25% to
A$0.0015
    ** The mineral explorer announces a divestment of its
non-core gold assets
    ** Enters term sheet for sale of tenements of its Nickol
project in Western Australia and projects across north and south
islands of New Zealand
    ** Adds sale will provide A$4 million ($2.75 million) of
liquid assets to co
    ** Stock has risen 33.3% this year, as of last close 


($1 = 1.4533 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))