Comet Resources Limited (ASX: CRL) provided an update on the proposed acquisition of the Mount Margaret Copper Project from Glencore PLC. The contract between the Comet Resources and Glencore for the acquisition of Mount Margaret has some conditions precedent, which were required to be met by 02 December 2022. As the conditions precedent were not being satisfied, the company and Glencore have now agreed on an extension to 31 March 2023.
The company is engaged in discussions with ASX regarding the extension and other proposed changes to the transaction's structure. The timeline for the close of the transaction previously disclosed in the company’s press release of 25 November 2022 will be updated in a future announcement once the company will receive further feedback from the ASX.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.