Tombador Iron Limited (ASX: $TI1) completed the sale of its Tombador Iron Ore Project in Bahia State, Brazil on 31 December 2023. The company sold 33,800 wet metric tonnes (wmt) of high-grade product from 1 October up to 31 October 2023 and had cash holdings of AUD$8.6m as at 31 December 2023, with the first sales payment of AUD$1.2m received in early January 2024.
The sale of the Tombador Iron Project was approved by shareholders on 27 December 2023 and completed on 31 December 2023. The Company is currently in voluntary suspension as it has sold its main undertaking and is considering its options for relisting or returning capital to shareholders.
Tombador Iron Limited (ASX: $TI1) successfully completed the sale of its Tombador Iron Ore Project in Bahia State, Brazil. The company sold 33,800 wet metric tonnes (wmt) of high-grade product and had cash holdings of AUD$8.6m as at 31 December 2023. The sale was approved by shareholders and the company is now in voluntary suspension, evaluating options for relisting or returning capital to shareholders.