Update on Calidus Resources Limited and Receivers and Managers' announcement

Calidus Resources Limited (ASX: $CAI) has provided an update through the Receivers and Managers, seeking urgent expressions of interest for the acquisition and/or recapitalisation of the company. The opportunity includes the acquisition of project assets such as the Warrawoona project, the Nullagine project, and other satellite deposits. Additionally, the Receivers and Managers have commenced the processing of low-grade ROM stock and are evaluating a decision to mine and process additional ore from Blue Bar.

Receivers and Managers' Update

The Receivers and Managers of Calidus Resources Limited have initiated the process of seeking urgent expressions of interest for the acquisition and/or recapitalisation of the company. This includes the potential acquisition of project assets, offering interested parties the opportunity to participate in the sale process. Furthermore, the processing of low-grade ROM stock has commenced, with an expected completion by the end of the calendar year, generating positive cash flows. Additionally, the evaluation of a decision to mine and process additional ore from Blue Bar is underway.

Summary of Receivers and Managers' update and outlook

Calidus Resources Limited, through the Receivers and Managers, has announced the commencement of the sale/recapitalisation process, inviting urgent expressions of interest for the acquisition and/or recapitalisation of the company. The ongoing processing of low-grade ROM stock is expected to generate positive cash flows upon completion by the end of the calendar year. Furthermore, the evaluation of mining and processing additional ore from Blue Bar demonstrates the company's commitment to maximizing operational potential. With $19.2M of cash and $11.0M of bullion held at 30 June 2024, the company aims to navigate its trading liabilities and accruals while leveraging its gold projects in the East Pilbara district of Western Australia for future growth and sustainability.