Calidus Resources (ASX: $CAI) Receivers and Managers Appointment Update

Calidus Resources Limited (ASX: $CAI) has announced the appointment of Receivers and Managers to oversee the transition of its Warrawoona operations into care and maintenance. The decision follows the appointment of Voluntary Administrators to the Group on 28 June 2024. The Receivers and Managers will conduct a processing run over the next 12 days to process ROM stock and ensure the preservation of value in the Group's fixed assets during the three-week transition period.

Executive Commentary on Transition and Sale Process

The Receivers and Managers have been appointed to oversee the transition of our Warrawoona operations into care and maintenance. This decision is part of a detailed plan to preserve the value of the Group's fixed assets. In parallel, we have initiated a dual-track recapitalisation and sale process to explore opportunities for the Group's future. Interested parties are encouraged to contact the Receivers and Managers to participate in this process.

Summary of Appointment and Future Plans

Calidus Resources Limited (ASX: $CAI) has taken significant steps by appointing Receivers and Managers to facilitate the transition of its Warrawoona operations into care and maintenance. The company aims to preserve the value of its fixed assets during this period. Simultaneously, a dual-track recapitalisation and sale process has been initiated to explore potential opportunities for the Group's future. This strategic move reflects the company's commitment to navigating through the current challenges and seeking viable pathways for its operations and stakeholders.