CuFe Limited reports annual loss and plans strategic change

CuFe Limited (AU:CUF) has released an update.

CuFe Limited reported a net loss of $13.62 million for fiscal year 2024, primarily due to non-cash depreciation and operational challenges such as weather disruptions and a decline in iron ore prices. The Company aims to divest its JWD mining rights and focus on promising copper and iron ore exploration and development projects. Shareholders are scheduled to vote on the planned sale of JWD operations on October 10, 2024.

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