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Strike Resources Limited (ASX:SRK)

ALERT: Price-sensitive ASX Announcement for SRK
Current share price for SRK : $0.023 -0.018 (-43.90%)+
Announcement
Release
17 Mar 2026 6:54PM
Price at Release
$0.041
Full Release
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Summary
Strike Resources Limited (ASX:SRK) has entered into an agreement with JE United Ltd (JEL) to sell a 28.52% indirect interest in Apurimac Ferrum S.A.C. (AF), owner of the Apurimac Iron Ore Project in Peru, for A$5.5 million. This transaction will increase JEL's total interest in AF to 48.52%. The sale is structured through the disposal of Strike's wholly-owned subsidiary, Strike Finance Pty Ltd, which holds shares in AF. The sale includes a US$5 million credit facility from JEL to support the project's development, with further financial contributions from both Strike and JEL. The transaction is expected to provide strategic benefits by unlocking funds for the project's development while avoiding dilution of existing shareholders. Completion of the sale is contingent on certain conditions that must be satisfied by March 2027, such as the execution of a marketing agreement granting JEL exclusive rights to market iron ore from the project until the credit facility is repaid.
Key Points
  • Sale of 28.52% indirect interest in Apurimac Ferrum S.A.C. to JEL for A$5.5 million.
  • JEL's total interest in AF increases to 48.52%.
  • Transaction includes a US$5 million credit facility from JEL.
  • Funds will support development of the Apurimac Iron Ore Project.
  • Sale structured through the disposal of Strike Finance Pty Ltd.
  • Financial contributions expected from Strike and JEL.
  • Strategic benefits include avoiding shareholder dilution.
  • Marketing agreement grants JEL exclusive rights to sell iron ore.
  • Conditions must be satisfied by March 2027 for completion.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.