Centrex Metals move from iron ore interests to fertiliser

Company News

by Rachael Jones

Centrex Metals (ASX:CXM) has entered into a contract with local rural investment business FREE Eyre Limited for the sale of its Port Spencer land holding for $1.4 million.

The sale is expected to complete in late February subject to satisfaction of settlement conditions.

The land sale completes the exit of its iron ore interests and transformation to a fertiliser business.

The sale will also provide additional funds to support the ongoing development of the Company’s flagship Ardmore Phosphate Rock Project in North West Queensland which is fast approaching production stage.

Shares in Centrex Metals (ASX:CXM) last traded at $0.12.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.