CuFe Ltd (ASX:CUF) entered a binding agreement to acquire 40% stake in Mining Rights of Gold Valley Iron Ore in Wiluna West JWD from Gold Valley Iron Ore Pty. Ltd. for AUD 2.4 million on February 22, 2023. The CuFe holds a 60% interest in the JWD Project via its subsidiary Wiluna Fe Pty Ltd as operator of the joint venture. In consideration for the assignment of GVIO?s 40% interest, CuFe will issue 150 million CUF shares to GVIO and refund GVIO for historical joint venture cash contributions made by GVIO under the JWD Joint Venture. The effective date for the transaction and determining the Cash Consideration is deemed to be January 1, 2023. The AUD 1.32 million payable to GVIO will be adjusted by cash paid by GVIO offset by amounts paid to GVIO under the JWD Joint Venture, subsequent to the effective date and prior to completion of the transaction. The transaction is subject to CuFe obtaining shareholder approval, CuFe and GVG obtaining approvals of financiers and other third parties as required. On March 17, 2023, CuFe Ltd (ASX:CUF) entered into an agreement to acquire 40% stake in Mining Rights of Gold Valley Iron Ore in Wiluna West JWD from Gold Valley Iron Ore Pty. Ltd.

CuFe Ltd (ASX:CUF) completed the acquisition of 40% stake in Mining Rights of Gold Valley Iron Ore in Wiluna West JWD from Gold Valley Iron Ore Pty. Ltd. on September 1, 2023.