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    Strike Resources (ASX:SRK) completes sale of Paulsens East Iron Ore Project

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    Strike Resources completed the sale of its Paulsens East Iron Ore Project, receiving a $20.5 million cash consideration.

    The company received a $2 million deposit upon executing the sale agreement in December 2023, followed by an $18 million payment after the sale in March.

    During the transaction, Strike also discharged a US$7.2 million ($11.3 million) loan. A final deferred consideration amount of $500,000 is still pending receipt.

    Strike is prioritising the advancement of the Apurimac Iron Ore Project, including appointing a full-time CEO for operations in Peru and engaging with local stakeholders to recommence mining activities.

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