GWR Group Submits Bid for 'Significant' Transaction in Western Australia; Shares Rise Above 3%

MT Newswires Live

Feb 17, 2025

GWR Group (ASX:GWR) submitted a non-binding indicative offer for a "significant" transaction in Western Australia, with due diligence currently underway, according to a Monday Australian bourse filing.

The firm is advancing its Prospect Ridge magnesite project in Tasmania and has evaluated a number of potential transactions that could generate significant value for shareholders, the filing said. It submitted nonbinding indicative offers for major transactions in Australia.

It is targeting advanced projects with established resources and reserves, focusing on commodities, including gold, copper, silver, antimony, rare earth elements, iron ore, bauxite, niobium, coal, lithium, and tantalum, per the filing.

The firm's shares rose past 3% in recent trading on Monday.

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