Comet Resources Limited provided an update on the proposed acquisition of the Mount Margaret Copper Project (Mount Margaret) from Glencore plc (Glencore). The agreement between the Company and Glencore for the acquisition of Mount Margaret contained conditions precedent which were required to be met by 2 December 2022. As the conditions precedent were not capable of being satisfied, the Company and Glencore have now agreed an extension to 31 March 2023.

Once that information is available Managing Director, Matthew O'Kane, will hold an investor webinar to explain the status of the transaction and answer questions from shareholders.