Fe Limited (ASX:FEL) will receive cash from the exercise of 1.25 million options priced at $0.03.
The options were due to expire 30 November 2018.
READ: Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project
The company is focused on the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.
Kasombo contains three mineralised areas within two granted mining licenses.
Fe Limited's objectives are to complete a feasibility study on Kasombo within 18 months and commence mining activities as soon as practical.