Cazaly shares jump 20% on Parker Range prospects

Cazaly shares jump 20% on Parker Range prospects

Shares in gold and iron ore explorer Cazaly Resources (ASX:CAZ) have jumped over 20% since the company announced a successful pre-feasibility study of its Parker Range iron ore project.

Cazaly said it estimated the project’s value at $216 million, with a full production potential of 4 megatons per anum. The first shipment is planned for Q3 2011.

The upfront capital costs have been estimated at $78 million, plus $26 million deferred until year three of the project.

Since making the announcement, CAZ shares have climbed 20.4% to $0.32, after rising 3.8% yesterday to $0.27.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags miningforecastCazaly Resources

Show Comments