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.

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Tags miningforecastCazaly Resources

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