Cazaly Resources
Cazaly Resources share prices soared at the Australian stock exchange after its announcement to team up with Fortescue Metals to mine the iron in Pilbara region in Western Australia. It has obtained the documents for renewal process of the land by Rio Tinto under the Freedom of Information Act. It now claims that there are several defects in the renewal process that leaves the land open for rights to occupancy. However, Rio Tinto has strongly objected to any such allegations.
Cazaly Resources (CAZ) a gold explorer was the biggest loser of the week, down 76% on the loss of an exploration licence. The WA government made a decision to take one of their licences off them to hand back to Rio Tinto (RIO). Echelon Resources was also affected by this.
Name: Cazaly Resources Limited Ordinary
ASX Code: CAZ
Cazaly Resources is an Australian based mineral resources company with a strong focus on gold, nickel and copper and was floated on the ASX in October 2003. The company controls a portfolio of ground prospective for gold and base metals mostly situated within Western Australia. Cazaly has the Quartz Hill uranium project in the Hart's Range, Northern Territory.
Company URL: www.cazalyresources.com.au
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