Leederville-based Cazaly Resources has failed to wrest control of the Rhodes Ridge tenements, which contain billion of dollars of iron ore, from mining giant Rio Tinto.
Cazaly Resources will raise $4 million through a private deal with an unnamed Chinese company, as it looks to advance Parker Range iron ore project in the Yilgarn region.
Cazaly Resources has secured engineering firm, Lycopodium to complete the pre-feasability study at the Parker Range Iron Ore Project, located in the Yilgarn district of Western Australia.
Cazaly Resources Ltd will consider taking its fight with Rio Tinto Ltd over the Shovelanna iron-ore tenement to the High Court of Australia after the Supreme Court of Western Australia dismissed Cazaly's appeal to wrest back control of the tenement.
Leederville-based gold explorer Cazaly Resources Ltd has announced plans to raise up to $3.4 million to fund additional exploration and working capital through a placement to institutional investors.
Shares in iron ore minnows Cazaly Resources Ltd and Echelon Resources Ltd, which surged suddenly yesterday, fell after the release of a note on their legal progress.
Shares in iron ore minnows Cazaly Resources Ltd and Echelon Resources Ltd had a bumper day on the ASX, gaining 31 per cent and almost 26 per cent respectively.
Cazaly Resources Ltd has told its annual general meeting that its controversial legal moves were simply an attempt to gain some transparency regarding the decision to terminate its application for the Shovelanna iron ore tenement.
Cazaly Resources Ltd has advise the stock market that its appeal regarding its loss of the Shovelanna iron ore tenement to Rio Tinto Ltd will take place in March.
WA mining minnow Cazaly Resources Ltd has announced the next stage in its battle to secure rights over the Shovelanna deposit in the state's Pilbara region, confirming today that it has applied for a judicial review of the case.
While the rise and fall of opportunist Pilbara iron ore aspirant Cazaly Resources Ltd has won and lost sharemarket punters millions of dollars, its battle for the Shovelanna deposit is destined for the courts for months, possibly years.
TheWA government's unexplained rejection of Cazaly Resources Ltd's claim to the Shovelanna iron ore deposit in the Pilbara could deflect investment from the state's resources sector and, for the first time, raised the real spectre of sovereign risk.
Western Australian iron ore junior Cazaly Resources Ltd faces troubled times ahead in the wake of the state government's decision over the Shovelana iron ore lease.
Fortescue Metals Group Ltd has confirmed it has started legal action iagainst a Cazaly Resources Ltd, marking an escalation in the dramatic events surrounding the Shovelanna iron ore tenement which has dragged in several major players.
With all the attention on Cazaly Resources Ltd, some may have overlooked its junior partner in the Shovelanna project, Echelon Resources Ltd, which has been swept along for the ride.
Cazaly Resources made a submission to the state government challenging its decision to reject its exploration license application for the Shovelanna Iron Project held by Rio Tinto, Wright Prospecting Pty Ltd and Hancock Prospecting Pty Ltd.
INTENSE competition between Cazaly Resources and Rio Tinto has emerged over the Shovelanna iron ore deposit in the Pilbara after Cazaly lodged an exploration licence when Rio recently failed to renew
