Ann: Parker Range Project Environmental Approvals, page-4

re: Ann: Parker Range Project Environmental A... ok, they have been busy... new website, epa approval.. ministerial talks etc etc..

funding will be my number one concern....

gl all


Cazaly Resources gets environmental nod for Parker Range iron ore project
by: Amy Wilson-Chapman
From: PerthNow April 26, 2012 11:56am


CAZALY Resources is one step closer to selling its Parker Range iron ore project after getting environmental approval from the State Government.

The iron ore explorer today announced it received final environmental approval for the Yilgarn development.

“The approval… is a significant milestone for the project and the company and represents the culmination of well over 12 months work by Cazaly,” it said.

Shares in the company jumped 3.3 per cent, or 1c, to 30c on the news at 1114 AWST today.

Last year the company announced it had entered into an agreement to sell its project, for a total of $95 million plus royalties, to a major South East Asian investment group, however due diligence is still continuing.

That sale was dependent on the project getting Environmental Protection Authority approval.

While that box may now be ticked, the mining company must still receive mining approval, project finance, contract mining agreements and foreign investment review board approval if necessary.

It must also execute agreement for port access, which hit a major stumbling block last year when it was denied access to Fremantle Port.

But, in the company’s December quarterly report, it also celebrated the Transport Minister’s January announcement to increase Esperance Port’s capacity by 20 million tonne a year.

“(It) further enhances the economic value of the Parker Range project,” it said.