Gondwana's interest in Cazaly's iron ore project gets green...

Gondwana's interest in Cazaly's iron ore project gets green light.....good for Cazaly - good for Gondwana....

CAZ about to come out of their Trading Halt following the release of the announcement just now....

"CAZALY RESOURCES LIMITED
PRE-FEASIBILITY STUDY CONFIRMS ROBUST
PROJECT ECONOMICS FOR PARKER RANGE
Highlights
Pre-Feasibility Study confirms technical and economic viability of the Parker
Range Iron Ore Project in the Yilgarn region of Western Australia
Expected NPV of A$216m with IRR 78% for contract operations option
Revenue based on independent price forecasting and not spot iron ore prices
Up front capital costs of A$78m plus A$26m deferred until year 3
Estimated operating costs of A$45/t of shipped product
Global resource 40.4 Mt @ 53.8% Fe (59.1% CaFe), 90% Indicated category
Total production of 22.0 Mt target fines product grading 56.6% Fe (62.2% CaFe)
Preferred option produces 4 Mtpa transported by Road-Rail to Port of Kwinana for
initial 5.5 years minelife
Metallurgical bridging program to commence with early DFS Activities
First ore on ship (FOOS) planned for Q3/2011
Strategic partner discussions underway
Cazaly Resources Limited (ASX:CAZ) is pleased to announce the positive results of a Pre-Feasibility
Study (PFS) into the development of its 100% owned Parker Range Iron Ore Project located in the
Yilgarn region of Western Australia.
The study indicates very robust economics for the project which greatly benefits from its close location
to existing and accessible infrastructure including road, rail, port, power and township. This access
allows for the relatively rapid development and ramp up to full production of 4 Mtpa within 1.5 years........."

See full announcement