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Shovelanna iron ore grab

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 its licence for the tenement. Rio has formally asked State Development Minister Alan Carpenter to exercise his discretion under a section of the Mining Act to refuse the application for Shovelanna on the grounds of “public interest”. Cazaly lodged an exploration license application for the tenement, located about 25 kilometres east of Mt Newman, on September 7 after the exploration licence held by previous owners, Hamersley Resources Limited (a subsidiary of Rio Tinto), Wright Prospecting and Hancock Prospecting, expired on August 26. Since lodging the application for the licence, Cazaly announced that it had entered into an agreement with Echelon Resources to provide technical capabilities and to fund a $2.5 million drilling program on the Shovelanna Iron Ore Project. Cazaly and Echelon intend to commence an initial drilling program once the application is granted.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
30thRed Emperor Resources160%1%
71stCentaurus Metals74%-47%
498thHammer Metals-23%-22%
605thCazaly Resources-40%-29%
635thMEC Resources-44%-26%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

21/08/18
$0 Other
27/03/18
$39k Bought
08/01/18
$6k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

246th↑MEC Resources$123k
247th↓Centaurus Metals$123k
248th↓Cazaly Resources$120k
249th↑Red Emperor Resources$120k
250th↑Hammer Metals$114k
512 listed resources companies ranked by revenue.
Source: Morningstar

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