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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 29/03/18

1 year TSR5 year TSR
53rdHampton Hill Mining187%-5%
452ndCazaly Resources-0%-22%
469thHigh Peak Royalties-3%-31%
766thIndiana Resources-62%31%
801stRed Mountain Mining-71%-66%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

27/03/18
$39k Bought
08/01/18
$6k Bought
08/01/18
$30k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

151st↑Cazaly Resources$396k
181st↓Indiana Resources$248k
182nd↑Hampton Hill Mining$245k
184th↓Red Mountain Mining$233k
185th↑High Peak Royalties$230k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Cazaly Resources

439thClive Jones$180k
630thNathan McMahon$180k
Ranked by total remuneration from all listed WA companies

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