ASX-listed Cazaly Resources has agreed to divest of its Parker Range iron-ore project, in Western Australia, for A$13-million plus royalties.
The agreement with privately held diversified company Gold Valley Iron allows for an initial three-month due diligence and exclusivity period, with Cazaly receiving an additional A$50 000 exclusivity fee and Gold Valley Iron subscribing for 10-millions hares in the company at a price of 3c each.