Emerging iron ore play Cazaly Resources ’ shares posted their biggest gain in over a year after it reported a pre-feasibility study into the development of its 100 per cent-owned Parker Range iron ore project in Western Australia’s Yilgarn region indicated strong economic conditions for the project.

The project 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 million tonnes a year within 1½ years.