re: ... serious .. blue sky .40 to 2.30
[Dow Jones] Investors take renewed heart in Cazaly Resources (CAZ.AU), which roars back into contention as punter's favorite, jumping to 67 cents, before easing, last up 58% at 64 cents on 23.2 million shares. CAZ run might be over for today, but plenty to think about following issue of opinion prepared by Wayne Martin QC that found no legal basis for decision by WA Resources Minister John Bowler to reject CAZ's application for Shovelanna iron ore tenement in favor of Rio Tinto (RIO.AU). CAZ could "obtain either declaratory or prerogative relief" for decision, says Martin, who adds minister's "purported exercise of the powers to be invalid." CAZ planning to lodge application possibly this week for WA Supreme Court to review minister's decision. (RCB)
CAZ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
