Cazaly Resources Spin Out to List on ASX

THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) announced that Tara French has transitioned into the role of managing director of the company.

French steps into the role at an important time for the company as it prepares for the proposed divestment of the jointly owned Hamersley Iron Ore Project and subsequent listing of spin ot company Equinox Resources (ASX: EQN).

Equinox Resources has been admitted to the Official List of the ASX with commencement of trade of its securities anticipated for launch at 10:00am (WST) on Wednesday, 13 October 2021.

The admittance of Equinox to the Official List of the ASX, follows completion of a $9 million initial public offering.

Equinox’s sole focus is on the exploration and development of the Hamersley Iron Ore Project, led by a dedicated Board and management team with plenty of iron ore experience.

“This is a great result for Cazaly as the Hamersley project now has the requisite funds to progress and be managed by a highly experienced team whose sole focus is the further development of the project,” French said in the company’s ASX announcement.

“We congratulate the Equinox Board on their ASX listing and look forward to the future advancement of the Hamersley project.”