CZR - Coziron Resources - Aussie Stock Forums

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  1. #1

    Default CZR - Coziron Resources

    30 August 2006
    New Indonesian explorer Coziron Resources Ltd (“Coziron”) had a successful debut on
    the Australian Stock Exchange (“ASX”) yesterday with shares in the company opening at
    23.5 cents, closing at end of trading at 24 cents; a 20% premium to it’s issue price of 20
    Coziron’s successful opening followed on from it’s over subscribed initial public offering
    of $3.5 million.
    Coziron will focus initial exploration efforts on its Rawang Gadang (“Rawang”) iron ore
    project in Western Sumatra. Drilling is proposed to commence towards the end of
    September 2006.
    The initial drilling program will comprise approximately 3000 metres of RC drilling in 40
    holes and is designed to expand and better define the high grade magnetite deposit at
    Coziron will also focus on meeting the off-take agreement with Chinese iron ore importer
    China Kingdom International Group, which also has a 5% stake in the Company.
    In the coming months Coziron will continue with further programs of exploration drilling
    at Rawang and other prospects within it’s large regional tenement base in Sumatra.
    For further information please contact:
    Lam Fatt Tan (Executive Director – Corporate) or
    Greg Burns (Executive Director – Technical)
    Telephone: (08) 9227 7766

  2. #2

    Default Re: CZR - Coziron Resources

    czr closed up 18%
    has anyone done any research on this stock or have an opinion.


  3. #3

    Default Coziron

    Is anybody looking at this stock. It recently listed and is looking at an iron ore project in Indonesia.


  4. #4
    Make the drill work for YOU springhill's Avatar
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    Jun 2007
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    Default Re: CZR - Coziron Resources

    MC - $31m
    SP - 7c
    Shares - 454m
    Options - Nil
    Cash - $1.1m

    On about 24 July 2012 Coziron entered into three deeds to vary the terms of the original three individual Share Sale and Purchase Agreements with Zanthus Resources Pty Ltd, Buddadoo Metals Pty Ltd and King X Pty Ltd dated 30 December 2011.
    All three Agreements are virtually identical and are varied by the execution of three virtually identical Deeds of Variation and Restatement. The material variations to the Agreements as a result of the execution of the Deeds are as follows:
    1) at all times until completion, the purchaser having completed a capital raising, maintaining an amount of not less than $2 million in its account designated the “Share Proceeds Account”, or such lesser amount as the vendor approves.
    2) the shareholders of the Company approving the transaction.
    3) If the conditions are not satisfied by 17 September 2012 or such later date as the parties may agree in writing then the vendor may terminate the Agreements by giving written notice to the purchaser to that effect.
    The Company has raised funds of $2,050,000 at $0.10 per share and the funds are being held in the Company’s share proceeds account. It is a condition of the Agreements that CZR obtains shareholder and regulatory approvals to achieve completion.

    Having completed in late March all heritage surveys and approvals, the Company successfully undertook project access and site selection to enable drilling to commence. This first planned initial drill program on the first targets on the Yarraloola Project commenced on approximately 21 May 2012. The program was reduced to approximately 4,000 metres of RC drilling with 65 holes in total to better spread exploration understanding for targeting purposes given the vast array of geological targets on the property. The drilling programme was be the first conducted on the 1,400 square kilometre tenement package.
    The Company also undertook some mapping and reconnaissance sampling on mineralisation in the Brockman Iron Formation and also Channel Iron Deposits which are located on the tenements. Results from these studies and drilling will be available in about 3 weeks.
    Follow-up targets have been identified in the Brockman Iron Formation and Channel Iron mineralisation.

    The most advanced target on Buddadoo is a drilled interval of V-Ti-magnetite mineralisation in gabbro. The mineralogy of the mineralisation is being reviewed to determine the optimal down-stream processing options. Other targets being assessed at Buddadoo include Cu-Au mineralisation in felsic rocks and copper mineralisation along the contact of the V-Ti-magnetite gabbro and the adjacent host rocks.

    The Company has commenced exploration on the King X project. This project contains a number of outcrops of manganese mineralisation which are consistently located at an interval above pelletal iron-formation amongst the sediments of the Earaheedy Basin. This style and setting of the mineralisation is similar to the Kalahari Basin in southern Africa which hosts the Worlds largest accumulations of manganese. The Company is currently planning an airborne EM survey to assist with the selection of drill-sites.

    The Company maintains its interest in the Agam Iron Sands project, located on the island of Sumatra. The Board is currently considering alternatives for the project, including further work as recommended by the consultant geologists.
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