30 August 2006
COZIRON RESOURCE’S SUCCESSFUL MARKET DEBUT
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
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