phosphate ipo closes oversubscribed, page-2

Exploration company Mt Isa Metals Limited will proceed with an Australian Securities Exchange (ASX) listing
following an oversubscribed Initial Public Offering (IPO).
Mt Isa Metals Managing Director Peter Spiers said today the IPO, which was fully underwritten and managed by
Bizzell Capital Partners, had attracted subscriptions from institutional and retail investors for well in excess of the
$7 million targeted to be raised from the offer. The Company is scheduled to list on the 22nd of August, subject to
ASX confirmation.
�gWe�fre delighted about the response to the IPO, which closed on the 4th August heavily oversubscribed,�h Mr
Spiers said.
He said Mt Isa Metals was focused on the discovery and development of world class mineral deposits in Central
and North�]West Queensland.
�gThe $7 million we have raised through the IPO process with the issue of 35 million shares at an issue price of 20
cents will give us a fully�]funded, two�]year exploration program targeting a range of high value commodities,�h he
said.
�gA large percentage of funds will be spent in the ground, on both drilling and major geophysical surveys to target
iron oxide copper gold (IOCG) deposits similar in style to the giant Olympic Dam orebody.�h
�hWe also have a very exciting phosphate project at D�]Tree West which has received significant interest from
market participants,�h he said.
The D�]Tree West deposit includes Inferred Mineral Resources of 170Mt @ 16% P2O5.
Brisbane�]based Mt Isa Metals was incorporated in June, 2006, as a wholly�]owned subsidiary of ASX�]listed
D�fAguilar Gold Limited.
Mt Isa Metals has assembled a substantial portfolio of exploration tenements and tenement applications totaling
almost 7,000km2.
�gWe have a very large tenement holding in one of the world�fs premier mineral provinces. An immediate work
program is planned, and it is the Company�fs intention to rapidly generate iron oxide copper gold drill targets in
the Gregory Project area, north of Mt Isa. This area is virtually untouched,�h he said.