Shares in Coziron Resources Limited (ASX:CZR) jumped 50 per cent yesterday after the mineral explorer announced it will acquire three resource projects worth $15 million.
The tenements are located in Western Australia and understood to be highly prospective for significant iron ore resources.
Coziron has entered into agreements to buy three separate projects for a total consideration of 500 million shares in the company.
The deal is expected to be put to a shareholder vote next month and is also still conditional on the company completing a capital raising of not less than $10 million.
Shares in Coziron Resources jumped 50 per cent on the first day of trade in 2012, finishing at $0.075.
In the year to June 30, 2011 Coziron Resources reported a net loss of $773,000.
