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Irwin family says fight's on
Cape Alumina Limited has attracted about 500 new shareholders and raised $15 million in the lead-up to its stockmarket listing later this month, after winning a court battle to access a portion of the 135,000-hectare reserve.

But an Australia Zoo spokeswoman said the fight to save what supporters call "Steve's Place'' was not over.

"This wetland conservation property is a tribute to Steve Irwin, and we will continue the fight to protect it,'' she said.

"The Save Steve's Place petition gives the people of Australia a voice and it is ringing loud and clear.

"The support has been inspiring, and has confirmed that we are representing the interests of a nation in protecting our wildlife and their habitat.''

The petition has received more than 90,000 signatures.

Cape Alumina is conducting preliminary studies for a bauxite mine on its Pisolite Hills lease, which covers about 15 per cent of the reserve the Irwin family company Silverback Properties purchased after Steve Irwin's death by a stingray barb in 2006.

Test drilling revealed a bauxite deposit of more than 100 million tonnes, which could yield about seven million tonnes a year starting in 2012-13.

The company said in a statement on Tuesday its initial public offer (IPO) had closed fully subscribed, raising $15 million and attracting about 500 new shareholders.

The company's shares are scheduled to list on the Australian Securities Exchange by the end of January.

Chairman-elect George Lloyd said he was delighted with the response from the public, mainly north Queenslanders.

"This is a great result in a very difficult financial market and enables Cape Alumina to confidently progress the feasibility study into the development of a significant new Australian resource project in Cape York,'' Mr Lloyd said.

Cape Alumina chief executive Paul Messenger said the company would list with cash in the bank, no debt and an advanced resource project which, subject to feasibility, will make it a major player in the supply of bauxite to the Chinese alumina-aluminium market.

"That market had grown rapidly over recent years and became increasingly dependent on imported bauxite,'' Dr Messenger said.

The project is expected to create around 350 permanent jobs.
 
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