RNS Number:1671Q
AuIron Energy Ld
25 September 2003


AUIRON ENERGY LIMITED

25 September 2003

ACQUISITION OF YARRABEE COAL COMPANY PTY LTD - STATUS

AuIron Energy Limited ("the Company") has today lodged with the Australian Stock
Exchange ("ASX") the following announcement.

Announcements are also available from:
The Company's website:   www.auironenergy.com.au
The ASX website:         www.asx.com.au

On 19 September 2003 shareholders approved the acquisition of Yarrabee Coal
Company Pty Ltd, however, AuIron undertook not to complete the Yarrabee
acquisition pending the outcome of the previously announced proceedings by the
Takeovers Panel.

On 22 September 2003 the Takeovers Panel announced that it had decided not to
make a declaration or order in relation to the application by Westchester
Financial Services Pty Ltd, and following the expiration of time for an
application for review (Wednesday 24 September 2003) the Panel would be prepared
to allow the acquisition and share issue to proceed.

The Takeovers Panel today advised that:

   * the Panel had not received an application for review of its decision
     within the time period permitted;

   * the Panel consents to both AuIron Energy Limited and Resource Management
     & Mining (RMM) withdrawing the undertakings provided to the Panel on 17
     September 2003 not to complete the acquisition of the Yarrabee Coal Company
     Pty Limited; and

   * AuIron and RMM are now free to complete the transaction.

Accordingly, AuIron has withdrawn its undertakings and is proceeding to
completion of the acquisition and issue of the shares.



CONTACT DETAILS

Mr Jon Parker            Mr Joe Fontana
Managing Director        CFO & Company Secretary

AuIron Energy Limited
Phone: 61 (0) 2 9357 2044
Facsimile: 61 (0) 2 9368 1313
Email: auiron@auironenergy.com.au
Website: www.auironenergy.com.au

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                      This information is provided by RNS
            The company news service from the London Stock Exchange

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