UPDATE 1-Gold miner Koza's owners say IPO work continuing

(Adds statement from company)

By Emma Ross-Thomas

ISTANBUL, Feb 8 (Reuters) - Work on an IPO for Turkish gold miner Koza Altin Isletmeleri is continuing, the company's owners Ipek Matbaacilik (IPMAT.IS: Quote, Profile, Research) and Koza Davetiye KOZAD.IS said on Friday, after a Reuters report that the IPO had been stalled.

Sources with direct knowledge of the situation earlier told Reuters the IPO had been delayed.

In a statement to the Istanbul Stock Exchange, Ipek and Koza said: "The story does not reflect the truth. Our work on the public offering is continuing." It did not provide further details.

Last week Turkey-based Islamic lender Kuveyt Turk indefinitely postponed its initial public offering (IPO) because of poor market conditions as the main Istanbul stock index .XU100 has lost 25 percent of its value this year.

The two sources said Koza Altin sent out the invitation to potential consortium members but then never sent a price range as was expected.

"The price was awaited, but that step never happened," said one of the sources, who declined to be named, in comments echoed by a second source.

Koza Altin, whose main shareholder is Istanbul-listed printing company Koza Davetiye, planned to list 43 percent, or 49.45 percent with an overallotment option, according to data registered with the stock exchange.