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IRON BEAR RESOURCES LTD Capital/Financing Update 2004
65091_rns_2004-08-08_66069658-4bc4-4d6f-a00c-7b1a4fcc1a39.pdf
Capital/Financing Update
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INTERNATIONAL GOLDFIELDS LIMITED
International Goldfields Limited ABN 71 095 047 920 Ground Floor 18 Oxford Close Leederville Penth Western Australia 6007 Telephone +618 9388 0744 Facsimile +618 9382 1411 PO Box 144 West Perth Western Australia 6872 www.internationalgoldfields.com
Via: E Lodgement
INTERNATIONAL GOLDFIELDS ENHANCES GLOBAL POSITION
NFX Gold Stake lifted & European listings announced
International Goldfields Limited (ASX:IGL) is pleased to announce that it has increased its stake in Canadian based gold explorer NFX Gold Inc. (TSX Venture Exchange:NFX).
IGL has acquired an additional 2,666,667 shares in NFX at a price of C\$0.45 taking its holding to 4,946,200 shares, representing some 15.2% of their total issued and outstanding shares. The shares were acquired through a Private Placement which. together with other subscribers, raised NFX gross proceeds of C\$1,771,500.
NFX intends to use the proceeds from the Private Placement to finance further exploration on its Kirkland Lake and Lake Abitibi gold properties.
IGL also wishes to advise the market that it is now listed on the German exchange of Berlin, and will be listing on the Frankfurt exchange in the next two weeks.
Approximately 30 per cent of IGL is already held by institutions in Europe, with Germany's largest gold house, Commerzbank, holding 8.9 per cent and Pershing LLT 6.1 per cent.
The listings are intended to not only support existing investors in the region to trade in IGL stock on a day-to-day basis, but also to encourage new investors to support the stock.
To coincide with these listings, the Chairman of IGL, Mr Tony Sage, will be visiting Europe to conduct a number of broker presentations to new and existing shareholders.
Further to our ASX announcements dated 20th and 30th July 2004, we wish to confirm that over the last four weeks the Chairman, Mr Tony Sage, increased his indirect interest in IGL, through the EGAS Superannuation Fund a company in which Mr Sage has a relevant interest, through the purchase of 2,759,143 fully paid ordinary shares. This brings Mr Sage's direct and indirect interest in IGL to 8.37%.
Should there be any queries on these matters please do not hesitate to contact the writer.
Yours faithfully
Kent Hunter Company Secretary