IGE Resources determined to move forward towards commercialization
1/8/2013 10:37 AM EST
IGE Resources AB (OSE: IGE) today announced that the newly elected Board
of Directors has completed its preliminary review of the Company's
assets and strategy. The Board is determined to move forward in bringing
IGE's diamond projects towards production and to continue development of
projects towards commercialization. Furthermore, the Board will also
initiate evaluation of new geographically diverse mineral projects with
the aim to spread the risk and add additional upside potential to IGE's
asset portfolio.
" IGE today holds an attractive portfolio of assets. The capital
required to get commissioned is limited and ramp up periods are short
regarding the African diamond assets. In our opinion IGE has a well
balanced portfolio of mineral assets which bodes well for a move towards
commercialization," said IGE's new Chairman, Ulrik Jansson.
"The current market climate has proven challenging for resource
exploration companies. We are convinced that mining and exploration for
minerals offer interesting opportunities, as the recent climate has
resulted in many under-priced mineral assets," Mr Jansson said.
"IGE has a competent team of people, now working alongside the Company's
new cornerstone investor Amarant Mining Ltd as well as highly
experienced Board members, I very much look forward to contribute to,
and be a part of, IGE's development," said Chairman Ulrik Jansson.
As IGE's strategy for developing its assets and expanding the portfolio
unfolds, the Board will provide additional and more detailed
information.
The new main shareholder Amarant Mining Ltd is a privately held
investment and management company within mining. The Company's primary
activities are in the production and exploration of precious metals and
minerals. Amarant currently has stakes in operations in North and South
America and Africa, managed through active holdings in private and
listed companies. The company's strategy is to identify high-quality,
undervalued assets with growth potential on a large scale, and to
develop such assets.
For additional information, please contact:
Thomas Carlsson
CFO and acting CEO, IGE Resources AB
Tel: +46 8 402 28 05 / +46 70 552 26 22
E-mail:
IGE Resources AB (publ) is a Scandinavian asset management and
development company within natural resources. IGE's portfolio currently
consists of several diamond exploration and production assets in
Southern Africa and Nickel Mountain Resources AB (publ) owning
Scandinavia's largest nickel deposit. IGE is headquartered in Stockholm
and its shares are listed on the Oslo Stock Exchange (ticker: IGE).
Please refer to
www.ige.se (http://media.ne.cision.com/l/eavxxcwg/www.ige.se/) for more
detailed informatio