Regarding potential IGC acquisitions I can't get past thinking the new director's appointment might be linked somehow. This was announced on 24th April - in hindsight IGC had obviously decided by this point they would be keeping the cash - otherwise the appointment would be pretty pointless. Perhaps this new director has identified some potential assets - uranium and oil are mentioned in his bio (below):
Australian platinum exploration company International Goldfields Limited (ASX: IGC) (“IGC” or the Company”) is pleased to announce Mr Mark Gwynne has been appointed as a Director of the Company following the resignation of Mr Michael Povey. Mr Gwynne has been involved in exploration and mining for over 17 years. Mark has held management positions on mine sites and in the service sector of the mining industry, including general manager of an exploration consultancy. Mark has demonstrated extensive skills in exploration and mining logistics and management, as well as acquisition and divestment of minerals assets. Mr Gwynne is an original promoter and founding Executive Director of Jackson Minerals who have a varied portfolio of assets in Australia and Argentina, and also holds a directorship position with Monitor Energy Limited, which has uranium and oil assets in the Kyrgyz Republic of Central Asia. Mr Gwynne has experience in offshore jurisdictions, including south east and central Asia and Africa. Please find attached an Appendix 3X in respect of Mr Gwynne’s appointment to the Board.
IGC Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
