change in substantial holding, page-9

REGENT CANADIAN OWNED AND WEALTHY
BC Iron
Pilbara miner BC Iron -- one of a number of smaller players to emerge in the dealscape of late -- has raised $22 million to fund its share of the company-making Nullagine joint venture with Fortescue Metals Group. The raising comprises a $9.4 million placement to clients of Argonaut Securities at $1.10 per share and a $12.6 million entitlement issue with Argonaut acting as underwriter. Interestingly the raising also sees the emergence of uranium baron Stephen Dattels' Regent Pacific Group as a cornerstone investor. The Hong Kong-registered company that the Canadian tycoon chairs is expected to place at least $6.6 million for a 7.5 per cent stake in BC Iron. Regent has recently made investments in Kalahari Minerals, Polo Resources and Bannerman Resources. Dattels was a co-founder of UraMin, which was sold to French nuclear company Areva for $US2.5 billion in August 2007.
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