China in boosting the global gold trade
The growing significance of China in boosting the global gold trade was acknowledged by industry experts at a recently concluded industry conference organised by Dubai Multi Commodities Centre (DMCC) in Dubai. Participants in the inaugural “DMCC Gold Convention 2009: Year of the Bull or Bear?” highlighted that China’s gold reserves, which rose rapidly to reach 1,054 tonnes this year, will re-ignite gold’s relevance as a monetary asset.
During the panel discussion, experts also observed that with China now being the world’s largest producer of gold, the country has tremendous potential to boost the level of worldwide gold trade despite the global current economic slowdown. Read more
International Gold Resources, Inc. Closes $1.3 Million Private Placement
International Gold Resources, Inc. (IGRU; Pink Sheets) announced today that the Company has closed a private placement with accredited investors, in the aggregate amount of $1.3 million to be used for operational needs in support of IGR’s efforts in Brazil. The Company’s Chairman, David H. Francisco purchased $500,000 of the offering.
The Company raised $1.3 million through a private placement with approximately 3.25 million shares purchased at $0.40 per share coupled with one-half of one warrant to purchase one additional share of common stock at an exercise price of $1.00 at any time during the next 12 months (1,625,000 warrants in aggregate). Read more
