In October 2003, IBK Capital raised $1.125 million for Noront Resources Ltd. through the private placement of common shares and warrants. In December 2006, IBK Capital raised another $15 million for Noront in units of common shares and warrants. The financing was to fund Noront’s drilling program at its Windfall Lake property in Quebec which showed excellent results as it encountered three significant zones of gold mineralization at a depth of 119.6 metres. The best zone covered a total width of 4.8 metres and assayed spectacular gold grades (52.3 ounces per ton, 23.33 ounces per ton, and 38.74 ounces per ton).
In December 2007 and May 2008, IBK Capital raised a total of $7.2 million for RX Exploration Inc. in multiple tranches of units of flow-through shares and warrants, units of common shares and warrants, and common shares.
IBK Capital raised $1.15 million for Trade Winds Ventures Inc. through the placement of common shares and warrants.
IBK Capital raised $315,000 for Harte Gold Corp. through the private placement of common shares and warrants.
IBK Capital raised $350,000 for Seafield Resources Ltd. through the private placement of flow-through shares. In addition, IBK Capital raised $500,000 for Seafield through the private placement of common shares and warrants.
IBK Capital raised US $16.1 million for Capital Gold Corporation through two private placements of common shares and warrants. Capital Gold Corporation is a US-based gold producer currently focused on expanding the production of its El Chanate Project located in the state of Sonora, Mexico.
IBK Capital raised $3.0 million for Sutter Gold Mining Inc. through the private placement of common shares and warrants.
IBK Capital raised $1.1 million for Murgor Resources Inc. through the private placement of common shares and warrants.
IBK Capital raised $1.2 million for Piedmont Mining Company Inc. through the private placement of common shares and warrants.
IBK Capital raised $1.3 million for Arizuma Silver, Inc. through the private placement of common shares. IBK worked with Arizuma when it was a private company to identify the most effective way of raising seed capital and to become a publicly traded company.
IBK Capital raised a total of $21.4 million in six transactions for Brazilian Resources, Inc. Through strategic relationships in Brazil, and institutional support in North America and Europe, the company has been involved in a number of attractive projects including gold exploration, energy concessions for the development of small hydroelectric plants and the development and operation of irradiation plants for food and other materials. IBK Capital also raised $320,000 to complete the formation of Jaguar Mining Inc. to handle the operations of the multiple joint venture gold projects between Brazilian Resources and IMS Empreendimentos Ltda. The projects are located in Brazil’s most prolific mining camp known as the Quadrilatero Ferrifero (“Iron Ore Quadrangle”), which is host to many world-class gold deposits in banded iron formations.
IBK Capital raised US $3 million for Gold Reserve Corporation, a company listed on the TSX and NASDAQ to fund exploration work on its Las Brisas project, a very promising gold deposit located in the Kilometre 88 gold camp of Venezuela. Drilling to date on the property indicated a gold resource of over 12 million ounces.
IBK Capital raised $1 million for Pelangio Mines Limited through the private placement of flow-through shares to fund its exploration programs. IBK Capital also acted as agent to Pelangio to raise $2.35 million from Franco-Nevada in the establishment of a joint venture whereby Pelangio acquired all of Placer Dome’s exploration property interests in the Detour Lake greenstone belt in North-Eastern Ontario, including Placer’s Detour Lake mine property. The Detour gold camp has demonstrated its ability to host a multi-million ounce gold resource.
IBK Capital completed a US $5.6 million private placement for Newgold, Inc. in the form of common shares and a percent net smelter return royalty. IBK worked with Newgold when it was a private company to identify the most effective ways of raising seed capital and to become a publicly traded company. IBK Capital advised Newgold on being listed on the NASDAQ Bulletin Board through the reverse take-over mechanism.
IBK Capital has completed thirteen equity financings raising a total of $37.4 million for South American Gold And Copper Company Limited, a mineral exploration company with gold, copper and industrial minerals properties in Chile and Peru.
IBK Capital raised US $1.7 million for Silverado Mines Ltd., a company with interests in six groups of mineral properties in Alaska and in British Columbia. Silverado is also involved in the development of low-rank coal-water fuel as a replacement for oil fired boilers and utility generators.
IBK Capital raised $6.9 million for Sulliden Exploration Inc. through two private placements of equity. Sulliden's Shahuindo gold property in Peru is within short distance between Newmont's Yanacocha (32 million ounces of gold) and Barrick's Alta Chicama (7.3 million ounces of gold).
IBK Capital acted as agent to Triton Mining Corp. to raise capital from Repadre Capital Corp. IBK Capital structured and negotiated a creative financing package consisting of a private placement of common shares and warrants of Triton as well as a 5% net smelter return royalty and a 6% net profit interest in Triton's El Limon/La India mining operations in Nicaragua. The total value of the financing package was US $3.6 million.
IBK Capital raised $1.4 million for U.S. Gold Corporation through the private placement of common shares. The company is now headed by Rob McEwen, one of Canada’s leading mining executives, and has grown into a mining powerhouse in one of Nevada’s premier mining regions with the goal of becoming Nevada’s premier exploration company.
IBK Capital raised $2 million for Virginia Gold Mines, Inc. through the private placement of flow through common shares. Virginia is one of the most successful and active exploration companies in Quebec.
IBK Capital raised US $10 million in 2004 to help create a new gold mining company, Western Goldfields, Inc., through the purchase of the Mesquite Mine from Newmont. In February 2006, with the advice of IBK Capital, the company appointed Randall Oliphant as Chairman who brought in a new management team and closed a US $6.9 million financing. IBK Capital was instrumental in bringing in this new team to facilitate the closing of the strategic financing. The Mesquite Mine in California is projected to restart production in the first quarter 2008 at a rate of about 165,000 ounces of gold per year, increasing to 170,000 ounces annually once it is in full production. Western Goldfields’ objective is to produce over 250,000 ounces of gold per annum by acquiring small gold producing assets from major mining companies.
IBK Capital raised $2.0 million through the private placements of flow-through shares for a group of junior exploration companies including Alliance Pacific Gold Corp., Firesteel Resources Inc., Stirrup Creek Gold Ltd., Sundust Resources Inc., and Seafield Resources Ltd.
In the summer of 2007, Noront Resources Ltd. began drilling at its Double Eagle Project at McFauld’s Lake in the James Bay Lowlands of Northern Ontario, about 700 kilometres north of Sudbury. The assays from the first hole showed a 36 metre intersection of impressive nickel, copper, platinum and palladium grades. These results were soon followed by the sensational assays from their fifth hole, having 117 metres grading 4.1% nickel, 2.2% copper, 2.1 grams per tonne platinum, 7.1 grams per tonne palladium, 0.4 grams per tonne gold and 6.3 grams per tonne silver. Drilling success continued through the end of 2007 and into 2008 with 65% of drill holes containing significant mineralization. Hole 27, drilled in December 2007, returned 35.6 meters grading 7.9% nickel, 3.5% copper, 1.7 grams per tonne platinum, 12.8 grams per tonne palladium, 3.9 grams per tonne gold and 9.3 grams per tonne silver.
Noront currently interprets its discovery to be a massive sulphide magmatic nickel-copper mineralized body, of irregular dimensions, surrounded in part by net textured sulphides in peridotite within a much larger variably mineralized steeply dipping peridotite that has an 80 degree dip to the west, with a plunge along a southerly strike. This exciting nickel-copper-platinum-palladium discovery with high economic potential has resulted in an unprecedented staking rush in the area surrounding McFauld’s Lake, dubbed the “Ring of Fire”. By early 2008, Noront had amassed an area within the “Ring of Fire” of about 67,000 hectares. Noront continues with an aggressive exploration and staking campaign.
In February 2008, IBK Capital raised a total of $26 million in a private placement for Noront Resources Ltd. IBK Capital’s mandate was to introduce Noront to strategic investors including Rosseau Asset Management; Sheldon Inwentash, Chairman and Chief Executive Officer of Pinetree Capital Ltd.; Robert McEwen, Chairman and Chief Executive Officer of US Gold Corp.; Pierre Lassonde, Chairman, Franco-Nevada Corp.; Sprott Asset Management; and Northfield Capital Corp.
In March 2008, the warrants from the February 2008 financing were accelerated due to Noront’s stock trading above $6.00 for 10 consecutive days. As a result, IBK Capital was successful in having a further $12,500,000 raised for Noront through the exercise of warrants.
In October 2007, IBK Capital was successful in having Noront’s shareholders exercise $20 million of their warrants that had been issued from a $15 million financing completed by IBK Capital in December 2006.
In September and October 2007, IBK Capital raised a total of $10.5 million in two private placements for MacDonald Mines Ltd. MacDonald Mines has one of the largest land packages in the McFauld’s Lake region, with multiple desirable drill targets identified in their E/M surveys. As part of the financing, IBK Capital’s mandate was to introduce MacDonald Mines to strategic investors. Sheldon Inwentash, Chairman and Chief Executive Officer of Pinetree Capital Ltd., Robert McEwen, Chairman and Chief Executive Officer of US Gold Corp., Pierre Lassonde, Chairman of Franco-Nevada Corp., and Randall Oliphant, Chairman of Western Gold Fields Inc. purchased a substantial portion of the private placement. In addition, Julie Lassonde-Gray joined MacDonald Mines’ Board of D°irectors.
IBK Capital raised $2.76 million in a private placement for Spider Resources Inc. to fund exploration on its McFauld’s Lake property.
IBK Capital raised $2 million in a private placement for Hawk Uranium Inc. to fund exploration on its McFauld’s Lake property.
In total, IBK Capital has raised approximately $50 million for exploration companies that are currently very active in the McFauld’s Lake area in Northern Ontario.
IBK Capital raised $1.4 million in common shares and warrants for Cancor Mines Inc., a company that acquires, explores and develops large properties with gold and base metal potential in the mineral rich Abitibi region of Quebec and more recently on it newly acquired properties in Algeria.
IBK Capital raised $2.9 million for West High Yield Resources Ltd. to fund the exploration of a nickel, cobalt, and magnesium deposit on its Ivanhoe project in British Columbia, Canada.
IBK Capital raised $1.2 million for X-Ore Resources Inc. to fund the exploration of its gold projects in Mexico.
IBK Capital raised approximately $107 million for Caledonia Mining Corporation, a TSX and NASDAQ Bulletin Board listed company involved in cobalt, gold, platinum, base metals and diamond exploration activities in Canada, Europe and South Africa. Caledonia is currently developing its Nama cobalt project in Zambia, this project being viewed currently by the company as one of the largest and potentially most profitable primary cobalt deposits in Africa. The company is also exploring its Rooiport Project located in the Bushveld Complex in South Africa. Drilling has provided evidence of UG2 and Merensky “like” platinum reefs.
IBK Capital raised US $50 million in a private placement for Global Alumina Corporation which proposed to build, own and operate an initial 3.0 million tonne per annum green-field alumina refinery to be constructed adjacent to the existing bauxite mining operations of Compagnie Bauxite de Guinée in Sangaredi, Guinea. This alumina refinery proposes to produce alumina at US $115 per tonne which would make it one of the lowest cost alumina producers in the world. IBK Capital also advised the company to obtain a listing on the Toronto Stock Exchange through the reverse take-over mechanism.
IBK Capital raised $7 million for Ambrex Mining Corporation, now operating under the name of Karmin Exploration Inc. Karmin is active in Brazil on its Aripuana Project, a large volcanogenic massive sulphide (VMS) deposit measuring over 700 metres in length and still open along strike and at depth. Through its joint venture partner, Anglo American, Karmin now has the combined technical expertise and financial strength of a large mining corporation working towards the common goal of making the Aripuana exploration project a successful mining project.
IBK Capital raised $600,000 through a private placement financing for Hornby Bay Resources Inc. when it was a private company and assisted it to become quoted on the TSX Venture Exchange as part of Hornby Bay Exploration Ltd. Hornby Bay is currently exploring an exciting base metal discovery in Canada’s Northwest Territories. It has identified a mineralized corridor some 5 kilometres long by 200 metres wide. A large untested zinc anomaly is present which needs to be drilled at depth.
IBK Capital raised $2 million for Leader Mining International, Inc. through the private placement of flow through common shares and common share purchase warrants. Leader Mining has a significant copper-cobalt-gold-silver discovery at its Knife Lake property in North-Eastern Saskatchewan. A geological resource is inferred to be in excess of 200 million tonnes at an average grade of 1% copper equivalent.
IBK Capital acted as the special Canadian agent to Kemper Securities Inc. and Fleming Martin Inc., of the United States, to raise capital by way of a private placement for Stillwater Mining Company, a company engaged in the exploration, development, mining and production of platinum, palladium and associated metals from the Stillwater Complex in the State of Montana. It is believed that the Stillwater Complex is the largest primary platinum and palladium-mining complex outside of the Republic of South Africa.
Eramet/Societé de Nickel, the world's leading producer of ferronickel and high-speed steels, completed a private placement valued at US $130 million. Paribas Capital Markets, the lead manager, selected IBK Capital to manage the Canadian tranche of this offering. The company then did a global public offering for approximately $200 million in size, as part of the French government's privatization programme.
The uranium market continues to be in a deficit and spot uranium prices have increased substantially since 2006. In 2007 the spot price of uranium reached a high of US $120 per lb. but has since abated to below the US $100 level. Market experts predict that uranium prices could rise again in the next three to five years due to lack of new mine supply. Spot prices could reach as high as US $200 per lb. in 2008 as the start up of Cameco’s Cigar Lake continues to be delayed and while governments around the world plan to build more and more nuclear power plants, especially in India and China.
In December 2006, IBK Capital raised $4 million in units of common shares and warrants for Spruce Ridge Resources Ltd. The proceeds were used for exploration on the company’s North Brook uranium property in the Deer Lake Basin, Newfoundland. Anomalous radioactivity was located over a length of 798 metres in intermittent outcrops in the banks of the brook. The near surface mineralization had a uranium content of up to the equivalent of 3.73% U308 with 1% copper, 0.89% zinc , 0.23% lead and 65.9 grams per tonne silver. Spruce Ridge holds a total of 1,722 claims or 43,050 hectares in the Deer Lake Basin.
In December 2006, IBK Capital raised US $3.1 million for Uranium Star Corp. in flow-through and non flow-through units of common shares and warrants. The company is focusing its exploration activities at the Sagar project in Quebec which covers an area of approximately 50 square kilometres and has multiple high grade showings of gold and uranium in boulders.
IBK Capital managed the Canadian tranche of a US $15.8 million equity private placement offering led by Everen Securities for Uranium Resources, Inc. This company is engaged in the mining of uranium in the United States using the in-situ leach (“ISL”) mining process and is recognised as a leader in the field of ISL mining.
IBK Capital raised $4.7 million for China Diamond Corp. through private placements of common shares and warrants.
IBK Capital was involved in the development of Ontario and Quebec’s diamond industry through its financial advisory work for Metalex Ventures Ltd. IBK Capital raised $3.3 million to fund Metalex’s exploration program in the James Bay Lowlands, the site of De Beer’s Victor diamond pipe. Metalex’s founder is Chuck Fipke, credited with the discovery of the EKATI Diamond Mine in the Northwest Territories of Canada.
IBK Capital raised approximately $9.2 million for Gemhouse Inc. through private placements of common shares, the proceeds of which were used to acquire emerald properties in Africa. Gemhouse in 2004 was renamed Gemfields Resources PLC and went public in 2005 on the AIM Market.
IBK Capital has completed several private placement financings for American Gem Corporation, raising a total of $50 million from European and Canadian investors. American Gem was a Montana-based company involved in developing mineral properties containing sapphires, as well as the marketing of these sapphires. IBK Capital advised American Gem Corporation to obtain a listing on the Toronto Stock Exchange through the reverse take-over mechanism.
IBK Capital raised approximately $5 million for Kimberlex Resources Ltd. through private placements of common shares. The company subsequently became listed on the Toronto Stock Exchange under the name of Rex Diamond Mining Corporation through the reverse take-over mechanism.
