Indophil Resources NL (IRN)

Shares / Stock Code

IRN

Stock Exchange / Sharemarket

ax

Indophil Resources NL (IRN) is a mineral explorer, with a core focus on gold and copper exploration and development in South East Asia. The Company’s operations are held in Australia and Philippines. The principal asset of the Company is Tampakran gold/copper deposit located in the southern Philippines, and it is the largest undeveloped gold/copper deposit in the Southeast Asia region. Indophil listed on the ASX on May 3rd, 2002. The Company is focused on the development of the Tampakan Copper-Gold Project, which is a joint venture with Xstrata Copper. Indophil holds a 34% stake in the Tampakan project, with the rest 62.5% of the interest owned by Xstrata Copper. The combined interests are managed by Sagittarius Mines Inc. on behalf of the government and the people of the Philippines. The Company’s exploration tenements are spread across three geographic regions of the Philippines: Southern Luzon, Central Mindanao and East Mindanao. Its Labo project lies within the Paracale gold district in Camarines Norte. Lion Selection Group holds a majority shareholding in Indophil Resources NL. Other companies with significant shareholding in Indophil are the Australian Selection, Westpac Custodian Nominees, National Nominees, Xstrata Queensland Limited, JP Morgan Nominees Australia Ltd and ANZ Nominees. The Company’s team is highly-experienced, having a successful track record in minerals development, with specialisation in the Philippines. Indophil is also seeking for new business and growth opportunities in the Philippines and worldwide. The Company seeks to secure an interest in advanced exploration or projects that are already in minerals production.

Indophil Resources NL History

Indophil Resources NL was incorporated in 1996 in Australia by Tony Robbins and Chris Middleton, with a vision to acquire and explore gold and copper in the Asia-Pacific Region. By November 1997, Indophil had acquired a portfolio of properties mainly in the Philippines. During 1998, the Company started an active exploration program on the Philippines exploration portfolio. It entered into a Heads of Agreement with the Alcantara Group for a farm-in and joint-venture arrangement over the Manat property in SE Mindanao in November 1998. In 2000, the Company entered into an Agreement with MIM (subsequently Xstrata Copper) for that company to acquire a 62.5% interest in the Tamapakan Project. It listed on the ASX in May 2002. IRN secured handover of the Tampakan Copper-Gold Project in August 2002. On 30 March 2007, Xstrata Copper exercised its option over 62.5% of the Tampakan project.