Here is a brief story about IBIC:
About IBI Corporation
IBI Corporation, originally known as Conisil Mines Ltd., is a Canadian Public Company currently trading on the Canadian Dealing Network (CDN). The company changed its name in January 1995 after Edward Lai acquired a controlling interest and appointed a new board of directors.
After several months of reorganizing and negotiating, the company is now a resource company primarily engaged in the development of timber and gold.
GOLD
IBI Corporation recently negotiated a partnership agreement with the Government of Guyana and Placer Dome Inc.. Under the arrangement, the Government will provide a number of large and important gold properties for development. Placer Dome will provide the management and full financing. The first property has been made available to the group and is located within the well known Guyana Gold Shield. Under the agreement, Placer Dome will hold a 51% interest, IBI Corporation 41% and the Government of Guyana 8%.
IBI recently acquired control of an important gold mining operation in Ghana, West Africa called the Kibi Mine. Under the agreement, IBI holds 77% equity, the Government of Ghana has 10% and the Bank of Ghana 13%. This ideal partnership will readily lead to further development and expansion of IBI gold interest in Ghana. Recent findings have indicated very good gold occurrences in both alluvial and hard rock gold deposits. Production is expected to commence towards the end of the current year. All the necessary mining equipment has been ordered with payment funding in place.
IBI has recently acquired 100% interest in the Boston Golf Leaf Property, Ontario. The property is located 1 1/2 miles N.E. of Barry Hollinger Mines and 3 miles west of Cathroy Larder Mine. The area contains numerous gold and copper occurrences. Previous drilling indicated a geological reserve of 100,000 tons grading 0.135 oz. per ton gold. The best intersection reported was 7 ft. grading 0.22 oz. per ton gold.
IBI Corporation has recently (Oct. 3, 1997) entered in to an agreement for a 36% interest in the Terri Zone Gold Property in partnership with Teck Corporation and ATAPA Minerals. The formal agreement was signed at Teck Corporation's head office in Toronto with Teck Corporation's Vice President Barry Simmons and IBI Corporation's President James Stephenson. The property is located in Northern Ontario Canada, 10 miles south of Kirkland Lake. Previous drilling over a 1000 ft. strike line has identified a geological resource of 430,000 tons grading of .021 oz per ton gold over a true thickness of 5 ft. with the best intersection of 0.3 oz per ton gold over 10 ft. near the north end of the zone.
IBI Corporation is presently negotiating to take over a number of select properties in Swaziland (Diamond) Peru (Gold) Costa Rica (Gold).
TIMBER
IBI Corporation owns a 200-acre Teak Plantation in Costa Rica which is regarded as one of the finest properties ideally located and best suited for growing the valuable Teak trees. Many of the trees are well over eight years old and will soon be ready for preliminary cutting. Because of the very strong demand worldwide and the consistent increase in price, the company is seeking to expand by acquiring more lands suited for growing teak.
IBI Corporation is currently negotiating with the Government of Guyana towards a joint venture partnership to harvest, develop and export part of its vast forest resources (over 45 Million acres). This is one of the largest and most important natural resources which Guyana possesses.
GENERAL
IBI Corporation is planning and arranging to move to a higher level of the Stock Exchange, which could be realized shortly. A list of requirements is being examined by the Directors prior to filing a formal application. The number of shares issued and outstanding is approximately 150 Million. However, as part of its program of expansion, the shares could be split into two halves (i.e. Gold and Timber) with a higher stock value to be determined. Further support will follow a number of important announcements in both Timber and Gold. IBI Corporation is also considering taking over a NASDAQ listed company on the process. However the most attractive plan will be adopted and implemented.
For the year ending December 1996, IBI Corporation had the highest volume of shared traded amongst all the companies on the CDN. At the present share price, management strongly recommends IBI shares as a sound investment for both the immediate and long term.
It should be noted that IBI Corporation is approved and eligible for RRSP investments. For further information please call Wade Crawford at (416) 777-1073
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Scotia Plaza, 40 King Street W., Suite 5210
Toronto, Ontario, Canada M5H 3Y2
Phone: 416-777-1073 -- Fax: 416-777-1206
E-Mail: info@ibicorp.com |
