News: International Goldfields to update on Santa Fe Gold interest

International Goldfields (ASX:IGS, FRA:COT) has been granted a trading halt by the ASX pending an update on its investment in Santa Fe Gold Corporation (OTCMKTS:SFEG).

IGS holds 9.2 million shares in Santa Fe, which last traded at US$0.0044, and has previously outlined that it was arranging for the sale of either some or the entire holding.

IGS also has a loan owing for Santa Fe of US$4.4 million due October 2015.

The halt will remain in place until the opening of trade on Tuesday 1st September 2015, or earlier if an announcement is made to the market.


International Goldfields in company making transition

Earlier in the month International Goldfields said that it is finalising due diligence for the acquisition of an 85% interest in Uruguay cannabis biosciences company Winter Garden Biosciences.

Uruguay is the first nation in the world to fully legalise at the federal regulatory level the research & development, as well as cultivation, distribution, sale and consumption of non-synthetic cannabinoids and hemp.