My take on it is that there was quite a few things missing from the vote!
1/ The small fact that there was no shareholder vote on WG! But we were informed by the SI. Funding didn't come through and we all should have.....just known that!
2/ Just the small matter of the SI placement!
The company did a placement in April 2015 and raised $733,172. This placement carries an interest of 12% and will be converted to shares subject to shareholders approval
We know Macca and his Okap mates have participated in this. So where is the vote???
Perrier
Business as usual is the ASX once again inquiring as to whether this is a going concern.
On April 4. The ASX inquired as to how IGS was still a going concern
One answer given.
"the Company holds 9.2m shares in SFEG:OTC currently valued at USD1.47m (AUD1.905m) and is currently arranging for the sale of either part of, or the whole shareholding to ensure sufficient cash is injected into the Company "
Does seem to fly in the face of the SI's seemly false claim that Santa fe had no effect when IGS is telling the ASX that they have put a value of $1.9m on it as proof as to being a going concern.
Then again in Oct 2015
Just $51k in the bank as of Sept 30 2015.
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Hi Metoo. Sorry I did not get back to you until now on this
At .001c.
Metoo. There is no monetary value put on this in the Annual report.
By April 14.
The Board of International Goldfields Limited (ASX: IGS) ("the Company") is pleased to advise that is has completed a convertible loan facility for $250,000, converting at a fixed A$0.0015 with one for one 2 year attaching options (exercisable at A$0.0015), subject to all the necessary regulatory approvals
This amount is shown in the next Q 5B.
IGS entered into a loan agreement in April 2015 to fund short term working capital. The loan was non-interest bearing and had been fully repaid in August 2015.
So this could have only been paid from the April 2015 raising $733,172
