Kirrin recorded a net loss of $40,013 during the quarter, as against a net loss in the comparable quarter in 2011 of $125,831, which included a tax credit of $44,519.
The company announced that as part of its long-term strategic plan, Mr. Gorden Glenn has been appointed as Chief Executive Officer of the company effective immediately.
Under the entitlement offer, eligible shareholders are invited to participate pro-rata to their existing holdings by subscribing for 3 new Ivanhoe shares for every 10 existing shares, at a price of A$0.48 per New Share, to raise up to A$80 million.
Conquest's exploration activities on its 100% owned Alexander Property total $6.1 million, the majority of which are drilling activities conducted during 2009 through 2011.
The Burnt Hill property covers more than 125 square kilometres in central New Brunswick with 43-101 compliant tungsten, tin and moly resources calculated in 2009.
Following the consent solicitation process, 41%, 40% and 90% of the outstanding principal amount of the Gold Loan Notes, 2014 Notes, and 2015 Notes, respectively, were amended into 8% Gold-Linked Notes due May 6, 2015.
San Gold announced that it has purchased a total of 733,333 units of Cougar Minerals at a price of $0.15 per Unit pursuant to a subscription agreement effective as of November 20, 2012.
