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Monday, 19th January 2009 (1389 views)

International Gold Exploration (IGE) has revealed plans to concentrate its attention on projects that have "near-term cash flow generating prospects".

The company has stated that it is refocusing its activities in response to the global economic slowdown and its main focus will be on the Kilimapesa gold project in Kenya.

ICE expected the gold project to be commissioned this month and to start generating cash flow during the first quarter of 2009, with low capital requirements.

The Swedish exploration and mining firm has also increased its cost reduction measures in order to ensure that it maximises performance in the current economic climate.

Listed on the Oslo Stock Exchange and the Swedish NGM-equity list, ICE has a portfolio of projects in Angola, Kenya, Burundi, Sweden and Norway and is based in Stockholm.

ICE is aiming to become a leading exploration and mining company in Africa and Scandinavia and operates as three separate business units - IGE Africa, IGE Nordic and IGE Diamond.

 

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