Company History
Indo Gold Ltd (IGL) is an unlisted public company established on 15 September 2004, with its head office in Brisbane, Queensland, Australia. It was spun-out of another privately-held, Brisbane company called BSM Mining NL (now Pty Ltd) which was itself established in 1998 by two principals of IGL, Michael Higgins and Christopher Rashleigh, to identify and acquire advanced stage mineral resource assets globally.
Thus, its antecedents lay claim to more than a decade of history, including acquisition of exploration assets and a listing of a separate company on the TSX:V exchange.
IGL's principals were attracted to India in 2004 by an ex-Billiton Collegue, Surender Chaku who had built-up an attractive exploration portfolio in his local Indian company.
Subsequently in October 2004 IGL formed a Joint Venture (JV) with Metal Mining India Pvt Ltd (MMI), a privately-owned Indian company, with IGL and MMI holding 70% and 30% respectively. To manage the affairs of the JV, the partners established a private Indian company named Indo Gold Mines Pvt Ltd (IGMPL), which has its registered office in Bangalore, Karnataka State.
In addition to establishing the JV with MMI, IGL also formed Indo Gold Resources Pvt Ltd (IGRPL), a 100%-owned subsidiary involved in mainly gold exploration in Rajasthan and the greenstone belts of southern India.
Bengal Minerals Pty Ltd (BMPL) is an associated Brisbane-based company which shares administrative and management functions through re-charge agreements with IGL. BMPL is 21.6% owned by IGL. BMPL was established in 2005, with similar seed capital investors as IGL, to undertake non-gold exploration in India. BMPL holds a 100%-owned Indian subsidiary called Bengal Exploration (India) Pvt Ltd (BEIPL) which has applications pending in polymetals, diamonds and iron ore, all in Rajasthan.
Structure
