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Goldstream evolves to IMX Resources

Friday, December 7th, 2007

Goldstream Mining has changed its name to IMX Resources, reflecting the next stage in the development of the diversified mining house.
The name change was overwhelmingly supported by shareholders at the Company’s AGM this week. The Company will now be listed on the ASX under the new code IXR effective from 11 December.
IMX Resources Managing Director Duncan McBain said the acronym and name reflected the company’s strategic focus on value through investment, mining and exploration.
“The change in name is the next phase in the development of the company, as it moves toward establishing itself as a significant and diversified mining house,” Mr McBain said.
“In recent months we have made a number changes to the Company structure as part of its evolution, and have also bolstered the Board with the addition of significant skills and experience, including the appointment of Johann Jacobs as Chairman.
“The timing was right for the change, and this was reflected by the fact it was overwhelmingly supported by shareholders at our AGM,” Mr McBain said.
Mr McBain said the change of name was a precursor to the final stage of the evolution, with the Company to change from a no liability (NL) company, to limited liability (Ltd) company in the near future.
“The Board is structuring the Company to include producing assets, investments and exploration targets to ensure diversity and longevity in value to shareholders,” he said.
Mr McBain said the approach allowed IMX to refocus it current efforts on Australia, and in particularly its Cairn Hill iron ore project in South Australia, where it has considerable progress toward mining and production.
IMX also retains its strategic 39.5% shareholding in uranium company Uranex, and its 51% holding in Toronto Stock Exchange listed Continental Nickel (TSX:CNI).
IMX would also continue to pursue prime exploration targets such as Mount Wood in South Australia, where it had identified promising anomalies in one of the world’s best exploration addresses for copper, gold, iron ore and uranium.
“IMX aims to drive long term value for shareholder by optimising resources across these three areas – investments, mining and exploration – to drive long term shareholder value,” Mr McBain said.
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