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[caption id="attachment_371" align="alignright" width="120" caption="I G E"]<strong><strong><a href="http://blog.biggstock.com/wp-content/uploads/2010/05/ige_biggstock1.gif"><img class="size-full wp-image-371" title="ige_biggstock" src="http://blog.biggstock.com/wp-content/uploads/2010/05/ige_biggstock1.gif" alt="" width="120" height="75" /></a></strong></strong>[/caption]

<strong> </strong>IGE Resources closed its first fiscal quarter with a loss of $2.85 million (SEK 21.7 million or SEK 0.03 per share), compared with the loss of $696,000 (SEK 5.3 million) it posted one year ago. The company doesn't report in dollars, but it spent $1.5 million to buy diamond operations from Pangea Diamond Fields and took a loss of $643,000 from the sale of exploration permits.

IGE further reported that it had reached an agreement with <strong>ENDIAMA</strong> to move toward production at the Luxinge diamond project. IGE Resources' portfolio includes exploration for diamonds, gold and nickel

REF: <a href="http://www.rapnet.com/News/NewsItem.aspx?ArticleID=30981" target="_blank">IGE</a>