www.indiaresources.com.au
India Resources Limited (ASX: IRL) operates the Surda Copper Mine in India. IRL has developed a close commercial alliance with Hindustan Copper Limited (HCL, a Government of India enterprise). These alliances with HCL are a first for an overseas group. Hindustan Copper is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Calcutta and Madras exchanges.
India Resources receives first payment from proposed 100% return from Monarch
India Resources (ASX: IRL) has received the first instalment of $602,966 with respect to the debt that it is owed by Monarch Gold Mining Company (ASX: MON).
The payment has been made by Stirling Resources (ASX: SRE) in advance of completion of the Deed of Company Arrangement, which is now expected to occur by 31 December 2009.
IRL’s portion of the Monarch shares allocated is approximately 32.158 million shares at a deemed issue price of 5 cents per share on completion. The value of the share consideration assumes the average sale price of the shares issued is not less than the deemed issue price of 5 cents per share.


















