Mining billionaire Robert Friedland has regained direction and control over 25-million shares in Ivanhoe Mines that were previously pledged as security for a loan made to Friedland by a commercial bank.
The common shares constitute 2.1% of the 1 194 039 162 common shares of Ivanhoe currently issued and outstanding.
Friedland's controlled affiliate, Newstar Advantage, continues to be the registered owner of 135 570 260 common shares, which includes the 25 000 000 common shares released from the pledge by the lender and over which Friedland now exercises direction and control.
Friedland directly owns 34 454 717 common shares, which in aggregate total 170 024 977 common shares, representing in aggregate about 14.2% of the common shares currently issued and outstanding.
Friedland also may be deemed to own 2 525 000 common shares issuable on exercise of previously granted options.
Ivanhoe is advancing its projects in Southern Africa, including the Platreef platinum/palladium/gold/nickel/copper project, Kamoa-Kakula copper project and Kipushi project.