IBK Capital raised $4 million in units of common shares and warrants for Spruce Ridge Resources Ltd.  The company controls the North Brook uranium property in the Deer Lake Basin, Newfoundland. Anomalous radioactivity was located over a length of 798 metres in intermittent outcrops in the banks of the brook.  The near surface mineralization had a uranium content of up to the equivalent of 3.73% U308 with 1% copper, 0.89% zinc , 0.23% lead and 65.9 grams per tonne silver.

IBK Capital raised US$3.8 million for Uranium Star Corp. (now Energizer Resources Inc.) in units of common shares and warrants and units of flow-through shares and warrants. Energizer is now focused on its Green Giant graphite project in Madagascar which has a resource target of 80 million tonnes at grades of 6% to 10% carbon.

IBK Capital managed the Canadian tranche of a US$15.8 million equity private placement offering led by Everen Securities for Uranium Resources, Inc.