Paşol's brokers raise half a million euros with gold fund

The public share offering conducted by closed-end investment fund iFond Gold, which offers investors the possibility of investing in Romania's gold-bearing projects, has attracted over 2 million RON from investors, being fully subscribed four days ahead of the end of the subscription period.
The manager of the fund is supplementing the offering to a maximum of 10.1 million RON.
"iFond Gold is the first local product to offer access to investors to the gold mining industry. The volume of subscriptions shows, however, that there is money on the market. The big problem of the capital market is the low number of products that can stir interest among investors," said Adrian Lupşan, deputy general manager of brokerage firm Intercapital Invest, run by Răzvan Paşol. Intercapital brokers iFond Gold's offering.
Around 60% of the cash raised as part of the offering will initially be invested in shares of Gabriel Resources (40%) and European Goldfield (20%), which want to mine the big gold deposits in Romania in Roşia Montana and Certej, with the rest to be invested in other similar projects around the world. The offering ends on Monday, November 29th.