June 25 (Reuters) - Ardea Resources Ltd ARL.AX :
* INTENDS SPIN-OUT OF NSW LACHLAN FOLD BELT GOLD AND BASE METAL TENEMENTS INTO NEW IPO NAMED GODOLPHIN RESOURCES LTD
* IPO CAPITAL RAISING TO ISSUE OF UP TO 40 MILLION NEW FULLY ORDINARY PAID SHARES IN GODOLPHIN AT ISSUE PRICE OF $0.20 PER SHARE
* TO RAISE A MINIMUM OF $4.5 MILLION AND UP TO $8 MILLION FROM IPO CAPITAL RAISE
* PROPOSED GODOLPHIN BOARD WILL HAVE MARK SYKES AS NON-EXECUTIVE CHAIRMAN
* CO'S SHAREHOLDERS TO RECEIVE IN-SPECIE DISTRIBUTION OF 30 MILLION GODOLPHIN VENDOR SHARES AT NIL COST