3D Resources updates West Timor projects

Australia-listed firm 3D Resources Ltd. reported Thursday that it has progressed its plans to acquire new projects by signing a Memorandum of Understanding with an Indonesian group that has Manganese, Iron Ore and Coal interests throughout Indonesia/West Timor. The Company is also in discussion with other parties that have projects in the South East Asia region.

The Company said that it has commenced a detailed review of the Indonesian group?s exploration and mining licenses in West Timor and Flores that it expects to complete in the next two months with an expectation of shortly moving to a binding exploration agreement.

The Company has also commenced reviewing the Manganese trading activities presently undertaken by the Indonesian group. The Company retains the right to participate in manganese trading activities of the group, which 3D sees as an added opportunity to access other potential resources, it said.

3D staff will shortly return to Indonesia to progress the Manganese opportunities and finalize preliminary Due Diligence ahead of execution of binding agreements to undertake initial exploration activity. (romel/kanti)