Aurora Gold completes N. Sulawesi gold prospect sale
Thursday, April 18 2002 - 10:48 AM WIB
Australian gold mining firm Aurora Gold Limited said Thursday that on March 27, 2002 it had completed the sale of its North Sulawesi gold mining project to Archipelago gold Limited for a deferred consideration contingent on the development of a commercial mining operation.
Aurora Gold decided to quit Toka Tindung project due to rampant illegal miners at the mine site and local government had not done anything to stop them,
Aurora Gold has 85 percent share holding in the PT Meares Soputan Mining and PT Tambang Tondano Nusajaya Contracts of Work, which comprise the Toka Tindung Project, which has been occupied by illegal miners since the middle of 1999. (alex)