Austindo seek to acquire new Indonesia projects
Wednesday, April 28 2004 - 03:44 AM WIB
Austindo seek to acquire new Indonesia projects
ASX-listed mining frim Austindo Resources Limited said it was in ?advanced stahe? to seek new projects in Indonesia to add to its portfolio.
The company did not provide further detail, except saying that it was ?looking to capitalize on its ?in-country? capability?. ?A number of targets are under consideration,? said the company.
Austindo also said it was on track to complete bankable feasibility study on its Cibaliung gold project in Banten province, with completion scheduled June this year. Austindo has 82.25 percent working interest in the project. Cibaliung has resources of 550,000 ounces of gold.(alex)