Coke Resources extends Indotan's acquisition
Wednesday, March 20 2013 - 01:41 PM WIB
ASX-listed Coke Resources recently stated it has amended previous agreement to acquire Indotan by a further deed of variation between Coke Resources and Southern Arc in March 2013.
PT Indotan Sumbawa Barat holds a permit to carry out exploration and a feasibility study for gold at the Taliwang gold project in Sumbawa, the company said in a statement on Wednesday.
The Taliwang property covers an area of 31,204 hectares and is located on the West coast of Sumbawa Island, about 15 km to the north of Newmont's world-class Batu Hijau porphyry copper-gold mine, hosting proven secondary NNE to NE- and SW-trending mineralized structures.
Up to 75% the Taliwang project is currently owned and operated by Southern Arc Minerals Inc.
The company has decided to extend both of those acquisitions time limit from 31 March 2013 to 28 June 2013.
Editing by Er Audy Zandri