GGG Resources quits Banten gold project
Wednesday, September 29 2010 - 05:26 PM WIB
London Stock Exchange-listed gold exploration firm GGG Resources plc reported on Wednesday that it has decided not to continue with Cikoleang gold project in Banten province in order to concentrate on Bullabulling gold project in Australia.
The Company said in an Interim Results that it had decided to cede option on the project in June 2010.
The company entered into an exclusive option agreement over the Cikoleang Gold Property with a local partner company PT Fino Bersaudara in December 2009.
Cikoleang Gold Property is located approximately 100km southwest of Jakarta, near to the presently closed Cikotok gold mine which has been operated since the Dutch colonial times until recently when it was operated by PT Aneka Tambang.(alex)