Golden Valley completes E. Java gold project exit

Australian mineral explorer Golden Valley Mines Limited said Thursday it had completed the process of withdrawing from its exploration activities in Tumpang Pitu gold prospect, East Java where it had 75 percent stake.

? As a consequence, all relevant security deposits have been returned in full plus interest,? said the company in a statement.

Meanwhile, in Limbung gold project, West Java, where it has 80 percent stake, the company had maintained its interest in this project whilst endeavouring to attract a joint venture partner.

?The Company continues to review its options relating to its remaining exploration projects in Indonesia,? said the statement. (alex)