Golden Valley might quit last Indonesian gold prospect

Australian junior gold explorer Golden Valley Mines NL said on Tuesday that it was still unsure whether to continue its remaining gold exploration area in Indonesia

?The Company continues to review its options relating to its remaining exploration project in Limbung, West Java,? said the company in its quarterly report.

Last year, the company gave up its Tumpang Pitu gold project in East java after failing to attract partner.

Industry sources said Golden Valley had been trying to search for partners for Limbung project, but thus far no one seemed to be interested.

?I think they?ll quit the project pretty soon,? said the sources.

The sources said regional autonomy euphoria and lack of clarity in regulations had hampered potential investors to take interest in any such project, especially in the island of Java. (alex)