Lithion gets greenlight to sell Indonesia copper- gold prospects

By Alexander Ginting

Vancouver-based mining firm Lithion Energy (formerly Barisan Gold) reported on Thursday that its has received approval from shareholders to sell its two Indonesian copper-gold properties to undisclosed Indonesian private company.

Under the conditional sale and purchase agreement, Lithion will sell its entire 80 percent stake at PT Gayo Mineral Resources and PT Linge Mineral Resources for a total of US$ 1 million.

Closing of the transaction is subject to final due diligence by the private Indonesian company, and regulatory approvals in Indonesia. The transaction is expected to close during the second calendar quarter of 2017, the companys said.

The properties are located in the Aceh Tengah and Gayo Lues Regencies of the Province of Nanggroe Aceh Darussalam in northwest Sumatra.