Midlink International acquires shares of Paramount Mining
Tuesday, February 5 2013 - 09:12 AM WIB
ASX-listed Paramount Mining Corporation, an Australian mineral resource exploration and development company focusing on precious and base metal deposits in Indonesia, particularly through its flagship Gunung Rosa gold, silver and base metal project, recently stated the inclusion of Hong Kong based Midlink International to its share register as a substantial shareholder.
"Midlink holds an 8.44% interest in the company following the acquisition of a total 29.39 million shares on 29 May 2012 and 1 February 2013," the company said in a statement made available to the exchange.
Paramount is known to hold 72.25 percent equity interest at The Gunung Rosa project, located within a 1,000 hectare Exploitation Licence (IUP) in West Java Province granted in 2010.
The project is currently entering the final stage of pre-development with mine refurbishment and plant construction expected to start sometimes this year.
Editing by Er Audy Zandri