Mutiara demand Iriana to pay debts within 10 days

Canadian junior mineral explorer Iriana Resources Corp. announced that Mutiara Resources Corporation Pte Ltd., the largest single shareholder of Iriana and lender to it under a financing agreement, on Tuesday issued a notice of demand for payment within 10 days of the indebtedness due Mutiara in the amount of US$2,516,448 principal and accrued interest.

Iriana said Mutiara has reserved its right to apply for appointment of an interim receiver in the event of non-payment of the outstanding amount and to proceed without further notice after expiration of such 10-day period to enforce its rights.

Iriana Resources Corporation is a TSE listed mineral exploration and development company with mineral properties in Indonesia and Canada.

In Indonesia Iriana has several mineral exploration areas such as Papua and East Nusa Tenggara. (alex)