Padang completes Paser Project due diligence
Tuesday, June 19 2012 - 09:05 AM WIB
By Ruli Setiawan
ASX-listed firm Padang Resources Limited recently announced it has completed due diligence on the Paser Project, East Kalimantan and will now proceed with its resource definition program.
The company also stated it has decided not to proceed with the West Papua Project or the West Sumatra (also referred to as the Lumpo Project) Project, focusing on Paser instead.
Padang is preparing a Notice of Meeting to be put out to the shareholders for approval of the acquisition of 70% interest in Paser.
Editing by Audy Zandri