Prosperity: Strategic focus on Indonesia
Wednesday, April 8 2009 - 01:18 AM WIB
(8 April 2009)--Prosperity Resources Limited announced today that the Company will focus on metals projects in Indonesia, mainly gold, silver, copper and nickel. The first step in this strategy is the recently announced acquisition of the Pinang- Pinang gold copper project in Aceh, Indonesia.
Owing to this new focus on Indonesia the Company is seeking expressions of interest for the purchase of its iron ore assets in Western Australia and its Yalgoo gold project in Western Australia.
The Company will retain its 100% owned Tennant Creek gold copper assets in the Northern Territory and will continue to explore and develop these on an ongoing basis.
The Company continues to evaluate other metalliferous projects in Indonesia including iron ore and manganese with a view to acquiring projects which will generate cash flow in the next twelve months. (end)