Provident considers buying 20% of One Asia?s gold projects
Tuesday, December 2 2014 - 08:16 AM WIB
ASX-listed investing firm Lion Selection Group announced on Tuesday that it had been informed that its investee One Asia Resources Limited (One Asia) has entered into arrangements with Provident Capital Partners Pte Ltd (Provident) to acquire 20% of One Asia upon successful restructuring of the Pani IUP arrangements.
One Asia is an unlisted Australian company focused on two advanced exploration gold projects, Pani and Awak Mas, in Sulawesi.
Lion has been involved with Provident for a number of years as co-investors in Sihayo Gold, and is strongly supportive of Provident?s strategic involvement with One Asia.
Lion said no deal has been reached between both One Asia and Provident as negotiation is still in progress.
But, One Asia has welcome the possible acquisition of its shares by Provident in a statement on Oct. 31.
?Provident is a proven and successful investment group in Indonesia and their involvement is a significant vote of confidence in the Pani gold project. We are extremely pleased in establishing a partnership with Provident, they bring to One Asia a team with extensive Indonesian experience and networks which will be invaluable to One Asia as the company grows,? Adrian Rolke, Managing Director of One Asia welcomed Provident as One Asia?s strategic partner in a statement on Oct. 31.
Editing by Johannes Simbolon