Release: Archipelago Resources appoints specialist resources broker Ambrian Partners Ltd
Wednesday, August 3 2005 - 05:02 PM WIB
(London, August 2, 2005) Archipelago is pleased to announce that Ambrian Partners Ltd, London?s specialist resources broker and financial advisor, has been appointed broker to the Company effective from the 1st August 2005. Ambrian assisted Archipelago with a successful placing in May and Archipelago looks forward to working with Ambrian as it proceeds towards gold producer status with development of its Toka Tindung Gold Project in Sulawesi, Indonesia.
The Toka Tindung Gold Project has a resource of 1.75M ounces (ozs) of gold equivalent, of which at least 0.9M ozs will initially be mineable by open pit. Production is targeted at 160,000 ozs per annum for an initial 6 year mine life commencing in mid 2006.
Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company?s principal activities are gold mining and exploration in Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a Vietnamese Government mining company) and the Philippines (as option holders over a 100% interest in the Corplex tenements).(end of release)