Richfield acquires C. Sulawesi molybdenum project

ASX-listed electronic distributor Richfield Group Limited announced on Tuesday that it had decided to proceed with the acquisition of Toli-Toli molybdenum project in Toli-Toli regency in Central Sulawesi.

The company said the acquisition is subject to completion of detailed legal agreements and finalization of all government registration.

The company said in December 2007 announcement that it would acquire 75 percent shares of Victory West Pty. Ltd., a company having right to exploration and exploitation of molybdenum in Indonesia. Victory West through its Indonesian subsidiaries had acquired five exploration-mining leases where previous exploration works had been carried out by Rio Tinto with expenditure of US$20.5 million.(alex/denny)

KP Holder	Number	KP Type	Area (Ha)	Granted	Expiry
PT Sembilan Sumber Mas	188.45/2533	Exploration	4,845	30/11/2007	29/11/2010
PT Promistis	188.45/2534	Exploration	4,872	30/11/2007	29/11/2010
PT Era Moreco	188.45/2535	Exploration	5,000	30/11/2007	29/11/2010
PT Indo Surya	188.45/2536	Exploration	4,884	30/11/2007	29/11/2010
PT Satria Mas	188.45/2537	Exploration	5,000	30/11/2007	29/11/2010
PT Inti Cemerlang	188.45/0217	Exploration	4,146	25/01/2008	24/01/2011