Salim raises interest in Robust to 14%
Tuesday, April 24 2012 - 12:34 PM WIB
Droxford International Limited, controlled by the Salim Group, has bought more shares of Australia-listed mining company Robust Resources Limited from the stock market, raising its interest in the company to 12. 26 million shares from 9.06 million shares.
With the purchasing of the new shares, Droxford has raised its vote power in Robust to 14 percent from 10.37 percent, the company said in a notice, dated April 23, 2012, signed by Director Anthoni Salim.
According to the notice addressed to Robust, the share purchasing was carried out on April 20, 2012.
Robust is exploring for gold on the Romang Island, in Maluku.
The company has announced the discovery of maiden JORC resource of 1.18 million gold equivalent ounces on the island and Robust's Managing Director Gary Lewis recently said it is committed to spending US$15 million for exploration this year.
Editing by Johannes Simbolon