Southern Arch undertakes strategic review of Indonesian properties
Tuesday, November 27 2012 - 02:11 AM WIB
By Peni Pedriawan
Canadia-based firm Southern Arc Minerals said that while it was pleased with the issuance of a Pinjam Pakai permit for the West Lombok property, the board of directors has decided to conduct a strategic review of all of the company?s properties in Indonesia.
The company has delayed the previously announced drilling program on the West Lombok property, pending completion of this review, it said in a statement received on Tuesday. The company anticipates providing an update to shareholders by December 14.
Editing by Reiner Simanjuntak