Standard Chartered to support financing of Straits Resources
Tuesday, October 2 2012 - 05:30 AM WIB
ASX-listed Straits Resources Limited announced that the company?s largest shareholder, Standard Chartered Private Equity Limited has confirmed its support to the company for financing and other operational initiatives.
The statement did not give any further detail on the mentioned financing support and operational initiative.
Standard Chartered which holds 18.44 percent of shares in Straits would also subscribe for its full pro-rata entitlement of new shares under entitlement offer which has closing date of October 4.
Straits was formed through the de-merger of the metal assets from diversified resource company Straits Resources Limited (renamed International Coal Holdings Ltd), and was listed on the Australian Stock Exchange on 2 February 2011.
Straits is a mining and exploration company focused on copper and gold in Australia and Asia.
Straits controls and operates the Tritton Copper Mine in NSW, Australia, and the Mt Muro Gold mine in Indonesia, and has an exciting exploration portfolio focusing on projects in NSW and South Australia.
Editing by Adianto P. Simamora