Terra Firma signs MOU to acquire Sulawesi copper, gold property
Tuesday, April 19 2011 - 04:02 PM WIB
Vancouver-based metal exploration firm Terra Firma Resources Inc. announced Tuesday that its Indonesian subsidiary, PT. Terra Mineral Resources Indonesia, has entered into an MOU with two Indonesian companies to acquire acquire 75% of the issued and outstanding shares of Mutiara.
Mutiara is an Indonesian mineral exploration company that holds an 800-hectare mineral exploration license in respect of an initial 800 hectare property in South Sulawesi which is prospective for Gold and Copper. In addition, Mutiara is expected to acquire an additional 10,000 hectares of prospective lands located within the 25 kilometre radius "area of interest" defined in the MOU.(romel)