UK?s Finders finalizes Lampung gold project acquisition
Friday, March 24 2006 - 03:27 AM WIB
UK junior miner announced on Thursday it has finalized the acquisition of additional interests in the Ojolali Gold-Silver Project in Lampung, Sumatra
The interests were acquired from the other shareholders in Way Kanan Resources Pty Ltd (WKR), the corporate vehicle for Ojolali, being Great Northern Resources Pty Ltd and PT Batutua Kharisma Permai (BKP). BKP is Finders Indonesian partner for both Ojolali and the Wetar Copper Project, Maluku.
Under share sale and purchase agreements between Finders and GNR and BKP, Finders has acquired a further 41% shareholding in WKR by paying US$367,000 cash and issuing a total of 4,207,875 new Finders shares. Following this acquisition, Finders? has a 71.71% shareholding in WKR. (alex)