Wilton completes placement of shares

By Romel S. Gurky

SGX-listed Wilton Resources Corp Ltd announced Wednesday that it has completed the placement of 55.55 million of new ordinary shares in the capital of the company to Tay Shu Chin at a placement price of S$0.054 per placement share as part of a private placement deal.

The company completed on April 21 the private placement, raising S$3 million to help finance the development of a gold mine in Indonesia.

Wilton holds the mining and production licenses for two concession blocks, known as the Ciemas gold project, covering an area of approximately 3,078.5 hectares in West Java, out of which only an area of 200 hectares has been explored. The most recent Independent Qualified Person?s Report (IQPR) of Wilton?s assets dated June 2015 contains an estimate of total mineral resources for the Ciemas gold project of 4.6 million tons containing approximately 39,000 kg of gold. Total production costs (C3) for the Ciemas gold project have been estimated as part of a scoping study of between US$600-US$700 per ounce of gold.

Editing by Reiner Simanjuntak