WMN applies for extension of Persada tenement

By Ruli Setiawan

ASX-listed Western Mining Network (WMN) announced on Friday that the tenement comprising the Persada Gold Project in Central Sulawesi is due to expire on Aug. 12, 2016. The company has lodged a renewal application for an additional period of 12 months, which it expects will be granted in the coming weeks.

Due to its recent focus on the Tamboli Project, the firm said it has dedicated limited resources and capital to the Persada Gold Project.

The company is presently formulating a work plan for the Persada Gold Project which will target the completion of sufficient work on the tenement to enable the company to properly assess at the end of the 12 month period whether to re-apply for the tenement comprising the Persada Gold Project.

WMN has 75 percent of PT Persada Bumi Waras (PBW), which holds the Persada Tenement. The tenement has clean and clear status, covers an area of 5,000 hectares in the Buol region of Central Sulawesi province and is considered to be prospective for gold.

Editing by Johannes Simbolon