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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Archipelago Res | LSE:AR. | London | Ordinary Share | GB0033551721 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0336V Archipelago Resources PLC 02 December 2005 ANNOUNCEMENT FIRST CONSIGNMENT of MINING EQUIPMENT arrives at TOKA TINDUNG MINE SITE Further to the Company's announcement on 12 August 2005 that it had awarded a Mining Contract to PT Leighton Contractors Indonesia, Archipelago Resources plc is pleased to report that the first consignment of mining equipment has arrived at the Toka Tindung mine site in Sulawesi, Indonesia. The new equipment, all of Caterpillar manufacture, comprises an 85 tonne excavator, D8 dozer, large grader and eight 40 tonne six wheel drive articulated dump trucks. Further deliveries of similar equipment will arrive prior to the commencement of mining scheduled for early next year. A debt facility required for project development is currently being finalised by N.M. Rothschild & Sons (Australia) Limited ("Rothschild") in accordance with the exclusive financing mandate awarded to Rothschild announced on 19 May 2005. The Toka Tindung Gold Project has a resource of 1.75M ozs of gold equivalent, of which at least 900,000 ozs will initially be mineable by five open pits. The project is targeted to produce an average 160,000 ozs per annum of gold equivalent over the initial 5 years of the current 6 year mine life commencing in late 2006. Archipelago is a mining company listed on the AIM market of the London Stock Exchange. The Company's principal activities are gold mining and exploration in Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam (as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a Vietnamese Government mining company) and the Philippines (as option holder over a 100% interest in the Corplex tenements). Further Info: Colin Loosemore, Managing Director, Archipelago Resources Plc. Tel: 00-618-9364-8301 Emma Priestley / Richard Chase, Ambrian Partners Ltd Tel: 020-7776-6465 / 020-7776-6461 Ron Marshman / John Greenhalgh, City of London PR Limited Tel: 020-7628-5518 www.mining-investor.com/arch This information is provided by RNS The company news service from the London Stock Exchange END MSCDGMGZVZRGKZG
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