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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:5271Q Archipelago Resources PLC 20 March 2008 ANNOUNCEMENT TOKA TINDUNG GOLD PROJECT FINANCING and PROPOSED GENERAL MEETING On 17th March 2008 Archipelago Resources plc ("Archipelago" or "the Company") announced that it had received Government approval to proceed with development of the Company's Toka Tindung Gold Project in North Sulawesi, Indonesia (" Project"). The Company also advised that based on the very robust economics of the Project at today's gold price and the need to fund increased project capital costs arising from the delay to approval, that it is in discussion with its syndicate banks to increase the project loan facility to avoid or minimise the need for any additional equity raising. Since last being granted shareholder approval, the Company has undertaken several placements of shares and now seeks approval to refresh its authority level in accordance with prudent corporate practice. While the Company currently has no immediate requirement to issue additional shares, it considers it appropriate to have the necessary authority in place in case this situation changes or if for any other unforeseen reason the Company wishes to issue shares including to take advantage of opportunities which may arise. Accordingly, a Notice has been issued to shareholders regarding the calling of a General Meeting to grant authority to the Directors to issue additional shares in the Company. 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 Pac Lang and Cam Thuy/Ba Thuoc joint ventures with VINACOMIN 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 Richard Chase, Ambrian Partners Ltd Tel: 020-7776-6461 Ron Marshman / John Greenhalgh, City of London PR Limited Tel: 020-7628-5518 Gerry Beaney / Fiona Kindness, Grant Thornton Corporate Finance Tel: 020 7383 5100 www.archipelagoresources.com.au This information is provided by RNS The company news service from the London Stock Exchange END NOESFWFWUSASEID
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