Wetar Copper Project Update

 
TIDMFND 
 
For Release: 24(th) December 2010 
 
                          Wetar Copper Project Update 
 
The  Regent  of  Maluku  Barat  Daya,  who administers the area covering Finders 
Resources'  copper project on Wetar Island, has written to a number of companies 
with  exploration  tenements  in  the  district  including  Finders.  The letter 
requests the companies to finalise permits required for access to forestry areas 
and  to suspend activities  until the permits  are issued.    Finders have taken 
the  view that it is prudent to shut down the demonstration plant temporarily in 
response to this request. 
 
Applications  allowing Finders to  recommence work in  tenements within forestry 
areas  are at various stages  in the approval process.     At this stage Finders 
expects  the  permits  covering  Finders'  Wetar  copper project to be issued in 
January,  in which  case, Finders  estimates that  approximately 50t of budgeted 
copper cathode production will be delayed by up to a month. 
 
The  application for the grant  of a mining permit  continues to be processed by 
the   local   authorities.      Detailed   engineering  activities  continue  in 
preparation  for a revised Stage 2 capital cost estimate.  Transportation of the 
Whim  Creek plant to Indonesia is now planned  for the end of the first quarter, 
with   a  crew  scheduled  to  dismantle  the  recently  purchased  stacker  and 
agglomerator in February. 
 
 
For further information please contact 
 
Finders Resources Ltd: 
Russell Fountain, Chairman, [phone] 
Chris Farmer, Managing Director, [e-mail] 
 
 
 
 
 
 
 
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Source: Finders Resources Limited via Thomson Reuters ONE 
 
[HUG#1475571]