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Thursday, 30th September 2004 (4625 views)

Archipelago Resources has revealed it is in negotiations to raise debt and equity finance in a bid to fund a gold project in Indonesia.<BR/><BR/>The London-listed junior gold firm claims that by the end of September it will have cash resources of around £450,000 for all current commitments until the end of the year.<BR/><BR/>According to Reuters, the company has already completed a review of the feasibility study by the mine's previous owner.<BR/><BR/>The firm has an 85 per cent share in the Toka Tindung Gold Project in Indonesia, which it acquired in 2002.<BR/><BR/>Archipelago is interested in the production and exploration of gold and other base metals and also explores for the precious metal in Vietnam and the Philippines.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3499838"/>

 

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