antam to increase and fund, page-49

Looks like Antam are busy... a little similar to the write up about ARX that Bacchus posted........note the "No offer at this time" part of this announcement...

ARX also has a strong relationship with Antam and never seems to hype things up... something I have always liked about ARC...



Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2 000
Dear Sir / Madam,


PUNGKUT GOLD PROJECT UPDATE
Last week PT Antam Tbk (“Antam”) reported in the Indonesian web site
Petromindo.com that Antam is in talks with Oropa Limited (“Oropa”) to
increase its interest in the Pungkut gold project, located in North Sumatra,
Indonesia. Antam is currently entitled to a 25% interest in PT Sorikmas Mining
(“Sorikmas”), the holder of the Pungkut Contract of Work, with the remaining
75% being held by Oropa.
In the interests of maintaining an informed market, Oropa wishes to disclose
the following:
• Antam has recently been undertaking due diligence on the Pungkut project.
• Oropa has a strong existing relationship with Antam and has been assisting
with the due diligence process.
• No offer has been received at this time.
In the meantime, work continues on the Scoping Study being undertaken by
SRK Consulting (Australasia) Pty Ltd for the ongoing development of the
Pungkut project. Final results of that work are expected by mid-October.
Yours faithfully,
OROPA LIMITED