Also note at the time Antam said in a separate press release:
“The execution of the MOU with Oxiana is inline with our intention to keep gold as an important part of our product mix and to offset the depleting reserves of our gold mine at Pongkor. Acquiring gold and diversifying away from nickel are important parts of our main strategy to create shareholder value in the medium term. We are pleased to make this alliance with Oxiana and hope that it may be the starting point for creating other potentially value-creating projects in Indonesia.”
Obviously the deal with Oz Minerals has not been formalised as nothing has been announced yet either. In other words Antam may yet pull out. Perhaps they are interested in something else instead.
ORP Price at posting:
3.0¢ Sentiment: None Disclosure: Held
