Click link here >>>> "Lole Mining Ltd, to Run Tolukuma Gold Mine" — News — PNG Business News
Oct 4th 2021 History lesson:
Lole Mining Ltd, a local business with foreign partners, will receive the mining license for the Tolukuma gold mine in Papua New Guinea.
The liquidator, Andrew Pini, recommended that the deal be registered, something we have already recommended to the mining minister. Secondly, we will then transfer the licence to Lole Mining. They don’t own the licence yet.
Now-
Still need to spend millions to get Tolukuma back online...
At 2/4/2022: Mr MacPherson also stated that the entire investment for the mine restart would be in the range of US$220 to $250 million, which is a significant sum that will only be known once the mine is dewatered.
This mine has a history of 60,000 to 150,000 ounces of Au noted a 10yr mining license ( as per article )
Thinking After acquisition our TEM market cap $44Mill = 19 + 25
So we look forward to some more announcements.
Ann: Transformative Acquisition - Tolukuma and Mt Penck Projects, page-71
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