a little background

a little background to this tenement and indo mining law for those interested (more LT holders)

going by the pt pmm (owner of 'cow') website this tenement has been gradually explored and drilled by 7 different explorers over the last 30 years, going back to 1980.

one of these explorers was prosperity resources (asx code:psp) and they explored the tenement mainly during 2005-2007. according to their sep 09 quarterly they offloaded their stake in the project for US$112,500. there are a lot of old announcements that can be searched on the asx website for those curious.

a few more links for those interested in digging deeper

1. the pt pasifik masao mineral(pmm)website that outlines previous explorers and a paragraph on each outlining their activities

http://ptpmm.com/?ForceFlash=true#/submenu/previous-explorers.html

2. an article outlining the new 2009 indonesian mining law and how it may affect 'cow's

http://www.asialaw.com/Article/2121729/Channel/22098/Indonesias-New-Mining-Law.html

3. an explaination of what the hell a contract of work (cow) actually is

http://www.iflr.com/Article/2025438/Channel/193438/Indonesia-Mining-regulations.html

A couple of other observations

it seems that within the masuparia tenement there are up to 6 areas that have been so far targeted by past drilling/exploration. some of these are:

1. ongkang/290 vein

is probably their best bet at the moment with some bonanza grades in the drilling results, however averaged out the average au grade is probably closer to 3-5 g/t (still not bad over a large area i suppose)

2. rina project

this was heavily targeted by prosperity resources, who used diamond drilling down to 850 metres to determine this was a cu-au porphyry system. i'm no geologist but the average over the drilling is about 0.2% cu and 0.3% au, so would this be sufficient to go ahead and mine?

3. kaka project

this is the one some are quoting as 48m at 5.8% cu, however, to my understanding these are trench results which are over width and not depth, so will be curious to see some drill results on this area


some other considerations:

-indonesia is vastly underexplored, especially in remote regions such as this (just try finding a town in central kalimantan on google earth), while this offers hope for great future discoveries, the mining and FDI laws in the country are still creating uncertainty for foreign mining companies
-tried searching for info on fullway limited (partner?) and sphere complex limited (owner of pt pmm?) but came up ziltch. can others elaborate on these companies?

hope this adds somewhat to the discussion.

ps. i dont hold, or intend to (my curiosity in ahk stems from my interest in the country)

good luck all