re: Ann: Anglo American Farms-In to Trenggale...
Bluebottle.
This joint venture represents a major step forward for ARX at Trenggalek. It sees project activities increased and fully funded by Anglo American under a standard industry farm-in arrangement. While ARX holds a healthy cash balance, it is clearly in our shareholders’ interests to have a company like Anglo American finance the next stage of this exciting project. The exploration program planned within the next 12 months comprises ground geophysics and additional prospecting on specific prioritised targets and then drilling which will be the main focus of activities. The joint ARX-Anglo American team has already started work and I am anticipating that we will be able to report meaningful progress and results over the coming months”.
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ARX Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
