gold gold gold

Hi all,

I had in my mind relegated to a sideshow status the China gold thing for APG.

However.......the following information relates to Archipeligo

"The Company is currently continuing to work with the Indonesian Government authorities at the highest levels to resolve the issue of the AMDAL approval in an amicable manner and remains confident regarding the Government’s intention to honour its Contract of Work obligations and find a solution in the very near future to effect AMDAL approval and allow the development of the Project to continue.

While the Company has recently put in place a comprehensive package of Project, ancillary and contingency finance sufficient to fully fund Project development with no less than 5 banks all of whom are very supportive of the Company and its Project; in the absence of AMDAL approval the Company cannot avail itself of these facilities. Currently the Company can only access the previously announced interim 6 month bridging finance facility provided by RMB Resources. That facility is now drawn and consistent with the Company’s financial planning to date it is therefore beholden upon the Company to seek a longer term financial solution in consideration of a worse case scenario in which AMDAL approval is further delayed".

The Indonesian Govt has become very nationalistic of late and giving a lot of grief to resource miners.
Probably means the brown envelope has to double in size.

From my previous reading of releases at the London AIM re Archipeligo it seems that APG is the instigator of the deal and AR provides the money and scalps APG.(but APG was in a completely different position then)

It would not be beyond the bounds of possibility that this AMDAL complication allows APG and AR to mutually annul their deal and APG finds a new partner for China.
(hopefully on better terms)

I hate to say it Earnie but there could be legs to this gold thing yet.

I await news with interest.