John Carlile: Certainly, Arc is a junior exploration company listed on the Australian Stock Exchange. There are three key points to our strategy. The first is Indonesia, the second is gold and the third is exploration.
John Carlile: Indonesia is a vast country, it has vast potential for mineral resources and the third aspect is, it is rather under explored due to the difficult nature of its terrain.
John Carlile: At the moment our share price is in the order of 4 to 5 cents. For most of last year it traded around 2 cents and towards the end of the year, once we started to get encouraging results, the price has been moving upwards towards the 5 cent mark.
John Carlile: Certainly can. Trenggalek is located in East Java about 250 kilometres to the west of Intrepid’s Project which is in the news a lot nowadays. Our area covers 300 square kilometres which is a substantial area; we own 95% of the Project so we’re well and truly in the driving seat. The area is particularly prospective for high grade epithermal gold veins and last year we drilled 5000 metres of scout drilling into that area and have confirmed that potential.
John Carlile: Certainly, Bima is also a large area it covers 250 square kilometres - the target types there are completely different. Whereas in Trenggalek we’re looking for high grade gold deposits, in Bima we’re looking for large bulk minable gold and gold copper deposits. As with Trenggalek we own 95% of the Project and manage it, so again we are well and truly in the driving seat. That is the area that at the moment is getting a fair amount of attention; we’re making some very good progress there and have been able to announce some very positive results recently.
John Carlile: The West Papuan Project is a project in alliance with Anglo American, so it’s slightly different from our other projects. We own 20% of the project; Anglo American owns the remaining 80%. They manage the project but importantly, very importantly for us as a junior, Anglo is responsible for funding 100% of the project through until the point when they make a decision to mine. If a company the size of Anglo makes a decision to mine, presumably they found something very large and at that point, we as ARC will own 20% of the project.
John Carlile: Well during the next 12 months, we’re going to be doing a lot and a lot of drilling at all of our projects.
ARX Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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