Finders Resources
Finders Resources is an emerging copper producer through its Wetar copper project in eastern Indonesia (73% and earning), and has additional growth potential through its Ojolali gold-silver project in South Sumatra (72% with option). 2008 will see the first copper production at Wetar from a 5tpd cathode demonstration plant and a definitive feasibility study targeting copper cathode production of 20-25,000 tones per year. Finders has budgeted for up to 10,000m of drilling to expand on the gold and silver inferred resources (1 million Oz eq.) at the Ojolali Project. Finders has a highly accomplished management team, extensive Indonesian operating experience, and a strong focus on growth through development of quality mining projects.
Finders Resources increases Jambi resource by 33%
Finders Resources (AIM & ASX: FND) reported a 33% increase in the resource estimate at its Jambi gold deposit which lies within the Ojolali Project in Indonesia.
The upgrade was based on additional date from 93 shallow reverse circulation ('RC') holes completed over the project. To total resource at Jambi now stands at 138,000 ounces using a cut of 0.5 grams per tonne gold. 75% of the resource lies in the indicated category under JORC guidelines.
Finders now plants to complete a detailed scoping study with into the development of a small scale gold mining operations. Due to the nature of the gold (oxidised, near surface), there is the possibility of moving the deposit into production even on such a small resource.
"We are very pleased with this result, and this resource provides a firm basis to implement our strategy of developing a small but profitable open pit mining operation to generate cash flow to fund a vigorous ongoing exploration program of the project area. Our ongoing surface exploration in the larger Ojolali exploration licence area continues to enhance its potential for significant additional discoveries." commented Russell Fountain, Chairman of Finders Resources.
Other Finders Resources articles
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22/12/08 Finders Resources anticipates first copper production in January
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23/05/08 Copper: Long term fundamental demand
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22/02/08 Finders Resources: all eyes on Wetar Pilot Plant
Other Finders Resources news
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15/10/08 Finders Resources directors pick up more shares
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01/10/08 Finders Resources secures seasoned mining veteran as General Manager
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04/09/08 Finders Resources to raise up to A$5 million
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11/07/08 Finders Resources expects Wetar Copper Project start-up in September
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07/04/08 Finders Resources says Jambi could host more gold
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11/03/08 Jambi may offer Finders Resources short term cash flow
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05/03/08 Finders Resources Chairman ups stake
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04/03/08 Finders Resources executive chairman ups stake
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25/02/08 Finders Resources gets good numbers from Ojolali
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21/01/08 Finders Resources still on track
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