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 to raise up to A$5 million
London and Sydney listed copper and gold development company, Finders Resources, said today that it would raise up to A$5 million by placing approximately 8.3 million shares with RFC Corporate Finance and FinnCap. The shares will be placed at A$0.60 per share, or £0.28 pence per share.
Encouragingly, the directors of Finders Resources and some of their associates had agreed to invest A$0.6 million.
The company said it would use the funds raised for continuing the development of the Wetar Copper Project Feasibility Study, and to define “higher grade start up resources” at the Ojolali Gold-Silver Project. Both of Finders Resources projects are located in Indonesia, and both are at an advanced stage.
Chris Farmer, Managing Director commented:
“We are very pleased to have secured this funding in what is a very challenging capital raising environment. This additional funding will enable us to aggressively pursue our exciting development targets for both the Wetar Copper project and the Ojolali gold-silver project.”
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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07/01/09 Finders Resources Names Robert Thomson Executive Director
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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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11/07/08 Finders Resources expects Wetar Copper Project start-up in September
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02/06/08 Finders Resources increases Jambi resource by 33%
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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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