Completes Due Diligence on Paser Project
Perth, June 19, 2012 AEST (ABN Newswire) - Padang Resources Limited (
ASX:PXR) is pleased to announce that it has completed due diligence on the Paser Project, East Kalimantan and will now proceed with its resource definition program.
The Company is committing to the Paser Project and it has decided not to proceed with the West Papua Project or the West Sumatra (also referred to as the Lumpo Project) Project.
The Company is preparing a Notice of Meeting to be put to shareholders for approval of the acquisition of 70% interest in Paser.
Next steps
Padang will keep shareholders informed of any material developments regarding the exploration program on the Paser Project.
Contact
Padang Resources Limited
T: +61-8-9429-2908
WWW: www.padangresources.com.au
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