Home Contact

Investments

PT Ancora Indonesia Resources Tbk

Investment in PT Ancora Indonesia Resources Tbk

On December 12, 2017, Southern Arc announced the completion of the sale of the Company's West Lombok Property to PT Ancora Indonesia Resources, Tbk , in consideration for a US$2 million cash payment and the granting of a 3% NSR. (PT Ancora has the right to buy back the NSR from Southern Arc at any time by paying an additional US$2 million.) 

Southern Arc has used the cash proceeds from the sale to acquire 100 million shares of PT Ancora (5.66% of PT Ancora’s issued and outstanding).

The West Lombok property covers a 13 kilometre long by 7 kilometre wide northwest trending structural corridor of mineralization and alteration hosting three main prospects: the Pelangan epithermal gold prospect, the Mencanggah epithermal/porphyry district, and the Selodong porphyry intrusive complex. The 5.66% interest in PT Ancora and the 3% NSR allow Southern Arc and its shareholders to maintain their exposure to the Property’s upside potential

Please see news release dated December 12, 2017 for details. 



TSX-V: SA Quote: $ Change:
Volume:

Latest News Releases

July 3, 2018
Southern Arc Announces Additional Investment in Tethyan Resources plc read more
April 19, 2018
Southern Arc Completes $2 Million Investment in Rise Gold Corp. read more
September 5, 2017
Southern Arc Sells West Lombok Property read more

  • Address
  • HEAD OFFICE
  • Southern Arc Minerals Inc.
    Suite 650
    669 Howe St
    Vancouver, BC   Canada V6C 0B4
    Telephone: +1-778-725-1490
    Fax: +1-604-428-1124
  • INDONESIAN OFFICE
  • Graha Sentana Building, 4th Floor
    Jalan Buncit Raya No. 2
    Jakarta Selatan,12760   Indonesia
    Telephone: +62-21-7918-8612
    Fax: +62-21-7918-8613