Robust Resources Limited
(ASX:ROL) (‘Robust’ or ‘the Company’) today announced that it has invested $694,144 in Reliance Resources Limited for the issue of 4,627,627 New Ordinary Reliance
shares. The placement was made at 15 cents per share and represents a 4% undiluted interest in Reliance. The purchase is subject to TSX approval.
Reliance Resources is listed on the Toronto Stock Exchange (TSX: RI) and it is an Indonesian focused exploration company with projects on the Islands of Sulawesi and Halmahera covering
68,000 hectares.
Reliance’s flagship project, the Tanoyan Gold Project on Sulawesi, Indonesia, has a NI 43-101 Inferred Mineral Resource of 208,000 ounces of gold (4.58mt at 1.41 g/t Au) as at March 2012. Further information on Reliance Resources Limited is available at www.relianceresources.com While Robust’s main priority is to advance its Romang Island Project, the company continues to assess acquisition and equity investment opportunities that strengthen the company’s portfolio and exposure to the South East Asian resources market. The Board is confident that an investment in Reliance represents one such opportunity.
