- Project acquired for total cash consideration of AUD 15 million financed through recently completed rights issue, the sale of 7% of the Romang Island project and through a $3m loan from Indonesian investment house P.T. Lintang Sapta Lestari (‘PT LSL’)
- Government and community relations the immediate focus at Andash:
Business restructure complete
Project development and CSR personnel deployed to the Kyrgyz Republic
- Romang Island Project remains a priority with eight drilling rigs now operating.
Robust Resources Limited (‘Robust’ or ‘the Company’) is pleased to confirm that it has completed the acquisition of the Andash Mining Company in the Kyrgyz Republic (‘Andash’) for a total consideration of AUD 15 million, as reported to shareholders on 1 May 2013. Financing of the transaction came from existing cash reserves and from additional new funding through the successful close of the rights issue ($4.41m); the sale of 7% of the Romang Island Project for $2m to P.T. Kilau Sumber Perkasa (‘PT KSP’); and through a $3m loan from Indonesian investment house PT LSL.
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