PTKCL is an experienced Indonesian investment holding company with an investment in a gold mining company that has been operating in
Kingsrose Managing Director
Process Deed The Process Deed provides for: good faith negotiation of transaction documents to implement the potential transaction; a focussed due diligence programme to be undertaken by PTKCL; a drilling programme, prepared in collaboration with and funded by PTKCL, involving four drill holes into the 'Maul Vein' area, for a total of 436.1 metres (Drilling Programme), which has been completed with the assay results still outstanding; a deposit of any agreed purchase of
In the event, the Company breaches the Process Deed, the Company must repay the Deposit, all drilling and other costs incurred by PTKCL in connection with the Drilling Programme and reimburse PTKCL's external costs up to a maximum of
The Company will keep the market informed of any material developments in accordance with its continuous disclosure obligations and shareholders are reminded that there is no certainty that final terms will be agreed with PTKCL nor that any transaction will take place.
Contact:
Tel: +61 8 9389 4494
Email: info@kingsrosemining.com
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Forward-looking statements
This announcement includes forward-looking statements, including forward looking statements relating to the future operation of the Company. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement to reflect the circumstances or events after the date of this announcement.
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