Asiamet Resources Limited (LSE:ARS) has confirmed that all conditions precedent relating to the proposed sale of Indokal Limited, which holds a 100% interest in the KSK Project in Indonesia, to Norin Mining (Hong Kong) Limited have been satisfied or waived.
The AIM-listed mining and exploration company said the parties are now proceeding with the remaining steps required to complete the transaction.
Asiamet expects completion of the sale to take place shortly. The company did not provide a specific completion date in the supplied announcement.
Indokal is currently a wholly owned subsidiary of Asiamet and holds the company’s 100% interest in the KSK Project. Completion of the transaction will therefore result in the disposal of the project to Norin Mining.
The latest announcement confirms that the regulatory and contractual conditions required ahead of completion have been addressed. Further details are expected following completion of the transaction.
More about Asiamet Resources
Asiamet Resources Limited is an AIM-listed mining and exploration company focused on copper and other base metal assets in Indonesia.
Its portfolio has included the KSK Project, which is held through wholly owned subsidiary Indokal Limited. The company’s activities include developing mineral projects and undertaking transactions involving its asset portfolio.
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