Successful Completion of Due Diligence on Persada Tenement
Successful Completion of Due Diligence on Persada Tenement
Perth, May 16, 2013 AEST (ABN Newswire) - The Board of Western Mining Network Limited (ASX:WMN) is pleased to announce that the due diligence work on PT. Persada Bumi Rawas ("PT. PBR") and its 100% interest in IUP Exploration No. 540/307.19/Distamben dated 12 August 2009 ("Persada Tenement") has been completed.

WMN has informed PT. PBR that it will proceed with the transaction under the Master Agreement announced to ASX on 15 April 2013.

The Share Subscription Agreement to acquire 80% of the issued shares in PT. PBR which directly holds a 100% interest in the Persada Tenement is currently being finalised and will be executed in due course.

An exploration report on the Persada Tenement is attached. The Company plans to focus on two blocks that have indicated potential gold anomalies.

To view the Persada Project Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WMN-635765.pdf


About European Cobalt Ltd

European Cobalt Limited (ASX:EUC), formerly Western Mining Network Limited, is engaged in the acquisition and exploration, and evaluation of resource-based projects within Indonesia. The Company operates through two segments: mineral exploration and treasury.

   


Contact

Western Mining Limited
T: +61-8-9421-7777
WWW: www.westernmining.net



Related Companies

European Cobalt Ltd    

ABN Newswire This Page Viewed:  (Last 7 Days: 6) (Last 30 Days: 28) (Since Published: 5470)