Successful Completion of Due Diligence on Persada Tenement
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:
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.
European Cobalt Ltd