Indochine Lists on Port Moresby Stock Exchange (POMSoX)
The POMSoX listing demonstrates the Company's confidence in PNG's mining sector and the local investment community as well as the support provided by local communities and the Government of PNG. The Company looks forward to expanding its shareholder base and welcomes participation in its securities by the landowner groups, institutional funds and the general public in PNG.
Indochine Mining Limited, through its wholly owned PNG subsidiary, Summit Development Limited, has recently transformed its flagship gold project at Mt Kare in Enga Province, by rapidly increasing and developing high grade gold zones by planned underground development. The company is targeting high grade, high margin gold production of 175-200,000 oz/yr in 2015. Indochine's key strengths have been to use a 'Melanesian approach' to achieve community support that has engendered government support, and to partner with mining experts, together with the backing of some of the world's largest funds.
The local share registry for shares traded on POMSoX will be managed by PNG Registries Limited.
About Indochine Mining Limited
Indochine Mining Limited (ASX:IDC) is a gold-copper exploration and development company. In Cambodia, it has the largest mining property holding in a country that has had very limited modern exploration, and is within a region known for world-class gold and copper deposits.
In Papua New Guinea (PNG), also known for large gold and copper deposits, Indochine holds an option over a major gold resource at Mt Kare. In Laos, potential exploration areas are being evaluated.
Indochine Mining Limited