Aurora to review sales plan<\/p>\n
CANBERRA (Dow Jones): Australia-based Aurora Gold Ltd. will
\nreview its options for divesting its Toka Tindung gold mine in
\nNorth Sulawesi, Indonesia, following a decision by Austindo
\nResources Corp. against taking over the operation.<\/p>\n
Aurora put the mine on care and maintenance in September 1999
\nwhen, in a major period of unrest in Indonesia, Toka Tindung's
\nsatellite Talawaan operation was overrun by thousands of illegal
\nminers.<\/p>\n
Aurora announced May 21 that Austindo signed a preliminary
\nagreement to buy the mine.<\/p>\n
But late Thursday the companies said Austindo has withdrawn
\nfrom that agreement.<\/p>\n
Andrew Cooke, Austindo's company secretary, said it withdrew
\nbecause of the ongoing problems associated with illegal miners on
\nthe site.<\/p>\n
\"We felt they (illegals) presented a problem that even our
\nexpertise and presence there mightn't be able to deal with on a
\nrealistic basis,\" he told Dow Jones Newswires.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/aurora-to-review-sales-plan-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}