{
    "success": true,
    "data": {
        "id": 1052792,
        "msgid": "golden-valley-statement-near-on-busang-1447893297",
        "date": "1996-10-18 00:00:00",
        "title": "Golden Valley statement near on Busang",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "Golden Valley statement near on Busang SYDNEY (Reuter): Australia's Golden Valley Mines NL is expected to break its public silence on the ownership dispute over the big Busang Indonesian gold discovery majority owned by Canada's Bre-X Minerals Ltd, a company official said yesterday. Golden Valley managing director Warren Beckwith was last night flying from a round of talks in Indonesia to Australia.",
        "content": "<p>Golden Valley statement near on Busang<\/p>\n<p>SYDNEY (Reuter): Australia's Golden Valley Mines NL is<br>\nexpected to break its public silence on the ownership dispute<br>\nover the big Busang Indonesian gold discovery majority owned by<br>\nCanada's Bre-X Minerals Ltd, a company official said yesterday.<\/p>\n<p>Golden Valley managing director Warren Beckwith was last night<br>\nflying from a round of talks in Indonesia to Australia.<\/p>\n<p>An official of the Perth-based company said a press statement<br>\nwas in preparation and expected to be released on Beckwith's<br>\nreturn.<\/p>\n<p>This would be the first statement by Golden Valley since a<br>\nweek ago when it publicized details of a technical assistance<br>\nagreement with Indonesian businessman Jusuf Merukh's PT Krueng<br>\nGasui for the Busang deposit, in Kalimantan.<\/p>\n<p>While Bre-X shares fell sharply on the Toronto Stock Exchange<br>\non Wednesday, Golden Valley shares rose by 0.6 cents to 5.3 cents<br>\non solid turnover on the Australian Stock Exchange on Thursday.<br>\nThis put the shares well ahead of their year's low of 2.0 cents<br>\nand nudging the year's high of 5.9 cents.<\/p>\n<p>Bre-X on Tuesday described statements that Golden Valley was<br>\nentitled to part of the big Busang gold discovery as \"false and<br>\nmisleading\".<\/p>\n<p>Bre-X said it has asked the Australian Stock Exchange to ask<br>\nGolden Valley to back up its claims.<\/p>\n<p>According to Merukh, his interests own 40 percent of Busang.<\/p>\n<p>This arises through a 20 percent stake in section one of the<br>\nBusang property, which is divided into three sections, and an<br>\noption to buy a further 20 percent.<\/p>\n<p>Golden Valley said in its statement a week ago that it had a<br>\ntechnical assistance and finance agreement with the Indonesian<br>\ncompany, which had a call option over a further 20 percent in<br>\nshares of the Bre-X subsidiary that controls the Busang deposit.<\/p>\n<p>According to Merukh, Golden Valley will receive a royalty, not<br>\na share in the property, from the technical assistance agreement.<br>\nThe royalty arrangement was under discussion, he said on<br>\nWednesday.<\/p>\n<p>Meanwhile, the Indonesian government has delayed issuing a<br>\ncontract of work for Bre-X to continue its work on the property<br>\nuntil the dispute is resolved.<\/p>\n<p>Bre-X has estimated gold reserves in the deposit total at<br>\nleast 47 million ounces.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/golden-valley-statement-near-on-busang-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}