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  1. #1
    Administrator Joe Blow's Avatar
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    May 2004
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    Post FND - Finders Resources

    Finders Resources Limited (FND) is a copper producer targeting 20,000-25,000 tpa copper production from its Wetar Copper Project (FND 94%) in Indonesia, and also controls an advanced gold-silver project at Ojolali (FND 71.7%) in Indonesia.


  2. #2
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: FND - Finders Resources

    MC - $51m
    SP - 16.5c
    Shares - 315m
    Options - 73m (unquoted)
    Cash - $2.2m (+ $14m loan facility)

    FND doesn't interest me greatly, so will just provide the basics from their latest announcement.

    Background Information on Finders
    Finders is the operator of the Wetar Copper Project (95% Interest), and the Ojolali Gold‐Silver Project (72% with option), both located in Indonesia. The Wetar Copper Project comprisestwo high grade deposits, Kali Kuning and Lerokis, which are located within 3kmfromthe coast and suitable for open pit mining. The project benefits from having existing infrastructure in place, particularly a wharf, camp and roads and partially pre‐stripped copper ore bodies from a prior gold mining era.
    From February 2009 to December 2010, Finders successfully operated a 5 tonne per day Solvent Extraction/Electro Winning (SX/EW) demonstration plant to test copper sulphide leach kinetics, optimise process design and provide data required for project finance. The demonstration plant produced and sold about 2,500 tonnes of LME Grade A copper cathode, all of which was sold at a premium to the LME price and withoutspecification issues. The test heaps are at heightssimilar to commercial operations worldwide and the SX/EW technology being used isindustry standard. SX/EW technology is currently responsible for approximately 22% of the worlds copper production. The development of the Wetar Copper Project comprises the brownfields expansion of the existing demonstration plant to 7,000tpa capacity, followed by incorporation of the Whim Creek plant to lift production to 25,000tpa.

    Wetar Copper Project
    Finders advise thatthe Maluku Provincial Forestry Department has completed itsfinal boundary and inventory surveys on WetarIsland and has now departed site to complete reporting.
    The remaining work and documentation to satisfy the conditions of the In‐principal licence (Izin Prinsip) are now expected to be complete by the end of April, at which point the central Forestry
    Departmentin Jakarta shall commence processing the Borrow and Use permit (PinjamPakai).

    Ojolali Project
    Following the successful completion of leach recovery testing, Finders has approval to move its second project,Ojolali, into the feasibility stage.
    The Indonesian operating company, PT Batutua Way Kanan Mineralsreceived a decision letter (B35b DPE-WK/ HK / 20 13) from the Regent of Way Kanan, in which approval was granted to commence the Feasibility Stage of the IUP Exploration Period. The extension of the IUP isinitially for one year, but this can be extended for a further year to complete studies if required. The Company is currently preparing plans to commission a feasibility study which will initially focus on start‐up operations atthe JambiOxide gold deposit.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill


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