SYDNEY (Yosefardi) – Sumatra Copper & Gold Plc is now working on stability study for its flagship 100%-owned Tembang Gold-Silver Project in southern Sumatra, Indonesia, after completing its updated Ore Reserve for key deposits.
It is now finalising its updated feasibility study for Tembang, to be released in early this month.
The company has appointed an independent technical advisor to review the company’s updated feasibility study, expected to be completed in mid-April 2014.
This will provide the basis for final credit committee approval to be sought for debt funding for Tembang. The company is in advanced negotiations to secure debt funding of up to US$30 million and anticipates obtaining credit approval and recommencing construction in Quarter 2, 2014.