SYDNEY (Yosefardi) – Robust Resources Limited, a company affiliated with Salim Group, plans to offer 82.26 million new shares, or rights issue, seeking to raise $25.5 million in total.
The offer is underwritten by Eventus Advisors. The proceeds of rights issue will be used to part fund the purchase of the Talas Gold-Copper project in Kyrgyz Republic, further exploration and development on the company’s tenements and for related purposes.
Robust holds a 70.5% managing interest in the Romang island polymetallic and manganese projects in Indonesia.
The Romang island indicated mineral resource totals 750,000 ounces gold equivalent and 737 million pounds of base metals and the inferred mineral resources totals 364,000 ounces gold equivalent and 733 pounds of base metals.
Robust drilled 31 holes for 4,699 metres in the quarter ended December 2013. While drilling at Batu Mas deeps discovers high-grade massive sulphides grading 54.9% and 37.85% combined base metals respectively.
Robust also reported bonanza silver grades intersected at Batu Perak basin. High-grade silver and gold mineralisation enhances Lakuwahi caldera rim potential.