Finders receives forestry lease permit for exploration works

By Harry Roy Gunawan

ASX-listed firm Finders Resources Limited announced that it has received a number of additional permits in relation to the Wetar Copper Project, including forestry lease permit locally known as 'pinjam pakai' that would allow the company to conduct further exploration works at Kali Kuning and Meron sites.

The company also received final building permits from local government for the main Wetar plant and the neutralization plant.

In its statement to the ASX, the company said that officials from Forestry Ministry are currently completing surveys on site with view to accelerating the issue of the forestry permit for production stage. Finders is targeting the issuance of the in-principal permit in Q4 2012.

Finders? Managing Director, Chris Farmer said ?These permits continue to demonstrate our ability to work with all levels of government to achieve approvals for permits held by our operating companies for the Wetar Copper Project. The Kali Kuning?s 'pinjam pakai' permit in particular demonstrates sustained progress in the Forestry Ministry, assisted by the project being awarded priority status. It also firmly establishes the production 'pinjam pakai' permit as a viable alternative route towards the commencement of construction in the event of further delays in the approval of the spatial plan.?

Editing by Adianto P. Simamora