Austindo stake jumps to 95% as it looks for partners for Cibaliung

AUSTINDO has increased its stakeholding of the Cibaliung Gold Project, Indonesia, from 89.75% to 95% with help from an extra $US5 million (K13.45 million) of funding from ANZ, while shareholders have supported a new company direction.

Austindo stake jumps to 95% as it looks for partners for Cibaliung Austindo stake jumps to 95% as it looks for partners for Cibaliung Austindo stake jumps to 95% as it looks for partners for Cibaliung Austindo stake jumps to 95% as it looks for partners for Cibaliung Austindo stake jumps to 95% as it looks for partners for Cibaliung

Following the recent annual general meeting, shareholders have approved the company's name change to Arc Exploration, effective June 28, and a 50 to 1 consolidation of capital that will reduce the 7.

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