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Finders, listed on AIM and ASX, is the operator of the Wetar Copper (~73% and earning), and Ojolali Gold-Silver Projects (72% with option) in Indonesia, and holds an investment in Geopacific Resources NL, an ASX listed company with active exploration programs for gold and copper in Fiji.
At the Wetar Copper Project, Finders has previously announced Measured, Indicated and Inferred Resources at a 0.5% copper cut-off grade, of 9.8 million tonnes at 2.5% copper for 248,000 tonnes contained copper in two deposits, Kali Kuning and Lerokis. The company is planning to develop an open cut heap leach SX-EW copper mining operation to produce 20-25,000 tonnes of cathode copper per year from mid 2009. A key component of the feasibility study for this project is the construction of a semi-commercial scale test heap and pilot plant, designed to produce 5 tonnes per day of copper cathode from July 2008, with an estimated capital cost of US$6.25 million.
At the Ojolali Project, Finders has previously announced Inferred Resources at the Jambi Oxide gold deposit (3.2 Mt @ 1.0 g/t Au, 6.9 g/t Ag at a 0.5 g/t Au cut-off, and including mining dilution) and Inferred Resources at the Tambang Prospect (7.9 Mt @ 167g/t Ag and 0.7 g/t Au at a 1 g/t Au equivalent cut-off using drilling data from a previous explorer).
Finders’ believes that the Ojolali project has strong potential to generate short-term cash flow through open pit CIL/CIP development of the gold resource at the Jambi Oxide gold deposit. Other prospects have outstanding potential for the discovery of additional resources using modern geophysical techniques to optimize drill targeting.
For further information on results previously reported and a full resource statement please visit our website www.findersresources.com
Wetar Copper Project (72.4% and earning)
Indonesia, Fiji
| Dr. Russell Fountain | Executive Chairman |
| Dr. Chris Farmer | Managing Director |
| Mr. Grant Harding | Operations Manager |
| Mr. Ian Neuss | Alternate Director |
| Mr. Stephen de Belle | Non-executive Director |
| Mr. Stephen Lonergan | Non-executive Director |
| Mr Ian Morgan | Company Secretary |
Company AddressRegistered Office/Sydney Office
|
Additional Address/Key ContactJakarta Office |
CapitalFully Paid shares: 74,911,425 as at 5 March 2008
|
Year End30 June |
Nominated BrokersWesthouse Securities | Nominated AdvisorsRFC Corporate Finance Ltd |
30/01/08 - HansonWest House
07/01/08 - Hoodless Brennan
13/12/07 - Green Leader Equity Research
13/12/06 - Finders Resources - Hanson Westhouse
| Top 20 Shareholders (Updated 5 March 2008) | |
| SHAREHOLDER | % |
| ANZ NOMINEES LIMITED | 9.11% |
| EXSOLUTIONS PTY LIMITED | 7.81% |
| MR IAN DVAID NEUSS | 7.66% |
| DR CHRISTOPHER BEN FARMER | 7.18% |
| HSBC GLOBAL CUSTODY NOMINEE (UK) LIMITED <813259> | 5.94% |
| MIT NOMINEES PTY LIMITED | 4.14% |
| HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED | 3.82% |
| DARLEY PTY LIMITED | 3.74% |
| TENNANT METALS PTY LIMITED | 3.12% |
| MR STEPHEN DE BELLE | 2.42% |
| NATIONAL NOMINEES LIMITED GPO BOX 1406 MELBOURNE VIC | 2.27% |
| LOMACOTT PTY LTD | 1.63% |
| PERPETUAL TRUSTEE COMPANY | 1.62% |
| MERRIL LYNCH (AUSTRALIA) NOMINEES LIMITED | 1.33% |
| MR STEPHEN JACK FOUNTAIN | 1.20% |
| FORTIS CLEARING NOMINEES P/L | 1.17% |
| CLODENE PTY LTD | 1.00% |
| BARCLAYSHARE NOMINEES LIMITED | 0.94% |
| MR HENRY WIECHECKI | 0.93% |
| HIGHSHAW PTY LTD | 0.83% |