20
AUSTRALIA Level 45 108 St Georges Terrace PERTH WA 6000 P: +61 8 9480 0111 F: +61 8 9480 0166 INDONESIA 17 F Tower 2 Indonesian Stock Exchange Building Jl. Jend. Sudirman Kav. 52 – 53 JAKARTA 12190 P: +62 21 5291 7491 F: +62 21 515 7799 [email protected] www.westernmining.net ABN: 63 144 079 667 ASX: WMN 44.7M Ordinary Shares 29.3M Listed Options 5.5M Unlisted Options BOARD OF DIRECTORS Christopher Clower Executive Chairman Paulus Irawan Executive Director Kent Hunter Non-Executive Director David Palumbo Company Secretary 16 May 2013 Successful Completion of Due Diligence on Persada Tenement The Board of Western Mining Network Limited (“WMN” or the Company”) is pleased to announce that the due diligence work on PT. Persada Bumi Rawas (“PT. PBR”) and its 100% interest in IUP Exploration No. 540/307.19/Distamben dated 12 August 2009 (“Persada Tenement”) has been completed. WMN has informed PT. PBR that it will proceed with the transaction under the Master Agreement announced to ASX on 15 April 2013. The Share Subscription Agreement to acquire 80% of the issued shares in PT. PBR which directly holds a 100% interest in the Persada Tenement is currently being finalised and will be executed in due course. An exploration report on the Persada Tenement is attached. The Company plans to focus on two blocks that have indicated potential gold anomalies. On behalf of the board of directors, Paul Irawan Executive Director For further information visit our website at www.westernmining.net or email [email protected]

ASX-WMN-635765

Embed Size (px)

DESCRIPTION

http://media.abnnewswire.net/media/en/docs/ASX-WMN-635765.pdf

Citation preview

AUSTRALIA

Level 45

108 St Georges Terrace

PERTH WA 6000

P: +61 8 9480 0111

F: +61 8 9480 0166

INDONESIA

17 F Tower 2

Indonesian Stock Exchange Building

Jl. Jend. Sudirman Kav.

52 – 53 JAKARTA 12190

P: +62 21 5291 7491

F: +62 21 515 7799

[email protected]

www.westernmining.net

ABN: 63 144 079 667

ASX: WMN

44.7M Ordinary Shares

29.3M Listed Options

5.5M Unlisted Options

BOARD OF DIRECTORS

Christopher Clower

Executive Chairman

Paulus Irawan

Executive Director

Kent Hunter

Non-Executive Director

David Palumbo

Company Secretary

16 May 2013

Successful Completion of Due Diligence on

Persada Tenement

The Board of Western Mining Network Limited (“WMN” or the

“Company”) is pleased to announce that the due diligence work on PT.

Persada Bumi Rawas (“PT. PBR”) and its 100% interest in IUP Exploration

No. 540/307.19/Distamben dated 12 August 2009 (“Persada

Tenement”) has been completed.

WMN has informed PT. PBR that it will proceed with the transaction

under the Master Agreement announced to ASX on 15 April 2013.

The Share Subscription Agreement to acquire 80% of the issued shares

in PT. PBR which directly holds a 100% interest in the Persada Tenement

is currently being finalised and will be executed in due course.

An exploration report on the Persada Tenement is attached. The

Company plans to focus on two blocks that have indicated potential gold

anomalies.

On behalf of the board of directors,

Paul Irawan

Executive Director

For further information visit our website at www.westernmining.net

or email [email protected]

Project Persada Exploration Report

May 2013

WESTERN MINING NETWORK LIMITED

Forward looking statements

This presentation may contain forward looking statements that are subject to risks, uncertainties and other factors

associated with exploration and mining that are in some case beyond the control of Western Mining Network Limited.

Readers can identify a forward looking statement by terminology such as “aim”, “anticipate”, “assume”, “believe”,

“continue”, “could”, “estimate”, “expect”, “forecast”, “intend”, “likely”, “may”, “plan”, “potential”, “predict”, “project”,

“risk”, “should”, “will” or “would” and other similar expressions. It is believed that the expectations reflected in these

statements are reasonable but they maybe affected by variables and changes in underlying assumptions which could

cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand,

currency movements, drilling and production results, reserve estimations, loss of market, industry competition,

environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market

conditions in various countries and regions, political risks, tenement renewals, project delay or advancement,

approvals and cost estimates. Readers are cautioned not to place undue reliance on forward looking statements

All persons should seek appropriate financial professional financial advise in reviewing or considering the document

and all other information with respect to Western Mining Network Limited and evaluating the business, financial

performance and operations of Western Mining Network Limited. Neither the provision of the document nor any

information contained in the document or subsequently communicated to any person in connections with the

document is, or should be taken as, constituting the giving of investment or financial product advise to any person in

respect of dealing in Western Mining Network Limited securities, and no such information should be taken to

constitute a recommendation or statement of opinion that is intended to influence a person in making a decision to

deal in Western Mining Network Limited securities. This document does not purport to contain all of the information

that maybe required to evaluate all of the factors that would be relevant in determining whether to deal in Western

Mining Network Limited securities, including but not limited to any person’s objectives, financial situation or needs.

Each person should make, and will be taken to have made, its own investigation, assessment and analysis of the

information in this document and other matters that maybe relevant to it in considering whether to deal in Western

Mining Network securities

Disclaimer

2

Table of Contents

1. Project Persada - Location

4. Project Legality

5. Contact

3. Infrastructure and Logistics

2. Geological Survey and Exploration Data

3

1. Project Persada - Location

5

1. Project Persada - Location

Map of Indonesia

� The Persada Tenement is located

northeast of Palu in Central Sulawesi,

between Toli-toli and Buol. It is

approximately 50 km east of Toli-toli

and covers 5,000 hectares. There is an

existing access road to the tenement

via Lakea village road, west of Buol –

Toli-toli highway.

� The area is generally covered by

secondary forest, clove and cocoa

plantation, indicating that the tenement

does not require a forest permit for

exploration and production.

� The area is covered by Tinombo

formation (Tts), Marine sediment (Tms)

and Alluvial (Qal) respectively.

Location of Tenement in Central Sulawesi

2. Geological Survey and Exploration Data

2. Geological Survey and Exploration DataGeological Map and Formation

7

Geological Map

2. Geological Survey and Exploration DataExploration Map and Program

8

Exploration Program DetailExploration Map

Stream-Sediment Sampling Methodology

� The stream-sediment sample material is

screened to -80 mesh.

� The samples are then analyzed using

ICP-OES (Code: IC01), Hg - Cold vapor

AAS plus Au FA 51 methods.

Method of Analysis

� Analyzed by ICP, CV and FA methods.

� Both stream sediment and rock samples

were analyzed using Fire Assay (Method

code: FA 51) for Au (Gold) with detection

limit at 0.01 ppm. Cold vapor AAS

(Method code: CV02) was used for Hg

(Mercury) determination.

� ICP-OES method (Code: IC01)

determination distilled water digest was

used to analyze: Ag (Silver), As (Arsenic),

Bi (Bismuth), Cu (Copper), Mo

(Molybdenum/Silver White), Pb (Lead),

Sb (Antimony), Se (Selenium), Te

(Tellurium), Zn (Zinc).

2. Geological Survey and Exploration DataList of Outcrops

9

2. Geological Survey and Exploration DataOutcrop Pictures

10

2. Geological Survey and Exploration DataSample Result Analysis and Resources Detail

11

2. Geological Survey and Exploration DataSample Result Analysis and Resources Detail (cont’d)

12

2. Geological Survey and Exploration DataSample Result Analysis and Resources Detail (cont’d)

13

3. Infrastructure and Logistics

3. Infrastructure and LogisticsShipping Advantage to Key Customers

15

� Nearest jetty area is Port Leok, approximately 40 km from the Mining pit area.

� The Open Sea Anchorage Point is about 2 hours barging from Port Leok.

� Ease of distribution from Sulawesi to India, China, Japan and Korean customers

Fast & Low Shipping to Customers

4. Project Legality

17

4. Project LegalityCNC Listed

CNC List

5. Contact

5. Contact

Jakarta Office:

17F Tower 2

Indonesian Stock Exchange Building

Jl. Jend. Sudirman Kav. 53 - 53

Jakarta 12190

Tel: +62 21 5291 7491

Fax : +62 21 515 7799

Australian Office:

Level 45 108 St Georges

Terrace.

Perth WA 6000

Tel: +61 8 9480 0111

Fax : +61 8 9480 0166

Email:

[email protected]

Competent Person StatementThe information in this presentation which relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Allen

Maynard, who is a Member both of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and the Australian Institute of Geoscientists (“AIG”) and independent consultant to

the Company.

Mr Maynard is a consultant of Al Maynard & Associates Pty Ltd and has 35 years of experience in exploration and mining in a variety of mineral deposit styles. Mr Maynard has

sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person

as defined in the 2004 Edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Mr Maynard consents to inclusion in the report of the matters based on his information in the form and context in which it appears.

Contact Information

19