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Cibaliung Gold Project in Indonesia.


Bankable Feasibility Study to be completed in first half of 2004.




554,500 oz Gold and 4.62 Moz Silver.

Annual production of 70,000 ounces gold equivalent.

Cash operating costs of less than US$200 per ounce.

Mine life of 6 years, at present.


PT Anbeka Tambang (Indonesian GovernmentÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Mining company) are in the final stages of one of its operations. This could provide ARX with the opportunity to draw from a pool of experienced staff when the time comes for the mine development.


The Cibaliung project is highly grade sensitive with a 10% increase in recovered grade potentially adding nearly 50% to the project NPV.


ARX is part of the Lion Selection GroupsÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ stable (13.4%).


ARX has strong alliances with powerful Indonesian stakeholders.

ARX owns 80.38% of the project.

ARXÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s JV partner is the Indonesian GovernmentÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Mining Company PT Aneka Tambang.

The majority shareholder in ARX (42.7%) is PT Austindo Nusantara Jaya (ANJ) controlled by the well regarded Tahija family. They are one of the most respected families in Indonesia, renowned for their business ethics and a commitment to sustainable development. They are a powerful and well connected family and have investments in palm oil plantations, financial services, oil and gas, and gold.

The Diemars (ex-Kinsgate) have 5.6%.


As noted by Austock, these strong alliances could lead to ARX acquiring and developing further Indonesian operations.


ARX is reported by Austock to have a good board and management.


Mt Alexander Goldfields


Exploration of Mt Alexander goldfields will continue.




ARX have a partnership with the Indonesian Government and the support of the powerful Tahija family. The ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¹Ãƒƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“smart moneyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢ is already invested.



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  • 1 year later...
  • 2 months later...

In reply to: Sam43 on Thursday 07/04/05 10:57pm

This company got a bit of a write after ANZ Investments threw some money at it as well as raising $18 plus from a share placement to develop gold production in Indonesia (70,000 ounces) by 2006. Might be worth keeping an eye on as 4.6 c is mighty cheap if it is to become a gold producer. Other companies have sp's at this level on just a sniff of gold !!




OZGAZ http://www.sharescene.com/html/emoticons/biggrin.gif

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  • 5 months later...



Looking promising


looks to have cleared last resistance at .053 now trading at .058


big buyer in the deth ATM at .057 for 1.7 mill


yesterdays volume of 900k about double daily average


over 2 mill already today


next resistance around .063 cents


i am in,we will see



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hi taupui


bit more action by the look of it http://www.sharescene.com/html/emoticons/blink.gif


closed at .06 cents yesterday on volume of 2.7 mill


ATM an open of .062 looks likely with 1 mill going through


support building with another million wanted at .058


lets see



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