Ann: Nusantara Delivers Maiden 1.0 Moz Gold Ore Reserve, page-11

Hi Baro,

Do you know the history of the project, who the previous owners were and why 732 diamond drill holes and 158 RC holes (apparently good enough for a JORC2012 compliant gold reserve) ended up in the hands of NUS.

Just reading some of the stuff you posted I get a red flag warning at the suggestion that local partners might become involved.

Number of shares on issue look attractive but the NPV seems small for a project of this scale plus some pretty high CapEx numbers.

I haven't really looked at it properly but my view is I like Indonesia for cheap 5 star holidays, not as an investment option.

On my watch list for now. Esh