Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Archipelago Resource (AR.)

  Print      Mail a friend

Monday 27 March, 2006

Archipelago Resource

Toka Bank Finance Approved

Archipelago Resources PLC
27 March 2006

Archipelago Resources plc

23 March 2006

                             BANK FINANCE APPROVED
                                    for the
                           TOKA TINDUNG GOLD PROJECT

Archipelago Resources plc ('Archipelago'or 'the Company') is pleased to announce
that credit committee approval has been received from four banks that have
agreed to provide a syndicated loan facility for the development of the
Company's 85% owned Toka Tindung Gold Project in Sulawesi, Indonesia (the
'Project'). The syndication was arranged by N.M. Rothschild & Sons (Australia)
Limited ('Rothschild') following the granting to Rothschild of an exclusive
financing mandate to provide debt finance and hedging facilities for the
Project. The four banks are:-

a) Rothschild,
b) Australia and New Zealand Banking Group,
c) Societe Generale and
d) WestLB AG;

who together will provide a US$38.5m debt and US$4.0m cost overrun facility.

Extensive technical reviews and due diligence have been undertaken by the
lenders' engineer and other consultants, however a number of pre-conditions
remain to be satisfied prior to debt drawdown. These include the raising and
expenditure by the Company of additional capital, the issue of operating permits
in accordance with development and environmental approvals previously issued by
the Indonesian government and the implementation of a hedging facility involving
approximately 45% of the project's current reserves.

In December, the Company announced that it had commenced interim hedging to the
extent of 33% of current reserves by way of the purchase of put options to
provide a floor price and protect Project revenue. The Company expects to
convert a portion of its existing resources into additional reserves on the back
of the current strong gold price and is confident of discovering further
reserves by means of exploration, thereby extending the Project life.

The Project operates under two Contracts of Work ('CoW') which constitute an
agreement between the CoW operating companies, in which Archipelago holds an 85%
interest and the Indonesian government. The CoWs provide exclusive rights for
the operating companies to explore, develop and produce from any identified
mineral deposits. Those portions of the CoWs that contain the delineated mineral
deposits that comprise the Project have now progressed to 'Construction' stage
in preparation for construction of the processing plant and the commencement of

In addition to construction rights, the CoW operating companies also have
environmental approvals in the form of approved AMDALs.

The project site is already cleared for construction and a workshop/warehouse
recently constructed with an administration office well advanced. Other
construction activities will commence as soon as contracts are finalised.
Shipment of the containerised portion of the El Tambo processing plant purchased
by Archipelago from Barrick is expected to take place early this year with the
remainder to follow soon after.

Archipelago anticipates having to raise about £11m of additional funding to: -

a)  complete project construction;
b)  commence exploration on the numerous mineralised targets and extensions to
    known deposits at Toka Tindung;
c)  undertake exploration in Vietnam and the Philippines; and
d)  meet corporate operating expenditure.

The mechanisms for raising these funds are still under consideration by the
Company but include equity and additional debt supported by current robust
project economics.

The Toka Tindung Gold Project has a resource of 1.75M ounces (ozs) of gold
equivalent, of which at least 0.9M ozs will initially be mineable by open pit.
The Project is targeted to produce an average 160,000 ozs per annum for the
initial 5 years of the current 6 year mine life. Production is expected to
commence in early 2007.

Archipelago is a mining company listed on the AIM market of the London Stock
Exchange. The Company's principal activities are gold mining and exploration in
Indonesia (as 85% owner of the Toka Tindung Gold Project in Sulawesi), Vietnam
(as majority party in the Cam Thuy/Ba Thuoc joint venture with Vimico a
Vietnamese Government mining company) and the Philippines (as option holder over
a 100% interest in the Corplex tenements).

Further Info:
Colin Loosemore
Managing Director
Archipelago Resources Plc.
Tel: 00-618-9364-8301

Richard Chase
Ambrian Partners Ltd
Tel: 020-7776-6401

Ron Marshman / John Greenhalgh
City of London PR Limited
Tel: 020-7628-5518


                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t