Activity: Gold mining and exploration.
Stock Exchange: AR. (AIM)
Registered office
22 Melton St,
London, NW1 2BW,
United Kingdom.
Administration
9 Raffles Place,
#29-02 Republic Plaza
Singapore 048619
Ph: (65) 6535 3419 Fax: (65) 6532 2620
Email: investor@arplc.com.sg
Directors
Marcus Engelbrecht (Managing Director & CEO)
Eddy Porwanto (Deputy CEO)
Stephen Sulistyo (Non Executive Chairman)
Jeremy Ayre (Non Executive)
Graeme Duncan (Non Executive)
Senior Management
Jeff Dawkins (Chief Financial Officer)David Morrison (Chief Operating Officer - Toka Tindung Gold Project)
Matthew Salthouse (Vice President – Investor Relations & Corporate Affairs)
The Company has a strong management team with considerable experience of operating gold mining projects in south east Asia.
Major Shareholders
(Refer Major Shareholders)
Controlled Entities:
PT Tambang Tondano Nusajaya (95%)
PT Meares Soputan Mining (95%)
Toka Tindung Gold Project
In February 2002, the Toka Tindung Gold Project in North Sulawesi, Indonesia, was acquired by Archipelago Resources Plc from Aurora Gold Ltd, in consideration of the grant of a royalty which ramps up during the first year of production to a 0.375% uncapped gross production royalty on 85% of all the gold and silver produced from the project (equivalent to 0.31875% of total production).
A processing plant incorporating key crushing and grinding components of a gold processing plant previously located at El Tambo in northern Chile, was constructed at Toka Tindung in 2010 and commissioned in early 2011.
The Project is financed by way of equity and a US$55m debt facility.
Mining at the Toka Tindung Gold Project will be by way of 5 open pits with processing through a centralised CIL plant based on a reserve of 1.0m ozs of gold equivalent. The mineralogy of the Toka Tindung deposits is simple with indicated gold recoveries of approximately 94%. Production commenced in April 2011 and is targeted to produce at an average rate of 160,000 oz of gold equivalent per annum over the first 6 years of production.
The Project currently has an initial planned life of 8 years which given the excellent exploration potential existing at Toka Tindung, the Company is confident of substantially extending.