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Nusantara reduces stake in Awak Mas gold project

Nusantara Resources is aiming to sell a 40% stake in the potential 100,000 ounce per annum Awak Mas gold project in Indonesia for US$40 million to major shareholder Indika Energy.

Nusantara reduces stake in Awak Mas gold project Nusantara reduces stake in Awak Mas gold project Nusantara reduces stake in Awak Mas gold project Nusantara reduces stake in Awak Mas gold project Nusantara reduces stake in Awak Mas gold project

Awak Mas in Indonesia

Indika, which currently holds about 20% of Nusantara, is to pay $15 million for 25% ownership, with another $25 million to increase its stake to 40% due upon a final investment decision.