trending Market Intelligence /marketintelligence/en/news-insights/trending/CeKC_b8DfD-coNdEnPHMlg2 content esgSubNav
In This List

Southern Arc acquires 5.66% stake in West Lombok buyer

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Southern Arc acquires 5.66% stake in West Lombok buyer

Southern Arc Minerals Inc. said Dec. 12 that it used cash proceeds from the sale of its Singaporean Indotan Lombok Pte. Ltd. subsidiary to PT Ancora Indonesia Resources Tbk to acquire 100 million PT Ancora shares, representing a 5.66% stake.

Indotan Lombok owns 90% of PT Indotan Lombok Barat Bangkit, which in turn holds the exploration permit for the feasibility-stage West Lombok gold property in Indonesia.

The company outlined plans in early September for the US$2 million sale of its Singaporean unit.