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Aurora Minerals investing in Indonesia-focused gold explorer

Aurora Minerals Ltd. is investing in Australian public unlisted company One Asia Resources Ltd. via a private placement, according to a Dec. 20 release.

Under the terms, Aurora Minerals will subscribe for 5,555,556 ordinary fully paid shares in One Asia at 18 Australian cents apiece for a total of A$1.0 million.

One Asia is focused on advancing the Pani and Awak Mas gold projects in Indonesia, which have combined resources of 5.2 million ounces of gold, with potential to further increase through exploration.

According to the statement, One Asia is considering a listing for Awak Mas, as it is the most appropriate way to fund and manage a definitive feasibility study for the project.