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Western Mining Network Limited (WMN)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Western Mining Network Limited
Western Mining Network Limited (WMN) was incorporated on 4th June 2010 for the purpose of acquiring resource based projects in Indonesia, namely but not limited to coal, base metals and gold.
The Company has 3 on-going projects in Central and Southeast Sulawesi for graphite, gold and manganese.
Tamboli Indonesia Graphite Project
WMN has completed the transaction to acquire options to purchase up to 75% of PT Mekongga Sejahtera and 99% of PT Eagle Rich Nusantara, giving WMN access to 98.04 Ha of Mekongga’s graphite Tenement in Tamboli, Kolaka, Indonesia as well the potential graphite beneficiation and industrial estate establishments. WMN shareholders approved the transaction during the Extraordinary General Meeting held on October 23rd, 2014.
Access from Jakarta is 1,420km to the east by regular flights to Makassar, which is in South Sulawesi and then by a daily flight ENE for 266km to Pomalaa in South East Sulawesi. The Project is strategically located at Tamboli village, Samaturu District, Kolaka, South East Sulawesi, Province, Indonesia.
The Gulf of Boni (also known as Bone Bay or the Bone Gulf) is to the west and opens to the south into the Banda Sea. In the other three directions the coastal plain soon passes into hills and low mountains. There are no resident inhabitants within the hills of the IUP project area.
It is close to the coastal highway that passes through Kolaka and provides good local access for 50km to the north and northwest.
Persada Gold Project
WMN holds a 75% interest in PT Persada Bumirawas (“PBR” or the “Company”), which is a prospective gold mine with Clean and Clear status (8 years tenure expiring on 12 August 2016). Western Mining Network Limited have received a Foreign Principle License from the Indonesia Investment Coordinating Board approving the ownership.
PBR covers an area of 5,000 hectares in Central Sulawesi, Indonesia. The area is generally covered by secondary forest, clove and cocoa plantation. It does not require forest permit for exploration and production. It is covered with Tinombo (Tts), Marine sediment (Tms) and Alluvial (Qal) formations.
he highest anomalies for gold are mostly underneath silicified fine grain sandstone and siltstone that is intruded by diorite on the ridge between the Salutu River and Ladamin Rivers. This is also supported by relatively higher grade gold content from rock float obtained on the same ridge. The element association of samples indicates that mineralisation is due to hydrothermal activity.
WMN plans to further test these anomalies during the 1st quarter of 2015.
Genesis Manganese Project
WMN holds a 51% interest in PT Genesis Berkat Utama, which is the sole owner of the Genesis Project in Toli Toli, Sulawesi.
Genesis is currently one of a select group of manganese in Indonesia that currently is licensed for production, on the clean and clear list and holds a clean and clear certificate.
A few planned smelters are in the pipeline for development in Indonesia and WMN believes Genesis will be of strategic importance when these smelters begin operation in the coming years.
Western Mining Network Limited
680 George street
+61 2 8280 7494
Fax: +61 2 9287 0350
The General Overview, Services, Products and Projects information for this profile was last edited on 04 Jun 2015.