Wilton Resources pares stake in subsidiary to fund Indonesia project
Its sale of 742m shares for S$3.5m reduces its stake in Wilton Makmur Indonesia to 86.56 per cent
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GOLD miner Wilton Resources has sold some 742 million shares in its subsidiary Wilton Makmur Indonesia for about S$3.5 million in cash, effectively reducing its stake in the company from 91.34 per cent to 86.56 per cent.
In its announcement on Monday (Apr 4), Wilton Resources said it intends to use net proceeds from the sale to fund leaching activities at its processing facility at its Ciemas Gold Project in West Java, Indonesia.
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