Vancouver copper-gold explorer Southern Arc Minerals (TSX-V:SA) has resumed drilling at its West Lombok project in Indonesia, the company announced the morning.
Company drill rigs were torched at the project in May and again in August. (See “Indonesian protestors torch company’s drill rig” – BIV Business Today, May 17 and “Indonesian protestors torch Vancouver miner’s drill rigs” – BIV Business Today, August 9.)
In this morning’s announcement, the company stated five drill rigs have been moved to the project, at the Waterfall target at the Mencanggah prospect and two more are due on site shortly.
The company stated it expects to have seven rigs drilling at Mencanggah by the end of October and that additional rigs will arrive in November.
“We have worked with the support of all levels of Indonesian authorities to implement our new security plan, and look forward to reporting drill results from Mencanggah as the exploration program unfolds,” Mike Andrews, company president and CEO, said in this morning’s release.
At press time, company stock was up nearly 8% to $0.97. The company’s 52-week high was $2.08 and 52-week low was $0.81.
Calls to the company were not returned by press deadline.
Jenny Wagler
@JennyWagler_BIV