Elang has higher grade AUElang has higher grade AU than Batu Hijau. Also There is a $2.5 billion dollar funding committment from Sumitomo Bank (for Newmont)
Check my 02./05/2007 post on SA
Soccer57
Exploration at Elang, another deposit 60 kilometers west of Batu Hijau, was halted in March and will resume
soon, Hickey said. Elang has lower-grade copper ore than Batu Hijau, but higher grade gold ore. The ore
body extends significantly onto an adjacent property held by Canada-based Southern Arc Minerals.
I also found a newspaper article which quoted Sumitomo Bank committing to a $2.5 billion investment/loan for the East Elang project. I no longer have a location for the article.
This East Elang project is why I bought 250,000 + shares in 2006
Tue Aug 8, 2006
Newmont repairs Batu Hijau mine to meet production targets
File: https://www.southernarcminerals.com/i/pdf/060808-mode-bacainfo_id4400.pdf
160 KB, approx. 31 seconds at 56.6Kbps
This story is on the website. Check paragraph 10
It looks to me that SA is a steal at these prices for a speculator with patience.
I use Ouija Board and Astrological charts. (no waves for me)
soccer57