On the up?27 Sep 2012 12:14
Papua Mining, a UK company focussed on the exploration for and if commercially feasible, development of gold and copper deposits in Papua New Guinea, has announced interim results for the six months ended 30 June 2012 which show excellent progress on its exploration programmes in Papua New Guinea.
A major geophysical survey is currently underway at Nakru and diamond drilling is to begin at Nakru early next year.
The company raised $11m in IPO financing in March.
Commenting on the results, Michael Jolliffe, Chairman of Papua said: "Papua Mining plc has three exploration licences and eleven exploration licence applications in Papua New Guinea in the highly prospective "Ring of Fire" region. We are greatly encouraged by the results of the exploration carried out to date, and we look forward to the drilling programme now planned for the early part of next year."
looking good here.