AKD akd limited

iron - report herewith This looks interestingBut the negative is...

  1. 1,536 Posts.
    iron - report herewith This looks interesting

    But the negative is that they appear to be going to reconstruct their capital

    AKD to Acquire 70% Interest in the Yogyakarta Ironsands, Pig Iron Project, Indonesia
    23/09/2005 5:52PM

    AKD announced that it had reached an agreement with PT Jogja Magasa International (JMI) and Nusantara Energy (NEL) whereby it may acquire a 70% interest in the Yogyakarta Ironsands, Pig Iron Project located in Yogyakarta Province, Indonesia. The Parties have agreed, subject to feasibility, that the ironsands deposit at Yogyakarta will be used as the basis for the establishment of a liquid iron (pig iron) making facility in the Yogyakarta Region to provide feedstock for major regional steel producers. As consideration for this acquisition, AKD will issue to NEL 100m fully paid 1 cent shares in the capital of AKD (on a pre-consolidated basis) and reimburse NEL's previous expenditure on the Project of US$105,000. Under the earn-in arrangement, AKD will undertake to fund and manage all aspects of development of the Project.
 
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