16th Sep 2014 08:59
LONDON (Alliance News) - Aurasian Minerals PLC Tuesday said it is making progress on its south east Asia exploration programme, saying costs remain within forecasts and that it has identified some promising areas.
Following a visit to the region, the company said it is now focusing on creating more detailed target assessments for Myanmar, Cambodia and Lao PDR with plans to then start making field inspections and licence applications.
The company said spending on the programme was "well within" the original estimate of up to USD450,000.
"The new South-East Asian exploration programme is very encouraging. We are very excited about the mineral prospectivity, and we intend to maintain our patient, methodical approach as we seek to establish the Company in the region," said Aurasian Chairman Tony Shearer.
Aurasian shares were flat on Tuesday, quoted at 0.35 pence per share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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