ASX-listed Nusantara Resources has struck a non-binding term sheet with strategic partner PT Indika Energy providing up to $40-million in project equity and up to $40-million in deferred payments to finance the Awak Mas gold project, in Indonesia.
Under the terms of the proposed agreement, Indika Energy would invest up to $40-million in Nusantara’s subsidiary PT Masimindo DWI Area over two stages, to secure a 40% interest in the project company.