CAPTION: Taione Pelaki working the drill as the company continues its exploration at Udu Point. Photo: SUPPLIED.
Dateline Resources Limited has announced that its proposed merger with Australian based Conto Resources has been approved by Conto’s shareholders. This will result in an injection of up to F6.2 million over the coming year in an expanded exploration and drilling programme at Udu Point.
Dateline, also located in Australia, through its Fiji company Matai Holdings (Fiji) Limited, is the owner operator of the Udu Point project and has been exploring for copper and zinc deposits on its lease holdings since l996.
In addition Dateline’s Chairman Mark Johnson has been appointed Chairman of Conto Resources.
“The merger with Conto brings technical expertise and access to capital markets to Dateline and substantially increases our resources as we continue our exploration,” said Mr. Johnson.
“This means that if our work proves successful we are now better positioned to move quickly towards the development of a mine,” said Mr. Johnson.
He reiterated that this is a vote of confidence in Fiji as an investment destination and acknowledged the support the Fiji Government, the Reserve Bank, and “especially to the landowners whose commitment has made this all possible.”
Mark Johnson, who was raised in Fiji, is prominent in Australia, was as the former Deputy Director of Macquarie Bank and is currently Chairman of Alinta Energy.
PRESS RELEASE