Collerina Cobalt Limited is an Australian based resource development company, with a focus on gold and copper within Indonesia and nickel projects within Eastern Australia.
The Company has a highly experienced Board and Management team, which includes extensive corporate and management experience in gold and copper exploration and mining.
Collerina Cobalt Limited is advancing the Wonogiri copper gold project in Java, Indonesia. A positive scoping study of the Randu Kuning gold-copper prospect, the most advanced prospect within the Wonogiri project was released in March 2014. Following the release of the scoping study result at Randu Kuning, Rajawali Group, through its nominee company PT Archi Indonesia, subscribed for 50,536,400 fully paid ordinary shares for consideration totalling A$3,750,000, or approximately $0.074 per share. This was in addition to the 60,000,000 Collerina Cobalt Limited shares subscribed for in December 2013 at $0.05 per share, for consideration totalling A$3,000,000.
In July 2014 Collerina Cobalt Limited completed the acquisition of an 80% interest in four prospective copper and gold tenements, collectively referred to as the 'Gorontalo properties', in North Sulawesi from MMG Exploration Pty Ltd ('MMG') through the acquisition of shares in two MMG Singaporean subsidiaries which own the Indonesian PMA companies that hold the mineral tenements.
Following the additional investment in Collerina Cobalt Limited by the Rajawali Group Collerina Cobalt Limited is fully funded to undertake active exploration programs at Wonogiri and the Gorontalo properties through 2014-2015.
The company focuses on advanced projects with near surface gold mineralisation and good infrastructure supporting the projects.