PSP secured loan for Aceh gold

Prosperity Resources Limited, a company listed in Australia Stock Exchange, has executed a second loan agreement with China-based Resource Global Finance (RGF) Ltd to finance exploration work for Pinang-Pinang gold and copper project in Aceh.

The agreement allows Prosperity Resources to draw down US$500,000 at nil interest until June 30, 2010 where RGF will have a second ranking fixed charge over the company's interest in the cooperation agreement with PT Dana Mitra Utama for this loan.

Pinang-Pinang is a concession over 2,000 Ha in southern part of Aceh province controlled by PT Multi Mineral Utama.

Prosperity is focusing on metal projects in Indonesia, mainly gold, silver, copper, and nickel. The company is also seeking opportunities in iron ore and manganese.

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