Overview

Robust will acquire 100% of the shares in JAMM in exchange for the issue of 2.15 million new ordinary shares in the Company, i.e.:

  • 650,000 Robust shares were issued on completion of the transaction
  • 1,000,000 Robust shares will be issued progressively as key operational milestones are achieved
  • 500,000 Robust shares will be issued upon definition of a 1 million ounce Gold JORC-compliant resource (indicated or measured category). "Robust has acquired 100% of the shares in JAMM in exchange for the issue of 2.15 million new ordinary shares in the Company".

Robust's Managing Director Mr Gary Lewis commented: "For some time we have been assessing opportunities to expand our exploration portfolio into areas that are both geological prospective and operationally manageable. As our Romang Island Project in Indonesia enters the early stages of its development phase, the JAMM Philippines transaction will broaden and deepen our pipeline of exploration assets in a country and geological region that we know and understand".