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Western Manganese forms strategic alliance with Borneo
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Monday, 31 Oct 2011
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Western Manganese Limited has announced a significant development in fast tracking the objectives for shareholders stated in the December 2010 IPO Prospectus.

WMN has joined forces with Borneo Brothers Limited, a well established and highly successful exploration company with a proven track record of success in Indonesian resource projects.

BBL brings to WMN its highly experienced finance and due diligence team backed by a strong and well established network of Indonesian political, business and community alliances.

WMN signs a Heads of Agreement with BBL to acquire an option to buy a majority stake in an Indonesian company holding a manganese production license in Central Sulawesi. Through the HOA, WMN also acquires first right of refusal to BBL's pipeline of manganese projects for the next two years.

BBL is an investment company that specializes in resources exploration and the early stages of mining investments in Indonesia. The company recently exited its substantial investment in an Indonesian thermal coal concession through a sale to a multinational Asian publicly traded conglomerate, after doing detailed exploration work on the concession and having a JORC reserves estimate of 60 plus million tonnes and resources estimate of 100 plus million tonnes report completed.

BBL's well established Jakarta based team is highly engaged in the Indonesian resource and financial communities. The alliance with BBL brings to WMN a committed legal, administrative, logistical, geological and financial team of specialists backed by a proven track record of success.

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