Int’l Pursuit takes over Dayak Goldfields

By taking over Dayak Goldfields, International Pursuit (IPJ-T) has become the largest holder of exploration rights in Kalimantan, Indonesia.

Pursuit issued 5.4 million shares to Dayak’s shareholders, thereby rendering Dayak a wholly owned subsidiary.

As a result of the takeover, Pursuit has increased its issued and outstanding share capital to 29 million shares. It has also assumed Dayak’s exploration rights in Kalimantan, giving it access to more than 5 million ha.

Jointly, the two companies have working capital in excess of $28 million, which includes Pursuit’s 19% interest in Java Gold (JVAG-C).