- BRMS is optimistic that gold production will reach 50,000 t oz
Bumi Resources Minerals (BRMS) is optimistic that gold production can reach more than 50,000 t oz by the end of 2024. In 1H24, the company has produced 26,000 t oz of gold, exceeding FY23 production. Currently, BRMS is still producing gold from open pit mining in block 1 (Poboya, Palu) with an average gold grade of 1-2 g/t. For the short and medium term, BRMS focuses on developing gold prospects in block 1 (Poboya) in Palu, Sulawesi. After drilling in many drill holes in the relevant area, BRMS announced the amount of mineral resources (resources) in Block 1 (Poboya) last month of 40M tons of ore with a gold content of 3.5 g/t. Of this amount, the majority came from underground prospects with a gold content of 4.9 g/t. The mineral resource information uses JORC (Joint Ore Reserve Committee) standards from consultants in Perth, Australia. As for mineral reserve data using JORC standards, it is planned to be announced at the end of this year while waiting for the results of the Australian consultant’s assessment. The gold production from underground mining in Palu with high gold content (3-4 g/t) is planned to start in the 2H27. (Kontan) - ERAL increases capital participation in subsidiaries
Sinar Eka Selaras (ERAL) has increased capital participation in one of its subsidiaries, namely MST Golf Indonesia (MGI), worth 15,729 shares or the equivalent of IDR 15.72B. MGI’s issued and paid-up capital increased to IDR 160.1B from the previous IDR 128B. The composition of MGI shareholders consists of MST Golf Group Berhad with 81,651 shares worth IDR 81.65B or 51%, from the previous value of IDR 65.28B or 65,280 shares. Meanwhile, ERAL holds 78,449 shares, or 49%. The additional capital deposit was to maintain ERAL’s capital ownership in MGI. (Kontan) - UVCR will buyback shares worth IDR 20B
Ultra Voucher (UVCR) has allocated up to IDR 20 billion for a share buyback program, running from November 21, 2024, to November 21, 2025. The buyback will not exceed 20% of the company’s paid-up capital, ensuring at least 7.5% of shares remain publicly traded. Of the funds, IDR 3.5 billion will go toward employee stock options (ESOP), while IDR 16.5 billion is for treasury shares to stabilize stock prices. The company aims to improve its long-term capital management and employee performance. (Emitennews)