Company Overview

The Company has two major Indonesian company shareholders, which are PT Saratoga Investama Sedaya Tbk and PT Provident Capital Indonesia. 


Advantage

Highest Quality Assets

  • The current development of the Heap Leach Project, a low capital cost, low operating cost and low technical risk standard gold heap leach operation with an initial gold production in the Q1 2017.
  • The world class Porphyry Project containing 28 million ounces of gold and 19 billion pounds of copper with a future potential mine development, subject to positive outcomes of the relevant technical, environmental and social studies, with an estimated mine life of approximately 25 (twenty five) years.

Excellent Standing

  • A successful initial public offering of shares (IPO) in June 2015, being the first non-production mining company to be listed on the Indonesian Stock Exchange and offering considerable value upside as the Company moves from construction into production operations stage at the early 2017.
  • Highly experienced and well established founding Shareholders – with a strong track record in mining company investment.
  • A knowledge management team set to deliver the Company’s initial Heap Leach Project on time and on budget and then undertaking the relevant technical studies for the world class porphyry copper gold development.

Fully Financed

  • In addition to the new equity funding raised during the IPO, the Company has also secured standard project debt financing, which will ensure the Company’s Heap Leach Project is fully funded through full constructions, commissioning and into production operations stage at the early 2017.
  • The strong cash lows to be generated by the Heap Leach Project over an initial 9 (nine) years production will provide important funding for the Company to pursue the necessary technical, environmental and social studies pursuant to the potential future development of the Porphyry Project.

Environmentally Safe and Balanced Development 
The Tujuh Bukit Project: a standard for inclusive, environmentally safe and balanced development in the mining sector. Drawing on the considerable experience of the founding Shareholders and the expertise of the Company’s management team, a thorough and complete approach has been taken to ensure all aspects of national standards and local economic development planning have been carefully considered. We believe the Project offers outstanding benefits to all Stakeholders and is world class in conception and execution. 

Construction Progress

Safety remains the project's number one value with the highest focus from all of the project team, which resulted in a solid safety performance throughout the year.

Substantial project progress was made throughout 2016 despite record rainfalls for the majority of the year, in both wet and dry seasons. The project is currently over 92% complete with first gold on schedule for Q1 2017.

All construction project works are on budget. Despite the rain issues encountered throughout the year, environmentally the project performed very well.