JAKARTA (Yosefardi) – Gold producer PT J Resources Asia Pacific Tbk (PSAB) has secured loan facility of US$50 million from 2 local banks, Indonesia Eximbank and PT Bank Permata TBk (BNLI).
PSAB earlier said it needs funds of US$300 million, equivalent Rp3.8 trillion, for funding the development of Bakan and Seruyung gold mine blocks. PSAB has gold reserves of 1.81 million troy ons and gold resources of 5.15 million troy ons.
PSAB booked net profit of US$10.56 million in the first quarter of 2015 on revenues of US$79.3 million.
Meanwhile PT Merdeka Copper Gold Tbk mulls to seek loan of US$100 million, equivalent Rp1.3 trillion, for working capital. It is now approacing 10 banks, local and foreign, for proposing loan.
Merdeka Copper Gold plans to list its 12% shares on the Indonesia Stock Exchange (IDX) in June 19, 2015. Merdeka Copper Gold suffered loss of US$5.08 million in 2014, widened from loss US$1 million in 2013. It assets reached US$8.5 million while liability amounted US$2.7 million.