JAKARTA (Yosefardi) – Investors focus buying shares of PT Borneo Lumbung Energi & Metal Tbk (BORN) this morning, boosted the stock up by 6.4% to Rp250 per share.
The stock has rebounded 25% from its bottom but still lost 54% year to date.
BORN, through its unit PT Asmin Koalindo Tuhup, has drilled 56 open holes at pit 7 of Kohong block during August 2013, drilled 7 holes at pit 10 and 7 holes at pit 8. This month BORN will drill at pit 21 for total 62 holes.
The company has yet submitted its financial report for first half of this year, which now under review by independent audit firm related to its investment in Bumi Plc.
BORN, through its affiliate Ravenwood Pte Ltd, had acquired 23.8% ownership in Bumi Plc from Bakrie Group for a total of US$223 million.