BRMS to set up a rights issue for gold extraction establishment

PT Bumi Resources Minerals Tbk (BRMS) would establish a silver and gold ore processing facility with a capacity of 2,200 tonnes per day in Gorontalo. The financial resource for this plan would be the funds gathered from the rights issue of 24 billion Series B shares and 8.5 billion Series III warrants.

Muhammad Sulthon, the Director of Bumi Resources Minerals, states that this rights issue plan would be discussed further in the Extraordinary General Shareholders Meeting on August 8, 2021. The Series B shares to be issued originate from the stock portfolio with a nominal price of IDR 50 per share, Sulthon explains in the information disclosure, quoted Wednesday (30/6).

According to Sulthon, the funds collected from this action would be channelled to the construction of supporting facilities. They include waste dump, sediment pond, townsite, office, workshop, and warehouse. There are also the construction of a haul road, spanning 12 metres wide, and a 75-metre long bridge from Tombolilato harbour to the gold and copper mines. Then, the remaining fund would go to the companys operational working capital.