Where do Nusantara’s shares trade and what is the code?

The company’s shares trade on the Australian Securities Exchange (ASX) under the code NUS.

What is Nusantara’s key project?

The company’s key asset is the Awak Mas Gold Project (100% owned), located in South Sulawesi province, Indonesia. It is held under a 7th Generation Contract of Work in partnership with the Indonesian Government with tenure to 2050 with options for extensions

Awak Mas hosts an Ore Reserve of 1.1 Moz gold within a 2 Moz gold Mineral Resource, with significant upside potential for further discovery of additional resources.

The project is expected to have a mine life of over ten years (annual production of approximately 100,000 oz of gold) with low costs (targeted AISC ~ US$700/oz). All external approvals are in place for construction commencement

Is there existing infrastructure near the project?

Awak Mas is located near established roads, ports, a regional airport and grid power.  The company has signed a landmark MOU with State-owned power utility (PLN) for the future supply of grid power to the project. 

The PLN has recently completed major upgrade of grid power supply in Southern Sulawesi providing high voltage power to within 35 km of the project.  The supply of low cost grid power to Awak Mas is a major development leading up to the commencement of the company’s DFS.

Is there additional exploration potential under the Contract of Work?

Yes – over 16 high grade exploration targets have been recognised.

  • East Corridor – Salu Bulo to Tarra: ‘Walk-up’ drill targets at Kandeapi and Salu Kombong

  • Mine Corridor – Awak Mas to Salu Bulo: Early success from recent eastern extension drilling

There is also greenfields exploration potential on unexplored areas in the northern and southern parts of the CoW.

What is the company’s strategy to progress Awak Mas?

Nusantara aims to increase shareholder value through advancing the Awak Mas Gold Project towards development, with a Definitive Feasibility Study (DFS) targeted for completion in September 2018. Project financing and strategic partner commercial discussions are well underway, with production is targeted for 2020.

Is Indonesia a favourable mining jurisdiction?

Yes. The gold mining industry in Indonesia continues to grow and includes the world-class Martabe (EMR Capital) and Gosowong (Newcrest) operations.

The gold mining industry is also not subject to any export restrictions of refined gold bullion.

Who is major Shareholder, PT Indika Energy Tbk?

On completion of a A$10.25 million capital raising in December 2018, PT Indika Energy Tbk obtained a 19.9% interest in Nusantara Resources through PT Indika Minerals Investido.

Indika Energy is a leading integrated energy company in Indonesia in the areas of Energy Resources, Energy Services and Energy Infrastructure.