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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold | |
| Date: | 6/29/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2020: Nusantara Resources Ltd. announces a Feasibility Study report for its Awak Mas deposit at the Awak Mas project. Updated DPS economics incl. post-tax NPV (5%) of US$517M & IRR of 45%. Nusantara is seeking to finance Awak Mas through a combinatio | |
| Resources: | (Reserves, P+P): 35.6Mt @ 1.33g/t Au (1.53Moz Au) | |
| CP/QP: | [Overall Report] n/a (n/a) | |
| ABSTRACT: | Nusantara is seeking to finance Awak Mas through a combination of project debt, mezzanine finance and equity, including a further investment of USD25M by PT Indika Energy Tbk (Indika) in the project vehicle to take its ownership interest to 40%. As announced previously, Nusantara has engaged Noah’s Rule as specialist debt and hedge adviser to the project vehicle and commenced formal engagement of a debt financing syndicate. Following the updated DFS project economics, Nusantara will engage an independent technical expert report to aid prospective financiers. Discussions continue to advance with these parties for funding the development of Awak Mas, with the improved production profile anticipated to increase the Awak Mas debt capacity, with circa USD140M now being sought. Completion of financing will be subject to terms usual for a transaction of this nature including lender due diligence, formal documentation and credit approval. Whilst these discussions continue, funds raised under the recent AUD11.6M placement and share purchase plan, Petrosea’s deferred payment terms for up to USD15M and Indika’s advance of USD15M in May 2020 will allow significant progress in Awak Mas predevelopment decision activities. | |
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