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Agis Allocates US$5 Million for Gold Exploration
December 23, 2013

StockWatch (Jakarta) - PT Agis Tbk (TMPI) is allocating US$5 million for financing gold mining exploration and exploitation in 2014. In the mining activities implementation, the company is making a partnership with a China state owned mining company. Steven Kesuma, the President Director of TMPI, disclosed, the company is focussing its business at gold mining. Previously, TMPI owned business in electronic goods distribution. Therefore, the company’s log and name is changed becoming PT Sigma Gold Inti Perkasa Tbk. “The company’s new logo and name is using formally in January 2014,” he said in a public expose on Friday (20/12) afternoon. He clarified, the company through its subsidiary, PT Agis Resources, plans to hold an alluvial gold mining exploration at 7,000 hectares area in Pasaman, West Sumatera, on the second quarter of 2014. The company currently is completing licences and agreements to operate the gold mining. Besides, the companya is also socializing that gold mining in the gold mining area and developing gold mining contractor services business. Steven hoped, the drilling getting permission has been capable to be held on the first quarter of 2014, so the production trial is capable to complete. The company completes the exploration together with PT China Coal Geology Mining (CCGM), as an exclusive mining contractor. “After getting the drilling license, we expect to be capable to hold drilling for next two or three months,” he revealled. On the first phase, the company’s gold production in Pasaman is expected around 20-40 thousand cubic meter per month. (abr)