1. Most Discussed
  2. Gainers & Losers
NUS 25.0¢

NUSANTARA RESOURCES LIMITED

Refresh
142 posts · 603 Monthly Visits *

INDICATED RESOURCE GROWS BY A FURTHER 0.2 MOZ 

Potential Open Pit Mine Life Extension

ASX Announcement 8 May 2018 

Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS) is pleased to provide the following Mineral Resource update for the Awak Mas Gold Project located in South Sulawesi, Indonesia following inclusion of the final 31 resource definition and metallurgical diamond holes from the Phase 1 drilling program.

  • Confirmation of the previously reported 2.0 Moz Mineral Resource inventory at a 0.5 g/t Au cut-off1 
  • 89% of the Project Mineral Resource reports to the Indicated Resource category, an increase of 0.2 Moz 
  • Estimate will form the basis of the ongoing Definitive Feasibility Study (DFS), signaling potential for a further increase in the Ore Reserve beyond the recently reported 1.0 Moz2 
  • Nusantara, with significant exploration potential still to be tested, expects to continue to grow the globally significant quality and scale of the Awak Mas Gold Project

The Indicated and Inferred Resource estimate at 0.5 g/t Au cut‐off for the Awak Mas Gold Project, consisting of the Awak Mas, Salu Bulo and Tarra deposits, is now reported at 45.3 Mt at 1.4 g/t Au for 2.0 Moz (Table 1, Figure 1, Appendix 1).

Importantly, 95% of the contained ounces within the Awak Mas deposit and 90% of the contained ounces in the Salu Bulo deposit now report to the Indicated Resource category. This represents a 0.2 Moz increase in contained gold in the Indicated Resource category compared to the previous Mineral Resource estimate.

The increase in resource confidence with the reclassification from Inferred to Indicated is expected to positively influence the Ore Reserve, open pit mine life, and project economics as the DFS progresses.

The DFS remains on track for delivery in July 2018 with a further material upgrade in the Ore Reserve anticipated following incorporation of this Mineral Resource update. The focus of the DFS is now on value enhancement with attention to waste dump design, pit optimisation, materials handling efficiency and mine scheduling.

“Achieving 89% in the Indicated Resource category for the Awak Mas Gold Project is a direct reflection of strong confidence in the geological model” commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “This Mineral Resource update also confirms potential to increase the mine life beyond our initial ten-year target, which will be confirmed in the forthcoming DFS. It is pleasing to see our geological and feasibility work continuing to demonstrate Awak Mas as a long-life, low cost, stand-alone gold project with significant exploration upside for further growth”

Click here to view the full announcement 

MARCH 2018 QUARTERLY ACTIVITIES REPORT

ASX Announcement 30 April 2018 

Tenure secured and Mineral Resource expanded 

Two pivotal events during the quarter underpinned significant project value for Nusantara Resources Limited (‘Nusantara’, ASX: NUS) at its 100%-owned Awak Mas Gold Project (‘Project’); Contract of Work (‘CoW’) amendments signed with the Government of Indonesia providing long-term investment stability and tenure and the expansion of the Mineral Resource base to 2 million ounces.

HIGHLIGHTS AWAK MAS GOLD PROJECT 

  • Long-term tenure and investment stability secured following amendments to CoW
  • Mineral Resource increased to 2.0 million ounces 
  • Eastern Extension to Awak Mas mineralisation confirmed from step-out drilling
  • Metallurgical test work drilling completed • Geotechnical and hydrogeological drilling progressing 
  • Grid power supply connected at Awak Mas camp site

FINANCIAL AND CORPORATE 

  • Board welcomes two new Non-Executive Directors, Robin Widdup and Greg Foulis

JUNE QUARTER CATALYSTS 

  • Maiden Ore Reserve estimate
  • Completion of site, geotechnical, and hydrogeological drilling 
  • Mineral Resource and Ore Reserve updates incorporating all recent drilling results 
  • Completion of Definitive Feasibility Study 
  • Advancement of process for Indonesian strategic partner

Click here to view the full announcement 

NUSANTARA DELIVERS MAIDEN 1.0 MOZ GOLD ORE RESERVE 

ASX Announcement 18 April 2018 

Confirming Potential for Long-life Open Pit Mine

Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS), is pleased to announce a maiden Ore Reserve of 1.0 million ounces contained gold for its 100%-owned Awak Mas Gold Project located in South Sulawesi, Indonesia.

  • Ore Reserve supports a long-life, low cost gold operation at a 2.5 Mtpa processing rate, with a low strip ratio of 3.5 and good access to established power and transport infrastructure
  • Nusantara continues to deliver on project milestones following the successful August 2017 IPO
  • Nusantara expects to continue to grow the Awak Mas Gold Project reserves and resources to a globally significant quality and scale, with significant exploration potential still to be tested

The Awak Mas Gold Project Probable Reserve at 0.5 g/t Au cut-off using a US$1250/oz gold price is 23.7 Mt at 1.35 g/t Au for 1,030,000 contained ounces. The Ore Reserve estimate (Table 1) is based on the Mineral Resource estimate reported for the Awak Mas and Salu Bulo deposits in January 20181 and February 20182 respectively (Figure 1), and work completed in the first stage of the Definitive Feasibility Study (DFS)3.

The DFS remains on track for delivery in July 2018:

  • A further material upgrade in the Ore Reserve which will be used to finalise the DFS is anticipated in June, following incorporation of the 16 remaining drill holes not included in the current Mineral Resource estimate
  • The focus of the DFS is now on value enhancement with attention to waste dump design, pit optimisation, materials handling efficiency, and mine scheduling

“Our maiden Ore Reserve represents a significant milestone for the Company and now places Nusantara among an elite group of ASX-listed gold development companies”, commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “This Ore Reserve combined with the exploration potential of the project demonstrates the value of a proposed long-life, low cost, stand-alone gold project at Awak Mas.”

Click here to view the full announcement 




INDONESIAN CoW AMENDMENTS SIGNED

ASX Announcement 15 March 2018


Awak Mas Long-Term Tenure and Ownership Secured

• Divestment not required before the 10th year of commercial production.

• Awak Mas Gold Project tenure confirmed until 2050.

• Agreement concludes a period of negotiation and uncertainty.


Nusantara Resources Limited (‘Nusantara’, ASX: NUS) is pleased to announce that it has reached agreement with the Government of Indonesia (GoI) on several amendments to the Awak Mas Gold Project Contract of Work (CoW).


The Awak Mas Gold Project is held under a 7th generation CoW signed with the GoI in 1998. The CoW covers an area of 14,390 hectares and is held by Nusantara’s 100% owned local subsidiary company, PT Masmindo Dwi Area (PT Masmindo). In 2009, the GoI introduced a new mining law that required existing CoWs to be adjusted consistent with the provisions of the 2009 Mining Law.


The signed CoW amendment reaffirms PT Masmindo as the legal holder of the CoW with the sole rights to explore and exploit any mineral deposits within the CoW area until 2050. After this period, the operations under the CoW may be extended in the form of a special mining business licence (IUPK) in accordance with prevailing laws and regulations, which currently allows for an extension of 10 years and a further extension of 10 years.


The agreed amendments to the PT Masmindo CoW include:

• adopting the prevailing rates for taxes and royalties featuring:

- a corporate tax rate of 25%; and

- a gold royalty rate currently levied at 3.75%; and

• the divestment of at least a 51% share in the CoW to Indonesian participants at fair market value according to internationally accepted practice by the 10th year of commercial production. Based on the current mine development schedule, divestment is not anticipated to be required before 2030, although Nusantara may elect to sell any percentage interest prior to this time.


“This agreement provides certainty of tenure, investment stability for the development of the Awak Mas Gold Project and compliance with the prevailing law. This is a ‘win-win’ outcome for both parties as it removes any perceived uncertainty surrounding a staged divestment process and provides Nusantara with a clear path forward to continue its discussions with project financiers, including a previously announced engagement process with potential Indonesian strategic partners.”, commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “We would like to thank the Indonesian Government for its co-operation and good faith during the negotiation process.”


This is a paid advertisement. HotCopper does not endorse, approve or take responsibility for the statements made.
Forum
Stock Code
SubjectView as
Poster
Views
Rating
Date
    ×
    Australia's leading analysts are standing by.
    Ask any question FREE on any ASX listed company, we will answer your question by next business day and give you share recommendations from our Award-Winning team, FREE for 21 days
  1. Sponsored
  2. 71
    15/05/1815/05
  3. 163
    08/05/1808/05
  4. 90
    08/05/1808/05
  5. 134
    1
    08/05/1808/05
  6. 149
    08/05/1808/05
  7. 1,681
    02/05/1802/05
  8. 66
    30/04/1830/04
  9. 95
    30/04/1830/04
  10. 58
    30/04/1830/04
  11. 56
    27/04/1827/04
  12. 62
    24/04/1824/04
  13. 71
    24/04/1824/04
  14. 65
    24/04/1824/04
  15. 51
    24/04/1824/04
  16. 1,681
    1
    22/04/1822/04
  17. 1,681
    20/04/1820/04
  18. 1,681
    3
    20/04/1820/04
  19. 1,681
    20/04/1820/04
  20. 1,681
    20/04/1820/04
  21. 1,681
    2
    18/04/1818/04
  22. 1,681
    18/04/1818/04
  23. 1,681
    2
    18/04/1818/04
  24. 1,681
    1
    18/04/1818/04
  25. 1,681
    18/04/1818/04
  26. 1,681
    18/04/1818/04
  27. 66
    18/04/1818/04
  28. 1,681
    18/04/1818/04
  29. 1,681
    2
    18/04/1818/04
  30. 96
    17/04/1817/04
  31. 111
    06/04/1806/04
  32. 83
    06/04/1806/04
  33. 146
    04/04/1804/04
  34. 151
    04/04/1804/04
  35. 120
    29/03/1829/03
  36. 101
    28/03/1828/03
  37. 433
    1
    24/03/1824/03
  38. 147
    1
    15/03/1815/03
  39. 131
    15/03/1815/03
  40. 433
    2
    15/03/1815/03
  41. 146
    08/03/1808/03
  42. 94
    28/02/1828/02
  43. 121
    28/02/1828/02
  44. 137
    1
    27/02/1827/02
  45. 153
    20/02/1820/02
  46. 154
    09/02/1809/02
  47. 159
    01/02/1801/02
  48. 4,446
    3
    31/01/1831/01
  49. 124
    31/01/1831/01
  50. 152
    31/01/1831/01
  51. 4,446
    1
    30/01/1830/01
  52. 4,446
    29/01/1829/01
  53. 4,446
    1
    29/01/1829/01
  54. 4,446
    2
    28/01/1828/01
  55. 4,446
    28/01/1828/01
  56. 4,446
    26/01/1826/01
  57. 4,446
    25/01/1825/01
  58. 4,446
    24/01/1824/01
  59. 4,446
    24/01/1824/01
  60. 4,446
    24/01/1824/01
  61. 4,446
    1
    23/01/1823/01
  62. 4,446
    22/01/1822/01
  63. 4,446
    22/01/1822/01
  64. 190
    22/01/1822/01
  65. 4,446
    17/01/1817/01
  66. 4,446
    17/01/1817/01
  67. 195
    16/01/1816/01
  68. 4,446
    12/01/1812/01
  69. 128
    08/01/1808/01
  70. 4,446
    22/12/1722/12
  71. 4,446
    1
    21/12/1721/12
  72. 139
    20/12/1720/12
  73. 325
    19/12/1719/12
  74. 325
    19/12/1719/12
  75. 4,446
    15/12/1715/12
  76. 98
    13/12/1713/12
  77. 4,446
    1
    07/12/1707/12
  78. 379
    1
    06/12/1706/12
  79. 2,606
    1
    23/11/1723/11
  80. 146
    15/11/1715/11
  81. 2,606
    15/11/1715/11
  82. 162
    14/11/1714/11
  83. 101
    14/11/1714/11
  84. 2,606
    2
    13/11/1713/11
  85. 105
    1
    09/11/1709/11
  86. 379
    2
    08/11/1708/11
  87. 156
    1
    08/11/1708/11
  88. 78
    02/11/1702/11
  89. 139
    02/11/1702/11
  90. 137
    30/10/1730/10
  91. 179
    19/10/1719/10
  92. 219
    18/10/1718/10
  93. 229
    17/10/1717/10
  94. 721
    10/10/1710/10
  95. 721
    10/10/1710/10
  96. 721
    10/10/1710/10
  97. 198
    03/10/1703/10
  98. 214
    27/09/1727/09
  99. 149
    12/09/1712/09
  100. 604
    10/09/1710/09
  101. 604
    09/09/1709/09
Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.