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MAKE MONEY BLOG $ ~ Jakarta - After announcing the potential gold and copper ores in Gorontalo amounted to 292 million tons, PT Bumi Resources Minerals Tbk (BRMS) received a positive recommendation from the analysts. Despite of all concessions held by BRMS, only the Batu Hijau mine PT Newmont Nusa Tenggara (NNT) has been produced.
Based on the research results Panin Securities, submitted Dawn Indra, Friday (14/09/2012), a subsidiary of PT Bumi Resources Tbk (Bumi) has a positive potential on the Batu Hijau mine and JORC PT Gorontalo Minerals.
Valuation of net asset value rose 15.3% to IDR 490 per saha,. "We did some calculations are then linked to the net asset value (Net Asset Value / NAV) valuation methodology Sum of the Parts (SOTP). Till now, we still do calculations and maybe we will be publishing in the near future," he explained.
Panin Securities subsequent to focus on investment risk. That the main income BRMS now only contributed by dividends paid NNT. The last name is unknown grandson BRMS business, with ownership indirectly over 18% stake in PT Multi Region Compete (MDB).
In the first quarter-2012 NNT is capable of producing 43 million lbs copper and 22,000 oz gold, dati total reserves of 8.4M lbs of copper and 7.9 million ounces of gold with 0.6% copper specification and 0.5 g / t gold.
"Meanwhile, other mining areas are still in the stages of greenfield. Addition, Law no. 4 of 2009 on the prohibition
raw ore exports could also be a stumbling block if there is no further processing, "he said.
The results of further analysis, Dawn claimed potential BRMS is able to be a positive catalyst shareholder, Bumi Resources. With EARTH has 87% of the total shares of the note, making BRMS revenue also consolidated into the financial statements EARTH.
"We did test the correlation of the two stocks in the past year, and as a result, stocks and BRMS EARTH positively correlated quite strongly with 0.833 correlation coefficient," he explained.
On Thursday, Vice President Investor Relations Bumi Resources Minerals Herwin Hidayat explained by SRK Consulting report, the Left Branch mine sites and river Mak has a total resource of 292 million tonnes of ore, with an average level of quality of 0.5% (copper) and 0:47 g / t (gold).
The area of the mine operated by PT Gorontalo Minerals, which is 80% owned by Bumi Resources Minerals and 20% owned by PT Antam Tbk (Antam).
source: detik.com
(WEP / dnl)
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