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.
How Can I purchase Nusantara shares?
Nusantara’s shares can be purchased through a licensed investment broker, or online trading platforms such as Commsec or NABTrade.
When did Nusantara list and how much did the company raise at IPO?
The company commenced trading on the ASX on Wednesday 2 August 2017, after raising $16.2 million at $0.42/share.
Cornerstone investors in the IPO included Lion Selection Group Limited ($4.5 million), AustralianSuper ($3.9 million) and a subsidiary of leading Hong Kong-listed gold producer Zhaojin Mining Industry Company Limited ($1.5 million, code HK: 1818).
Is Nusantara’s board personally invested in the company?
Martin Pyle, Non-Executive Director – 657,143 shares
Robin Widdup, Non-Executive Director – 474,303 shares
Mike Spreadborough, Managing Director & CEO – 180,000 shares
Boyke Abidin, Executive Director – 165,235 shares
Who are the company’s largest shareholders?
A list of the top 20 shareholders (updated 2 August 2017) can be found here.
Where is Nusantara’s project based?
Nusantara’s Awak Mas Project is located in Sulawesi, Indonesia..
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.
How much work has been completed at the Awak Mas Gold Project to date?
Awak Mas has had some 124km of drilling completed in over 1,000 holes. The project is currently 100%-owned in a 7th Generation Contract of Work with the Indonesian Government.
Environmental approval has been received for the project, which is favourably located in non-forestry land.
Is there any existing infrastructure near the project?
Yes, Awak Mas is located near established roads, ports and grid power. Nusantara recently signed a landmark MOU with State-owned power utility (PLN) for the future supply of grid power to the Awak Mas Gold Project (“Project”). The PLN has recently completed major upgrade of grid power supply in Southern Sulawesi providing high voltage power to within 35Km of the Project. The supply of low cost grid power to the Project is a major development leading up to the commencement of the DFS.
What is the company’s strategy to progress Awak Mas?
Nusantara’s development plan, based on previous comprehensive mining, metallurgical and infrastructure work is for a large-scale (2.5Mtpa), low strip ratio open pit operation with ore to be processed by conventional flotation and cyanide leaching.
The second strategy of the company is to grow the resource base and sustain a mining operation beyond the initial targeted life of 10 years. A new geological model has been developed with multiple drill-ready targets already outlined extending from the three deposits and other areas within the approximately 14,000 ha Contract of Work, where trench results and drill intersections from previous explorers require follow-up.
An 8,000m drilling program is currently underway.