A coal mining company listed on the main trading board of the Indonesia Stock Exchange (IDX) since July 1 1991, PT Resource Alam Indonesia Tbk (KKGI) carries out regular monthly reports on the results of its exploration in accordance with regulatory regulations.
Referring to the official KKGI statement quoted on Monday (9/10/2023), Agoes Soegiarto, Director of the company, said that his business entity PT Insani Baraperkasa had carried out in-depth exploration in the Handil Bakti Sub Block Area, South Purwajaya Sub Block and Separi Block.
Until September 2023, the Company has spent USD 2,285,279 (USD 2.28 Million) for its mining exploration activities.
Furthermore, in the future, geological mapping and land acquisition will be carried out for the Loajanan Block to determine potential mining sub-blocks.
Then the partial block is still being studied for drilling and the process of borrowing and using part of the block area.
"All blocks in PT Insani Baraperkasa's PKP2B for the production stage have received approval from the Minister of Energy and Mineral Resources (ESDM)," said Agoes.
In terms of performance, Resources Alam Indonesia (KKGI) managed to record net sales of USD 176.59 million until the first semester of 2023 or the period 30 June, meaning that performance managed to increase compared to the same period in 2022 of USD 109.93 million.
Meanwhile, net profit for the year attributable to owners of the parent entity was USD 27.38 million, up from net profit for the year of USD 19.97 million.
The company's performance report also noted that total liabilities reached USD 58.16 million for the period 30 June 2023, up from total liabilities reaching USD 47.25 million for the period 31 December 2022. KKGI also noted that total assets reached USD 204.14 million until the first semester of 2023.
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