Timah Tbk (TINS) reported exploration activities in Bangka Waters and Kundur waters carried out during the second quarter of 2024 or the April-June 2024 period.

TINS management in its statement quoted from information disclosure, Thursday (11/7), said that this exploration activity focused on tin commodities with a cost of IDR 38.70 billion with details for operational activities amounting to IDR 38.70 billion and investment costs of IDR 0.

Exploration activities at sea in that period included detailed drilling activities in Bangka Waters and Kundur Waters using 3 units of drill ships and 1 unit of pontoon and 4 units of drill ships with a drill meter toll of 7,767.80 meters.

Onshore exploration activities in Q2-2024 include geomagnetic survey mapping and tin drilling (primary and alluvial) and guide drilling in Bangka and Belitung Waters with a total drill meters of 636.25 meters.

Meanwhile, the plan for exploration activities in the third quarter of 2024 is to continue activities and evaluate the previous month's activities. 

Drilling activities at sea are planned using 5 drill ships allocated in Bangka and Kundur Waters while land activities for tin drilling (primary and alluvial) and guide drilling on Bangka and Belitung Islands.

The following exploration activities are geophysical ground magnetic surveys in the Penyamun area as well as bathymetric topographic surveys in the Dante sea and Permis sea and continuing topographic surveys in Bangka and Belitung.