EMAS Allocates IDR 143.75 Billion for New Asset Purchases
Sun 14 Jun 2026, 10:53 AM
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PT Merdeka Gold Resources Tbk (EMAS) has recently completed a major corporate action.
The mining company spent IDR 143.75 billion to acquire used heavy equipment assets. The capital expenditure transaction involved several affiliated entities under the Merdeka Group.
Merdeka Gold Resources Corporate Secretary Adi Adriansyah Sjoekri provided a detailed official explanation. He said the asset acquisition was fully executed through subsidiary PT Merdeka Mining Indonesia (MMI). The affiliated-party transaction became effective on June 10, 2026.
“The transaction between MMI and affiliated parties is expected to directly improve operational efficiency. This structured step is considered appropriate in conducting business activities effectively,” Adi said in an information disclosure document, as quoted on Sunday, June 14, 2026.
The asset sellers were PT Bumi Suksesindo (BSI) and PT Batutua Tembaga Raya (BTR). Both companies are affiliated entities of the EMAS-listed company. The internal transaction was deemed free of any conflict of interest.
The gross purchase value from each affiliated entity differed. MMI spent IDR 44.48 billion to acquire heavy equipment from BSI. Meanwhile, the value of the asset acquisition from BTR reached IDR 99.27 billion.
The assets acquired include used heavy equipment, industrial machinery, and additional spare parts. Management said all capital goods were purchased on an as-is basis without additional warranties. The consolidated assets will be fully utilized by MMI.
Adi emphasized that the asset transfer is intended to meet the operational requirements of the Pani Gold Project.
“The transaction was conducted fairly and in accordance with generally accepted business practices. This policy provides greater effectiveness compared with conducting transactions with external parties,” Adi said.
EMAS Shares Rise
News of the completion of the mining fleet expansion was immediately met with a positive response from the domestic stock market.
EMAS shares ended the week firmly in positive territory. The stock price increase occurred at the close of trading on Friday, June 12, 2026.
Trading data showed that the mining company's shares rose by 75 points. The gain was equivalent to a daily increase of 1.09%. EMAS shares closed at IDR 6,975 per share.
Trading in EMAS shares remained relatively volatile throughout the session. The stock opened at IDR 7,050 and at one point climbed to an intraday high of IDR 7,150 per share.
Despite the gains, selling pressure briefly pushed the stock lower. The intraday low was recorded at IDR 6,875. On a cumulative basis, the average transaction price stood at IDR 6,980 per share.
Trading activity in EMAS shares was highly liquid and attracted strong investor interest. The stock changed hands 14,080 times during the session. Total trading volume reached 280,500 lots.
Strong market enthusiasm was also reflected in the total value of transactions. The stock recorded a transaction value of IDR 195.79 billion. The statistics underscored the strong appeal of the mining company's fundamentals among investors.
Although the stock closed higher, foreign investors adopted a net-selling strategy. Exchange data showed that foreign investors recorded gross sales of IDR 85.25 billion. Meanwhile, total gross purchases by foreign investors amounted to only IDR 55.72 billion.
The gap ultimately resulted in net foreign selling during the session. Net foreign outflows from EMAS shares reached IDR 29.52 billion.
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