International Antam Resources books H1 loss

International Antam Resources Ltd. (IARL), a subsidiary of PT. Aneka Tambang Tbk. announced on Tuesday that it had booked net loss of C$ $73,850 compared to a net loss of $207,118 for the six month period ended June 30, 2002. The company recorded positive cash flow from operations of $728,967 for the six month period ended June 30, 2003, compared to a negative cash flow of $492,384 for the six month period ended June 30, 2002.

The Company received revenue of $2,000,729 during the period from the sale of 120 kg (3,858 oz) of gold and 339 kg (10,899 oz) of silver from the Company's Cikidang mine compared to revenue of $2,343,198 from the sale of 141 kg (4,533 oz) of gold and 860 kg (27,650 oz) of silver in the six month period ended June 30, 2002.

The average sales price achieved by the Company during the three-month period was US $345 per ounce of gold and US $4.65 per ounce of silver sold compared to US $297 per ounce of gold and US $4.63 per ounce of silver for the comparable period in 2002. Net proceeds, after payment of operating and administration costs, were added to the Company's working capital.

During the six months ended June30, 2003, the Company produced 139.9 kg (4,497 oz) of gold (2002 - 133.4 kg (4,290 oz)) and 571.8 kg (18,385 oz) of silver (2002 - 660 kg (21,221 oz)) from its Cikidang mine in Java, Indonesia. The ore is mined under contract with Aneka Tambang and processed at its processing plant located at Cikotok in West Java. Refining is performed at Aneka Tambang's Logam Mulia refinery in East Jakarta.

IARL is listed in Canada?s TSX Venture Exchange.(alex)