J Resources first-half gold output reaches 99,000 oz

By Thomas Sembiring

IDX-listed gold mining firm PT J Resources Asia Pasific Tbk saw its gold output in the first-half of this year at 99,000 oz, or less than half of the full-year target of around 220,000 oz.

?Until June of this year, production has reached 99,000 ounces,? said Director William Surnata to petromindo.com on Monday, but did not provide comparative figure for corresponding period of last year.

He added that revenue in the January-June period of this year stood at US$120 million, while EBITDA margins at around 50 percent, and cash cost about US$580 per oz.

The company saw its average selling price in the first semester of this year increased to around $1,211 per oz, compared to $1,162 in the same period of last year.

William said that over the next five years, the company plans capital expenditure totaling $150 million, the bulk of which to be used for exploration activities to increase reserves and resources, as well as preparations to start production at the Pani gold mine hopefully next year.

Editing by Reiner Simanjuntak