JAKARTA - PT Archi Indonesia Tbk (ARCI) recorded a consolidated revenue of US$142.4mn for the first semester of 2021, an increase of 9% compared with US$130.1mn in the first semester of 2020. The increase was mainly driven by higher average gold selling price of US$1,802 per oz compared to US$1,656 per oz.
The Company’s net profit recorded increased by 24% to US$32.6mn. This increase was mainly driven by the 9% higher gold selling price average and 16% lower mining costs from US$3.35 per ton to US$2.83 per ton. Archi’s EBITDA for the first semester of 2021 also increased by 5% to US$75.5mn, compared to US$71.7mn in the first semester of 2020.
Archi’s President Director, Kenneth Ronald Kenney Crichton stated, “Archi’s earnings results in first semester of 2021 benefitted from higher gold price compared to the same period last year. We expect 2022 will be even better as our expanded gold processing plant achieves full efficiency and will directly result in higher gold production.”
Excitement came with the continuing success and promising exploration results from the exploration drilling in the high grade Bima gold deposit in Western Corridor, which is located approximately 15km west of the Toka Pit. With a recorded gold production at 81.6 koz in the first semester of 2021, the Company expects to achieve gold production of 138 koz – 148 koz in the second semester of 2021 (gold production in second semester of 2020 was 120 koz), bringing the total gold production to 220 koz – 230 koz for the full year 2021. (LM)