JAKARTA - PT Bumi Resources Minerals Tbk (BRMS) plans to hold a rights issue by issuing 24 million Series B shares and 24.50 million Series II Warrants. The plan will be decided at the company's Extraordinary General Meeting of Shareholders (EGMS) on 11 November 2020.
According to the company's disclosure submitted to the Indonesia Stock Exchange, the proceeds from the rights issue would be used to support business development, settlement of bills, and as working capital for gold and silver mining projects operated by PT Citra Palu Minerals and PT Gorontalo Minerals.
The business development activities planned by BMRS is the construction of a gold and silver processing plant with a production capacity of 4,000 tons per day, mining support facilities, and exploration to find additional gold and silver ore reserves in Palu and Gorontalo. (LK/AR)