Asia Natural Resources Prepare Capex U.S. $ 5 Million

Indro Bagus SU - detikFinance


Finance- PT Asia Natural Resources Tbk (ASIA) allocates capital expenditure (capital expenditure / capex) of U.S. $ 5 million in 2009. The funds will be used to finance the activities of nickel mining PT Tekonindo, business takeovers children."This year ASIA capex budget of U.S. $ 5 million," said Director & Corporate Secretary ASIA, Stanislaus Say in press release, Friday (16/1/2009).

Stanislaus said Tekonindo PT is a subsidiary of the newly completed diakusisi and expected to start operating early in 2009-II semester. "ASIA recently acquired 65% shares Tekonindo, Tekonindo we hope will start operating early in the second semester of 2009 this," he said.

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 PT Tekonindo have a land area of exploration 3335 hectares (ha) in Kabaena Island, Southeast Sulawesi. Based on the results of test exploration, mine has a reserve nickel with 4.7 million tons of nickel content 1.39% of the exploration area of 37.2 ha, or approximately 1.11% of total exploration area permit.

Jakarta - PT Asia Natural Resources Tbk (ASIA) allocates capital expenditure (capital expenditure / capex) of U.S. $ 5 million in 2009. The funds will be used to finance the activities of nickel mining PT Tekonindo, business takeovers children.

"This year ASIA capex budget of U.S. $ 5 million," said Director & Corporate Secretary ASIA, Stanislaus Say in press release, Friday (16/1/2009).

Stanislaus said Tekonindo PT is a subsidiary of the newly completed diakusisi and expected to start operating early in 2009-II semester.
."ASIA recently acquired 65% shares Tekonindo, Tekonindo we hope will start operating early in the second semester of 2009 this," he said.

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. PT Tekonindo have a land area of exploration 3335 hectares (ha) in Kabaena Island, Southeast Sulawesi. Based on the results of test exploration, mine has a reserve nickel with 4.7 million tons of nickel content 1.39% of the exploration area of 37.2 ha, or approximately 1.11% of total exploration area permit.......

taken from the source: www.Detikfinance.com
 "For the financing Tekonindo will be implemented in accordance with the regulations, while mining activities that may be the acquisition or partnership with other mining," he said.

In addition, he also explains the main problems faced by company for several years, mainly related to the settlement of debts to Cargill the impact on the main operational activity stunt company.

"We have successfully reached agreement acquittance of U.S. $ 7.7 million was converted into 829,500,910 shares of restrukturiasi debt and has obtained approval by the shareholders on May 12 2008," he said.

With that agreement, said Stanislaus, since the quarter-II in 2008 the company back on commodity trading activities in accordance main areas of business. Until September 2008, from commodity trading activities of mine, a company has revenue of Rp 72.60 billion with net profit of Rp 2.20 billion.

"We have completed all the problems that cause doubt on our business performance, as do the BEI Suspensi
since 12 March 2006, "he said.