BRMS - Aims for 2024 gold boost, expands reserves

BRMS - Aims for 2024 gold boost, expands reserves Bumi Resources Minerals (BRMS) is optimistic about boosting operational performance in 2024, targeting over 50K oz of gold from open-pit mining with grades of 1-2 g/t. Production is set to increase further by 2027 with underground mining, offering higher grades of 3-4 g/t. Recent exploration at Poboya’s Block 1 revealed 40M tons of ore with an average gold grade of 3.5 g/t, mainly from underground sources at 4.9 g/t. Additionally, BRMS’s Gorontalo copper project holds 105M tons of reserves with grades of 0.5-0.7%. (Source : Kontan) Comment : BRMS’s production strategy, combining short-term output gains with high-grade reserves and diversified projects, strengthens its long-term growth outlook. The recent share price surge of +5.11% DoD and +83.44% over three months reflects positive sentiment from rising gold prices and a broader mining sector boost, catalyzed by China’s economic stimulus measures. This environment, alongside BRMS’s strong asset base, enhances its position for sustained growth.