BRMS – Higher production capacity from its second gold plant in Palu

BRMS – Higher production capacity from its second gold plant in Palu Bumi Resources (BRMS) has completed a project to increase the production capacity of its second gold plant in Palu, Central Sulawesi in 2023. Note that, BRMS posted a gold production volume of 16,437 oz in 9M23. BRMS processed approximately 2,400 tonnes of ore per day in 3Q23, higher than the 1,000 tonnes of ore per day in 1H23. With the increase in production, BRMS predicts the production capacity of the second gold plant in Palu to increase to 3,000-4,000 tons of ore per day in 2024. BRMS also discovered additional mineral resources and reserves in Block 1 (Poboya), Palu, Central Sulawesi from the River Reef prospect, Hill Reef 1 prospect and a new prospect in Watuputih (west of the River Reef). The discovery has increased the total mineral resources of BRMS's subsidiary, Citra Palu Minerals (CPM), by 50% to 42.7 mn tons with an average gold content of 2.6g/t. The number of mineral reserves managed by CPM also increased by 38% to 31.5 mn tons with an average gold content of 2.4g/t. This year, BRMS targets its total production volume to reach 35 thousand oz (+40% yoy). (Source: Investor Daily)