ANTAM Clarifies Regarding Rights Issue
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Jakarta, April 21st, 2010 – PT ANTAM Tbk (ASX - ATM; IDX - ANTM) makes this announcement with regards to news stories published earlier concerning ANTAM’s rights issue plan. ANTAM wishes to clarify that it has not planned to conduct rights issue to help finance the company’s growth projects. A rights issue is an alternate financing scheme for any public listed company, as well as bank loans and strategic partnership, to fund its growth.
ANTAM’s President Director, Alwin Syah Lubis said:
“Implementation of growth projects is key to augment shareholders value. We are adding value to our reserves by increasing processing activities.”
ANTAM and its international partners are currently focusing on the completion of the retender process of the Tayan Chemical Grade Alumina project. As well, ANTAM continues to discuss the completion of the joint venture agreement of the Mempawah Smelter Grade Alumina project with Hangzhou Jinjiang Group (HJG) of China.
ANTAM is also currently conducting commissioning phase of the Cibaliung gold mine with expected commercial operation in July 2010. ANTAM expects the Cibaliung gold mine will produce 500 kg in 2010 in addition to the gold production from the existing Pongkor gold mine.