AMMN – A IDR97.6 bn exploration costs in 4Q23

AMMN – A IDR97.6 bn exploration costs in 4Q23 Amman Mineral International (AMMN) spent IDR97.6 bn for exploration in 4Q23, which executed by one of its subsidiaries, Amman Mineral Nusa Tenggara. The exploration was carried out in IUPK Block I, II and III located in Sumbawa. First, AMMN spent USD3.12 mn for Batu Hijau Block I exploration; pit resource drilling, and core sample test. This resulted in 29 boreholes with a total of 12,507.6 m. Second, spent USD2.68 mn for Elang Block II exploration; drilling and geological mapping, which resulted in 21 boreholes with a total of 3,688.8 m. Lastly, spent USD0.46 mn for Block III exploration, which resulted in 2 boreholes with a total of 699.9 m. Note that, all drilling and exploration activities will continue in 1Q24. (Source: Bisnis Indonesia)