BRMS – USD500 mn syndicated loan signing

BRMS – USD500 mn syndicated loan signing Bumi Resource Minerals (BRMS) is preparing a USD500 mn syndicated loan, with a press release expected within 1–2 weeks. The proceeds will be allocated to: (1) USD120 mn refinancing of loans from Bank Mega; (2) USD200 mn to complete underground mine development in Palu and ramping up CIL1 capacity from 500 tpd to 2,000 tpd by 2H27; (3) USD100 mn for a major drilling campaign in Gorontalo to obtain resource data; and (4) USD50–80 mn to advance exploration programs in Banten and Aceh. In addition, BRMS maintains their FY25 gold production target of 68–71k oz and FY26 target of 80k oz after recording 56.5k oz gold production in 9M25 (+24.7% yoy). (Source : Company)