PT Merdeka Copper Gold

Primary ticker: IDX:MDKA
Stage of development:Exploration/Development/Production
Primary minerals: Gold, Silver, Copper
Project to promote: Tujuh Bukit, Wetar, Pani

Live financials

Merdeka Copper Gold was founded in 2012 and listed on the Jakarta Stock Exchange (JK:MDKA) during 2015.

The Tujuh Bukit asset was constructed in during 2016 and in its first 9 months of production in 2017 produced 141,468 at an AISC of US$ 425. Merdeka plans to produce 150,000 to 170,000 ounces of gold from Tujuh Bukit in 2018 at an AISC of US$ 550 to US$ 650 per ounce of gold. A PFS on a 1.9 billion tonne porphyry copper gold resource at Tujuh Bukit has also commenced.

During Q1 2018 Merdeka acquired a 85% interest in Finders which owns a 75% interest in the Wetar Copper Mine which is expected to produce 17,000 to 19,000 tonnes of copper in 2018, increasing to 22,000 to 24,000 tonnes in 2019.

Management Profile

David Fowler – Director & CFO

Mr. Fowler is CFO and a Director of Merdeka and CEO of Finders Resources Limited. He was worked in senior executive roles in Asia, Australia and South America.

What is your rationale for attending 121 Mining Investment?

Improve the profile of the company. The Company will likely raise equity in coming years to develop its pipeline of assets.

What recent news would you like to highlight to investors attending?

Merdeka has acquired a 66.7% interest in the Pani project which hosts a 2.37 million ounce Mineral Resource.

In-fill drilling has commenced on the Tujuh Bukit Porphyry with recent results including 162 m @ 1.2 g/t Au, .99% Cu and 176 ppm Mo and 176 meters at .78 g/t Au, .63% Cu, 165 mo.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Achieve production guidance at Tujuh Bukit for 2018 of 155,000 to 170,000 Oz Au.

Complete expansion of the Tujuh Bukit project from 4mt pa to 8 mt pa.

6 Months:

Increase production at Wetar Cu project from 18,000 tpa to 24,000 tpa.

Ramp up underground Porphyry drilling to 3,000 meters per month.

Transition to owner mining.

12 Months:

Expand Pani resource

Acheive production of 160,000 to 190,000 at Tujuh and 22,000 to 25,000 at Wetar.

Advance porphyry PFS

Exploration success at Wetar to extend mine life.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Increasing production of copper at wetar and extending mine life.

Completing successful PFS on large Tujuh Bukit porphyry project.

In a sentence, what do you think makes your company such a compelling investment?

Stong cashflow generation from two production assets
Significant growth profile with potential for further organic growth and acquistion.
Experienced management team
Reputable major indonesian shareholders which actively support the development of the group.