Nusantara Resources Company Profile

Nusantara Resources

Company Exposure


Company Listing

Nusantara Resources

Stock Code


Company Overview

Nusantara Resources Limited listed on the Australian Securities Exchange in August 2017 raising A$16.2M. The company is focused on growing shareholder value by developing and operating gold projects within the Asia-Pacific region. Nusantara owns a 100% interest in the Awak Mas Gold Project located in the Luwu Regency of South Sulawesi Province, Indonesia.

Discovered in 1988, the Awak Mas Gold Project has had some 130 km of drilling with over 1,050 holes drilled and currently hosts an open pit Indicated and Inferred Resource of 38.4 Mt at 1.41 g/t Au for 1.74 Moz prepared in accordance with JORC 2012 (May 2017).

The Company is undertaking resource drilling which has the potential to significantly increase the resource inventory and in addition, exploration drilling is planned to test extensional and regional targets.

Historic mining, metallurgical and infrastructure test work and studies provides a solid foundation for the Definitive Feasibility Study which is planned to be completed by mid-2018 in advance of a final investment decision expected for mid-late 2018.

Live Financials

Latest Announcements

Share Price Performance


Martin Pyle – Chairman
Mike Spreadborough – Managing Director
Boyke Abidin – President Director Indonesia
Rob Hogarth – Non-Executive Director
Craig Smyth – Chief Financial Officer
Colin McMillan – General Manager Geology

Major Shareholders

Lion Manager Pty Ltd – 32%
AustralianSuper Pty Ltd – 10%
Macquarie Group Ltd. – 5%
Silver Pine Capital Ltd. (Zhaojin Mining)- 4%
Top 10 Shareholders – 66%

Projects Overview

  • 1.74 Moz Au Mineral Resource
  • 100% owned
  • Fast-track, low-cost and long-life operation
  • Resource expansion drilling and DFS underway
  • Exploration potential with significant value upside
  • Established infrastructure
  • New geology and resource model
  • Low-cost grid power
  • Whole of Ore CIL
  • Improved gold recovery: 90 – 94%
  • Project approvals in place
  • Exploration project underway
Low-Cost Operations Highlights

  • A low waste to ore ratio of about 3.5:1
  • Conventional open pit mining
  • An ability to achieve ~90% gold recovery at a coarse grind size
  • Simple metallurgical process
  • Access to low-cost power at ~ US$0.1 per KWh
  • Access to high-quality skills
Approvals In Place

  • 7th Generation (CoW) – allows 100% foreign ownership
  • Contract of Work CoW – 14,000 ha in non-forestry land
  • Environmental permit approved in April 2017
  • 3 year ‘Construction Phase’ awarded in June

Infrastructure Ready

  • Low-cost grid power: confirmed in August 2017
  • Established ports: Palopo and Belopa
  • Daily flights to Palopo from Makassar
  • Road: 40 km by paved and unpaved roads from Belopa
  • Makassar a large modern city as support base
Resource Upside Potential

Target: 7 Mt to 10 Mt at an estimated grade between 1.3 g/t Au to 1.5 g/t Au.

  • Resource expansion drilling in progress with resource target increase of 0.3 – 0.5 Moz
  • Focus on unclassified and Inferred mineralisation within or adjacent to US$1,400/oz resource shell
  • Phase 1 drilling programme of ~8,000m – 70% complete – Awak Mas, Salu Bulo, & Tarra deposits
  • Focus on known mineralisation areas within open pittable depths
  • Potential to increase resource given mineralisation within and adjacent to US$1400/oz shell
  • 16 regional high-grade trench and drill intercepts require follow up
  • Greenfields exploration on large unexplored areas in the Northern and Southern parts of CoW
    • East Corridor – Salu Bulo to Tarra – ‘walk-up’ targets at Kandeapi and Salu Kombong
    • Mine Corridor – Awak Mas to Salu Bulo – closest to planned processing plant

Contact Details



PHONE: +1-833-606-6271

[easy-social-share buttons=”facebook,twitter,google,linkedin,print,mail” counters=0 style=”icon” template=”clear-retina” nospace=”yes”]

Subscribe To The Assay Weekly Newsletter

Thank you for subscribing