Targeting coal mines, Samindo Resources (MYOH) has prepared US $ 100 million

KONTAN.CO.ID - JAKARTA. PT Samindo Resources Tbk (MYOH) is looking for opportunities to try out a business besides being a coal mining contractor. At present, the company is targeting a number of coal mines that meet their criteria by preparing funds of US $ 100 million for acquisitions.

Samindo Resources' Director of Operations and Development, Ahmad Saleh, said that he had long had plans to acquire coal mines.

So far, the issuer coded MYOH shares has conducted feasibility tests on several coal mines. "There have been field visits, physical checks, so there have been surveys," he said when met in Jakarta on Wednesday (26/6).

The criteria for the coal mine they are seeking is one that is already operating. In addition, Samindo Resources also targets mines with calorie coal production of more than 4,000 kcal per kg with reserves of at least 20 million tons of coal.

In terms of funding, he claimed to be ready for the acquisition agenda. Saleh added that there are many schemes in this acquisition plan. "It can be a full acquisition, take or own what percentage of shares," he added.

Regarding its location, it does not require mines located in Kalimantan, which is certainly the quality of the mine to be the main thing.
To plan to acquire the coal mine, Samindo Resources has prepared funds of US $ 100 million. Of which 50% will be obtained from internal cash and the remaining bank loans.

According to him, there are several obstacles in finding the wrong mine. One of them is currently not many coal mining companies will release their assets.

Even if there are, there are things that are not in accordance with the criteria of the mine they are seeking. Even so, the company hopes to be able to realize the plan to acquire this mine as soon as possible.