April 2019, Samindo's Volume Overburden Removal (MYOH) Grows 1.6 Percent

JAKARTA - The volume of overburden removal from the issuer of mining contractor services, PT Samindo Resources Tbk., Grew 1.6% on an annual basis in April 2019.

Samindo Resources Investor Relations Manager Ahmad Zaki Natsir said the company realized a volume of overburden removal (OB) of 16.8 million bank cubic meters (bcm) per April 2019. The realization was up 1.6% compared to the same period last year.

Meanwhile, the realization of production or coal getting company was 4.1 million tons until April 2019. The achievement was up 45.6% from April 2018.

"Coal is getting high because last year's coal remains have not been transported. So, at the beginning of 2019, there was a lot of exposure in the mine, "he told Bisnis.com, Monday (5/27/2019).

Ahmad said that currently the company is still in a number of approaches to get new mining services contracts. According to him, there are several requests that go to the company to become contractors, one of which is in Jambi.

"For the time being, we are still trying to focus on getting a new contract first, related to the volume issue we are adjusting to the client's request," he explained.

The issuer coded as MYOH shares eyeing OB volume of 58.1 million bcm in 2019. Meanwhile, coal production is targeted at 10.8 million tons this year.

This year, MYOH is eyeing revenues of US $ 280 million. The target is up 16.13% from the realization of US $ 241.11 million in 2018.