By Dominikus
PT Sumber Energi Jaya (SEJ) has announced its intention to sell 100% of its shares, including all associated assets, for a target price of US$200 million. The company may also consider selling nearly the entire stake, with the possibility of price adjustments based on ongoing negotiations. This disclosure was made on the Weixin Official account of the China-Northeast Asia Expo on March 25.
SEJ holds extensive gold mining concessions across Indonesia, including its Ratatotok and Ranoyapo prospects. The total concession area spans 1,959.84 hectares, with Ratatotok comprising 301.44 hectares of the total.
The company has made significant strides in its exploration efforts. SEJ's Ratatotok prospect, located in the Southeast of North Sulawesi, has undergone substantial drilling activities, particularly in the Leon and Yance blocks, where detailed exploration has been conducted since 2018. These efforts have helped define key mineral resources, with a total of 23.81 million tons estimated, containing over 1.2 million ounces of gold.
Further drilling at the Motoling and Touluaan areas has also uncovered substantial resources, with a total of 2.65 million tons containing over 200,000 ounces of gold. These promising results are part of SEJ’s larger strategy to enhance its mining operations and support the construction of a processing plant designed to increase production efficiency once completed.
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The SEJ operation benefits from well-established infrastructure, with mining areas accessible through existing roads, including those previously developed by Newmont in the region. The company’s mining methods are diverse, ranging from conventional cyanidation processes to more advanced heap-leach systems, designed to maximize recovery from oxide and sulfide ores.
With a focus on expanding its operations, SEJ plans to continue exploration efforts at Ranoyapo, where significant potential remains. The resources here could further boost the company’s standing in the Indonesian gold market.
SEJ is currently in discussions with potential buyers, including companies from China and Indonesia. The asking price for SEJ is set at $200 million, with an expectation that the mine’s value will significantly increase with the development of its processing plant. The company anticipates that the investment will be recouped within 3-4 years, driven by high recovery rates and a favorable operational cost structure.
For more information, prospective buyers are encouraged to contact the project representative, Riza Nisbach, via WhatsApp or email.
Contact: Riza Nisbach
Phone: +62 812-9581-0022 (WhatsApp)
Email: rizanisbach@gmail.com
Editing by Reiner Simanjuntak
