Microsoft Word - 2014_11_13 SUM Tembang Project Update Final.docx
ASX Announcement
13 November 2014
Tembang Project Update - Mobilisation Commences
Sumatra Copper & Gold plc (ASX: SUM) ("the Company") is pleased to announce that mobilisation of the construction team for its Tembang gold/silver project in Sumatra, Indonesia ("the Project") has commenced. Production is expected within 12 months of Project recommencement.
The Project will be constructed under a local engineering and procurement contract. A Project Manager and Construction Manager, each with significant project expertise in gold plant construction in developing countries, have been appointed.
Draw down of the Tranche 1 US$40 million, net of transaction costs and first year interest of US$3 million, of the Senior Secured Debt Facility with Nomura Singapore Limited ("Nomura") and Indonesia EximBank ("the Facility"), as detailed in the ASX Announcement of 22 October 2014, has been completed and warrants have been issued to Nomura in accordance with the terms of the Facility.
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For further information please contact:
Julian Ford
Managing Director
Sumatra Copper & Gold plc
+61 8 6298 6200
About Sumatra Copper & Gold
Sumatra Copper & Gold Plc (ASX:SUM) is an emerging gold and silver producer in southern Sumatra, Indonesia. The Company has a significant project portfolio encompassing greenfields exploration projects to brownfields, near-production opportunities. The Company's Tembang Gold Project is currently under construction and targeting production in Q4 of 2015. The 5-year LOM Project will ramp up to average annual production of 30,000oz gold and 345,000oz of silver with C1 cash costs of US$470/oz and AISC of US$745/oz net of silver credits.
Directors
Steve Robinson
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Jocelyn Waller
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Contact
Level 1, 5 Ord Street
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Registered Address
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Non-Executive Chairman
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Non-Executive Director
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West Perth 6005
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39 Parkside, Cambridge
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Julian Ford
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Gavin Caudle
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Western Australia
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United Kingdom CB1 1PN
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Managing Director & CEO
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Non-Executive Director
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T: +61 8 6298 6200
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Registered No. 5777015
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Adi Sjoekri
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E: [email protected]
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ASX Code: SUM
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Executive Director
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www.sumatracoppergold.com
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