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Johanes Kotjo Increases Stakes in BlackGold

Johanes Kotjo Increases Stakes in BlackGold
PR-Inside.com: 2017-08-21 14:29:17
SINGAPORE, Aug 21, 2017 - (ACN Newswire) - BlackGold Natural Resources Limited (the "Company", and together with its subsidiaries, the "Group" or "BlackGold") is pleased to announce that Mr Johanes Budisutrisno Kotjo ("Mr Johanes Kotjo"), a consultant and shareholder of the Group, had on 17 August 2017 purchased 300,000 shares in the Company (the "Purchase") from the open market.


"We have received immense support from Mr Johanes Kotjo, both from his role as a Consultant of the Group and recently as a shareholder," said Philip Rickard, the Chief Executive Officer of the BlackGold Group. "This additional acquisition of shares reflects Mr Johanes Kotjo's confidence in BlackGold, and we are very encouraged by this move."


The Purchase brought the number of shares directly owned by Mr Johanes Kotjo to a total of 40,045,552 shares. Mr Johanes Kotjo had recently acquired 39,511,654 ordinary shares in the Company through a share placement agreement which was completed in May 2017.


Commenting on the Purchase, Mr Johanes Kotjo added, "BlackGold has demonstrated positive developments through its recent announcements regarding its planned 2 x 300 megawatt project with China Huadian Engineering Co., Ltd on 12 June 2017 and, thereafter, the threefold increase in Coal Reserves on 10 August 2017. The Group has a relatively resilient business model and I am pleased to be furthering my investment in the Group through this accretive acquisition of additional interests."


About BlackGold (Bloomberg Ticker: BHR:SP)


The Group is an Indonesia-focused coal mining company targeting Indonesia's rapidly growing power plant industry. Through long term, fixed offtake agreements with its principal customers, the Group has a customer portfolio consisting of state-owned and independent power plants and factories.


The Group, through its local subsidiaries, has the rights to three coal concessions in Riau, Indonesia.


Currently, the Group, through its subsidiary PT Samantaka Batubara, has a coal concession for an area of 15,000 hectares, and has over 500 million tonnes of Coal Resources. (Resources and Reserves estimates reported in compliance with 2012 JORC Code). For more information, please visit www.blackgold-group.com.


Contact:

BlackGold Group

T: +65 6884 4418

E: investor.relations@blackgold-group.com


This press release has been prepared by BlackGold Natural Resources Limited (the "Company") and its contents have been reviewed by the Company's sponsor, SAC Advisors Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this press release.


This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made, or reports contained in this press release.


The contact person for the Sponsor is Mr. Sebastian Jones, Director, at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542, telephone: +65 6532 3829.


SAC Capital Private Limited is the parent Company of SAC Advisors Private Limited.

Press Information


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