OPERATION:
Tin ore production volume by the end of June 2012 was 16,839 ton sn, while ore production from last year same period was 17,701 ton sn or 5% lower.
Refined tin production by the end of June 2012 is 14,984 mton or 19% decreased from refined tin production on first semester 2011 of 18,455 mton.
Refined tin sales on the first half 2012 is 17,236 mton, while sales from same period in 2011 was 17,457 mton.
Refined tin price average received by the company during the first half 2012 is US$ 22,565 which is 24% lower than the same period in 2011 of US$29,541. The highest refined tin price in LME on the first semester 2012 was US$ 25,650/mt and the lowest was US$ 18,375/mt with the average price of US$ 21,791/mt, or 25% lower than that on the same period in 2011 of US$ 29,337/mt.
Meanwhile, foreign exchange rate for period ended is Rp 9,480 per US dollar or 10% higher than
that of last year same period which was Rp 8,597 per US dollar.
Company seek to boost offshore mining production by modifying new type of dredge called Bucket Wheel Dredge (BWD) with better technology that able to mine deeper compare to our existing Bucket Line Dredge (BLD) in order to support company management strategic plan to go
offshore go deeper. One unit of BWD will be ready to support the offshore operation by August 2012.
Washing plant technology development is also implemented to enhance ore processing recovery to 99.5% in order to optimizing associated minerals that have higher added value such as monazite, zircone and ilminate.
FINANCIAL:
Company consolidation income on first semester 2012 is Rp 4,130 billion or 15% higher than the same period on 2011 of Rp4,830 billion. Gross profit and net income on first semester 2012 is Rp 790 billion and Rp 336 billion respectively. While gross profit and net income on first half 2011
was Rp 1,253 billion and Rp 689 billion respectively.
The company balance sheet for period ended of 30 June 2012, amount of total assets Rp 6,437 billion or 2% smaller, compared to the position on 31 December 2011 which was Rp 6,570 billion. Total Liabilities on 30 June 2012 is Rp 1,978 billion and the same value of debt on 31 December 2011 is Rp 1,972 billion.
ANNUAL GENERAL MEETING OF SHAREHOLDER:
On April 2012, the corporate conduct AGMS and one result on its decisions is the determination of devidend, 50% of the net profit or Rp 89.09 per share. Total cash dividends is Rp. 448,390,000,000.- paid in cash on 30 May 2012.
65% from the dividend of Rp. 291,453,500,000.- is paid to Republic of Indonesia government
and 35% is paid to public shareholder which is Rp. 156,936,500,000.-
AGMS also set a new company Directors and add one new post i.e. Directorate of Planning and
Business Development to support company strategic plan on expanding business
TINS SHARES [ tins ]:
On the first semester 2012, tin shares price fluctuated on the highest position at Rp 2,025 and the
lowest Rp 1,240 per share. On 30 June 2012 the closing price was Rp 1,380 pretty much decreased
compared to the opening price on 2 January 2012 of Rp 1,680.-
Tin ore production volume by the end of June 2012 was 16,839 ton sn, while ore production from last year same period was 17,701 ton sn or 5% lower.
Refined tin production by the end of June 2012 is 14,984 mton or 19% decreased from refined tin production on first semester 2011 of 18,455 mton.
Refined tin sales on the first half 2012 is 17,236 mton, while sales from same period in 2011 was 17,457 mton.
Refined tin price average received by the company during the first half 2012 is US$ 22,565 which is 24% lower than the same period in 2011 of US$29,541. The highest refined tin price in LME on the first semester 2012 was US$ 25,650/mt and the lowest was US$ 18,375/mt with the average price of US$ 21,791/mt, or 25% lower than that on the same period in 2011 of US$ 29,337/mt.
Meanwhile, foreign exchange rate for period ended is Rp 9,480 per US dollar or 10% higher than
that of last year same period which was Rp 8,597 per US dollar.
Company seek to boost offshore mining production by modifying new type of dredge called Bucket Wheel Dredge (BWD) with better technology that able to mine deeper compare to our existing Bucket Line Dredge (BLD) in order to support company management strategic plan to go
offshore go deeper. One unit of BWD will be ready to support the offshore operation by August 2012.
Washing plant technology development is also implemented to enhance ore processing recovery to 99.5% in order to optimizing associated minerals that have higher added value such as monazite, zircone and ilminate.
FINANCIAL:
Company consolidation income on first semester 2012 is Rp 4,130 billion or 15% higher than the same period on 2011 of Rp4,830 billion. Gross profit and net income on first semester 2012 is Rp 790 billion and Rp 336 billion respectively. While gross profit and net income on first half 2011
was Rp 1,253 billion and Rp 689 billion respectively.
The company balance sheet for period ended of 30 June 2012, amount of total assets Rp 6,437 billion or 2% smaller, compared to the position on 31 December 2011 which was Rp 6,570 billion. Total Liabilities on 30 June 2012 is Rp 1,978 billion and the same value of debt on 31 December 2011 is Rp 1,972 billion.
ANNUAL GENERAL MEETING OF SHAREHOLDER:
On April 2012, the corporate conduct AGMS and one result on its decisions is the determination of devidend, 50% of the net profit or Rp 89.09 per share. Total cash dividends is Rp. 448,390,000,000.- paid in cash on 30 May 2012.
65% from the dividend of Rp. 291,453,500,000.- is paid to Republic of Indonesia government
and 35% is paid to public shareholder which is Rp. 156,936,500,000.-
AGMS also set a new company Directors and add one new post i.e. Directorate of Planning and
Business Development to support company strategic plan on expanding business
TINS SHARES [ tins ]:
On the first semester 2012, tin shares price fluctuated on the highest position at Rp 2,025 and the
lowest Rp 1,240 per share. On 30 June 2012 the closing price was Rp 1,380 pretty much decreased
compared to the opening price on 2 January 2012 of Rp 1,680.-