J Resources Asia Extends Deadline for Doup Gold Mine Sale

Conditional Sale Agreement Update

PT J Resources Asia Pasifik Tbk (PSAB), a prominent gold mining company, has announced an extension of the deadline for the sale of its Doup Gold Mine to PT Danusa Tambang Nusantara (DTN), a subsidiary of PT United Tractors Tbk (UNTR). The new deadline is set for March 23, 2026, representing a three-month extension from the original date of December 23, 2025.

Background of the Transaction

The sale is part of a Conditional Sales and Purchase Agreement (CSPA) signed on September 12, 2025, where PSAB agreed to sell its shares in PT Arafura Surya Alam (ASA), the entity operating the Doup Gold Mine, to DTN. The transaction involves the transfer of shares from PT J Resources Nusantara (JRN), a subsidiary of PSAB, to DTN.

Reasons for the Extension

According to the information disclosure made by PSAB to the Indonesia Stock Exchange (IDX), the extension is necessitated by the ongoing process of fulfilling the preliminary requirements as stipulated in the CSPA. The company's management stated that the parties involved have agreed to the extension to ensure the successful completion of the transaction.

Implications for PSAB and Stakeholders

This development indicates PSAB's commitment to completing the sale, which is likely to have significant implications for the company's financial and operational restructuring. The sale of the Doup Gold Mine is part of PSAB's strategic efforts to optimize its asset portfolio and focus on core operations. Stakeholders will be closely monitoring the progress of this transaction as it unfolds.