HRUM still on track

11 May 2021

As we can see from the chart HRUM has a good chart and a strong fundamental as the company recorded 218,92% increase on Net Income for year 2020 (yoy).

Recently, HRUM has acquired 24,53% ownership of Nickle smelter company, PT Infei Metal Industry, through its subsidiary, PT Tanito Harum Nickel. In its announcement, CEO OF Harum Energy, Ray Antonio Gunara said, that the acquisition cost them US$ 68,6 Million or equal to IDR 967 billions as the currency exchange IDR14.098/ USD on 22 February 2021. The management predicted the company will fully operated in 2023.

Our projection for 2021, the coal sales of HRUM will increase by 5% as the coal price hits its high (96 USD/T) since the pandemic (February 2020) as May 11th, 2021. HRUM

18 May 2021

Not

On May 12, 2021, HRUM has increased its investment in Nickle Mines Ltd. to 6,73% from 4,7% for the year 2020.

Nickel Mines Ltd. has 60% of control in Hengjaya Nickle and Ranger Nickle Project. Both of them operate Rotary Kiln Electric Furnace factory that produces NPI in Indonesia Morowali Industrial Park.

List of 2021 Company Acquisition :

- PT Tanito Harum Nickel (subsidiary) --> 51% of PT Position(nickle mines) for US$ 80,32 billions.
- PT Tanito Harum Nickel (subsidiary) --> 24,5% of PT Infei Metal Industry, for US$ 68,6 billions.
- PT Harum Energy --> 2,03% of Nickle Mines Ltd for AUS$ 45,03 billions