PT Bumi Resources Minerals Tbk (BRMS) hopes to obtain funds of US$100 to US$110 million from the issuance of warrants in October this year to finance the exploration of gold and copper mines in Gorontalo.

Bumi Resources Minerals Director and Investor Relations Herwin Hidayat said, from the implementation of the rights issue last April, the company obtained funds of Rp1.6 trillion. Of the fund, around 90% is allocated for a gold factory in Palu, and only 10% will be used for the development of a copper and gold mine in Gorontalo.

"The company still has warrants which are part of the rights issue of 24.45 billion warrants. Of the warrants issuance, about 85% will be used for project development in Gorontalo, "Herwin said on Thursday (27/5).

With these funds, according to Herwin, his party hopes that Bumi Resources Minerals can explore gold and copper mines in Gorontalo. Currently, mines in Gorontalo have copper and gold resources of 400 million