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JOHANES KOTJO INCREASES STAKE IN BLACKGOLD

 

  • Mining Veteran acquires additional interest in BlackGold through further purchase of shares from the open market
  • Mr Johanes Kotjo now holds 40,045,552, equivalent to a 4.3% shareholding in the Company

Singapore, 21 August 2017 – 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.”