27 August 2026, PT Merdeka Gold Resources Tbk (“Merdeka Gold” or the “Company”; IDX: EMAS; HKEX: 6228), the owner and operator of the Pani Gold Mine, reported a sharp enhancement in its first-half monetary efficiency, as the ramp-up of the Pani Gold Mine started to equate into more powerful income and favorable EBITDA.
Income increased to US$ 28.2 million in 2Q26 from US$ 2.6 million in 1Q26, showing greater gold sales volume as mining, processing and sales activities at Pani Gold Mine continued to increase.
For the very first half of 2026, Merdeka Gold scheduled income of US$ 30.9 million, compared to US$ 83,786 in the very same duration in 2015, as the Pani Gold Mine started producing significant gold sales.
Gold production increased more than eightfold quarter-on-quarter to 15,594 ounces in 2Q26, bringing first-half production to 17,412 ounces. Gold sales likewise increased greatly to 6,439 ounces in 2Q26, compared to 516 ounces in 1Q26.
The more powerful sales contribution raised Merdeka Gold’s operating efficiency, with gross margin reaching 44% and EBITDA reaching US$ 17.0 million in the very first half of 2026.
Mr. Boyke P. Abidin, President Director of PT Merdeka Gold Resources Tbkstated, “Merdeka Gold’s first-half efficiency reveals that Pani is starting to contribute meaningfully to the Company’s monetary outcomes. Following the strong ramp-up of the load leach operation throughout the 2nd quarter, production is anticipated to be considerably weighted towards the 2nd half of 2026 as mining rates, stacking volumes and gold healings continue to enhance. Our focus stays on speeding up production, enhancing operating efficiency and performing the next stage of development with discipline.”
Beyond the near-term production ramp-up, Merdeka Gold is advancing the next stage of development at the Pani Gold Mine through the advancement of its Carbon-in-Leach (“CIL”) task. The CIL pad for the CIL tanks and pre-leach thickener was finished by the end of June, with the general CIL pad set up for conclusion by the end of December 2026. The CIL center is anticipated to come on stream in 2028, reinforcing Pani’s long-lasting production development profile.
With the Pani Gold Mine now creating significant profits and favorable EBITDA, Merdeka Gold gets in the 2nd half of 2026 with more powerful operating momentum. Production is anticipated to increase considerably as mining rates, stacking volumes and gold healings continue to enhance, supporting greater sales volumes and more powerful operating efficiency. At the very same time, continued development on the CIL task will lay the structure for the next stage of Pani’s development.
About PT Merdeka Gold Resources Tbk
PT Merdeka Gold Resources Tbk (“Merdeka Gold”; IDX: EMAS; HKEX: 6228) is an Indonesian gold mining business majority-owned by PT Merdeka Copper Gold Tbk (IDX: MDKA). The Company was noted on the Indonesia Stock Exchange in September 2025 as part of the Group’s method to enhance its capital structure and boost openness.
Merdeka Gold’s main possession is the Pani Gold Mine in Gorontalo, Indonesia, among the biggest main gold advancement jobs in the nation, with mineral resources of 7.0 million ounces of gold and an approximated mine life of roughly 15 years.
Production is supported by a Heap Leach center with a preliminary capability of 8 million tonnes per year. The Pani Gold Mine started preliminary mining activities in October 2025, accomplished very first gold production in February 2026, and finished its very first gold sales in March 2026.
The Company likewise prepares to establish a Carbon-in-Leach center, targeted to begin operations in 2028 and scale as much as a capability of 12 million tonnes per year by 2029, making it possible for peak production of around 545,000 ounces of gold each year by 2031.
Disclaimer
This file: (i) is for details functions, (ii) might or might not include particular “positive declarations”, (iii) does not make up or form part of any sell or membership of or solicitation or invite of any deal to purchase or subscribe for, or offer any securities of PT Merdeka Gold Resources Tbk (“EMAS” or the “Company”) and its subsidiaries (together described as “EMAS Group”) or to participate in any deal under Indonesia Capital Markets Law or any other dominating laws in any jurisdiction. All declarations, besides declarations of historic truth, which resolve activities, occasions, or advancements that EMAS Group think, anticipate, or prepare for will or might take place in the future, are positive declarations. Positive declarations are typically, however not constantly, recognized by the usage of words such as “look for”, “expect”, “think”, “strategy”, “quote”, “targeting”, “anticipate”, “job”, and “plan” and declarations that an occasion or result “might”, “will”, “can”, “need to”, “might”, or “may” take place or be attained and other comparable expressions consisting of the unfavorable of those terms or other equivalent terms. These positive declarations, consisting of however not restricted to those with regard to allowing and advancement schedules, mineral grades, metallurgical healings, and prospective production, show the present internal forecasts, expectations, or beliefs of EMAS Group based upon details presently readily available to EMAS Group. Declarations in this file that are positive and include many dangers and unpredictabilities that might trigger real outcomes to vary materially from anticipated outcomes are based upon EMAS Group’s present beliefs and presumptions relating to lots of aspects impacting its company (consisting of impact the result and monetary results of the strategies and occasions explained herein); declarations in files are supplied to permit possible financiers and/or the reader comprehend EMAS Group management’s viewpoints in regard of future. There can be no guarantee that (i) EMAS Group have actually properly determined or recognized all the elements impacting its service or the level of their most likely effect, (ii) the openly readily available info with regard to these aspects on which EMAS Group’s analysis is total and/or precise, and/or proper and/or (iii) EMAS Group’s technique, which is based in part on this analysis, will succeed. EMAS Group specifically carries out no commitment to upgrade and/or modify any such positive declarations if situations or EMAS Group management’s quotes or viewpoints must alter other than as needed by relevant laws. The reader is warned not to put excessive reliance on positive declarations and additional warns on capital market trading.
No Representation, Warranty or Liability
Whilst it is supplied in great faith, no representation or service warranty is made by EMAS and/or any of its affiliates, its consultants, experts, representatives, workers, or any of its authorised agents regarding the precision, efficiency, currency, or reasonableness of the details in this file and/or supplied in connection with it, consisting of the precision or attainability of any positive declarations set out in this file. EMAS Group does decline any obligation to notify you and/or upgrade of any matter emerging and/or concerning EMAS Group’s notification after the date of this file which might impact any matter described in this file. Any liability of EMAS Group and/or any of its affiliates, specialists, representatives, staff members, or any of its authorised agents to you or to any other individual or entity developing out of this file pursuant to any appropriate law is, to the optimum level allowed by law, specifically disclaimed and left out. This file is not ensure of future efficiency, and unnecessary reliance ought to not be put on them as they include recognized and unidentified threats and unpredictabilities, which might trigger real efficiency and monetary lead to future durations to vary considerably from any forecasts of future efficiency and/or result revealed and/or suggested by such positive file.
Subject: Press release summary