One third of Nagaya (NGY) PCO Funds will be allocated to fund some prospective projects.
Nagaya Technologies Pte Ltd will receive monthly net profits from each of these projects and a portion of this contributes to the fund for purchasing 999.9 gold, which will be stored in the Nagaya's Gold Reserve.
MINERAL ORE PROCESSING
Located in Palu, Central Sulawesi, Indonesia, this plant has the capability to process multiple types of minerals ore, mainly gold and copper.
The fund will be used for equipments rejuvenation, as well as addition of production equipments to gradually raise its currently processing capacity of 100-200 tonnes of raw material per day (or 36,500 – 75,000 tonnes of raw material per year) to 600 tonnes per day.
Estimated funds required for its operation and upgrading of the processing facility is around US$ 6,000,000.
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