Interra Resources Limited Announces Strategic Investment in PT Mitra Investindo Tbk Through Private Placement

Singapore, 10 November 2025 – Interra Resources Limited (Interra), a Singapore-listed company focused on petroleum exploration and production, has announced a significant strategic move through a long-term investment in PT Mitra Investindo Tbk (MITI), an Indonesia Stock Exchange-listed logistics and mining enterprise. The investment, carried out via a private placement, aligns Interra’s strategy for diversification and deeper involvement in the silica sand mining and renewable energy sectors.

Key Highlights of the Transaction

• Subscription Details: Interra, via its fully owned subsidiary PT Sumber Sari Rejeki (SSR), has entered into a share subscription agreement to acquire 55,944,100 new shares of MITI at a price of Rp. 286 per share. The total investment amounts to Rp. 16,000,012,600 (approximately US\$0.96 million).
• Shareholding Impact: The newly subscribed shares will constitute 1.49% of MITI’s enlarged share capital post-placement.
• Valuation Method: The subscription price was set at 90% of MITI’s average closing price over the 25 trading days preceding the share listing application.
• Use of Proceeds: Funds from the placement will be used by MITI to develop its silica sand mining operations and downstream silica industry in West Kalimantan, Indonesia.
• Lock-up Period: The subscribed shares are subject to an 18-month lock-up from the effective listing date, or until the listing of future rights issue shares, whichever is earlier.
• Strategic Rationale: This investment strengthens Interra’s exposure to the silica project in West Kalimantan and aligns with its joint venture and loan agreements signed on 1 July 2025 with NBS and MITI.
• Funding Source: The acquisition is fully funded by Interra’s internal cash resources.

Details for Investors and Shareholders

• MITI’s Business Focus: MITI is a logistics company with shipping, stevedoring, and ship agency services and is expanding into the renewable energy sector, especially solar panels and silica sand mining. It owns three silica mining concessions through NBS in West Kalimantan and is developing a silica-based industrial park in partnership with Interra.
• Transaction Classification: The transaction is classified as a “discloseable transaction” under SGX rules, based on aggregate consideration relative to Interra’s market capitalisation (5.49% for this transaction, 14.91% when aggregated with recent related deals). It does not require shareholder approval.
• Financial Impact:
  • No change to Net Tangible Assets (NTA) or Earnings Per Share (EPS) for FY2024. Both metrics remain unchanged post-transaction (NTA per share at 5.67 US cents, EPS at 0.66 US cents).
  • The investment is not expected to result in material expenses.
• Potential Price Sensitivity: The transaction signals Interra’s strategic intent to diversify beyond traditional petroleum E&P into high-growth sectors like silica mining and renewables, which could positively influence investor sentiment and share valuation. The 18-month lock-up on MITI shares also demonstrates commitment to a long-term partnership and could impact liquidity and future capital gains.
• No Related Party Concerns: None of Interra’s directors or substantial shareholders has any interest, direct or indirect, in this transaction, other than through their holdings in Interra itself. No new board appointments or directors’ service contracts are planned as a result of this investment.
• Alignment with Broader Strategy: Interra is expanding into renewable energy and has options to acquire up to 51% equity in certain silica sand concessions. The company is also on the approved partner list for power plant developments in Indonesia, and holds a 12.24% stake in Morella Corporation Limited, an ASX-listed resource developer focused on critical minerals in Australia and the USA.

What Investors Should Watch

• Interra’s increased involvement in silica mining and renewable energy could lead to future positive catalysts, such as new project announcements, expansion of mining output, or additional equity stakes in high-growth areas.
• The long-term lock-up and use of internal funds indicate strong management confidence.
• Any further aggregation of transactions with MITI or NBS could push relative figures higher and trigger new disclosure requirements or shareholder approvals, so investors should monitor for future deals and JV developments.
• The performance of MITI and the progress of the West Kalimantan silica project are key variables that may impact Interra’s future financials and share price.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult financial advisors before making investment decisions. All information is based on company disclosures as of 10 November 2025. Interra Resources Limited and its affiliates do not guarantee the accuracy or completeness of the information provided.

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