2015 Guidance

www.bayan.com.sg

Executive Summary

Total production is Budgeted to be in the range of 10.0 to 12.0 million

MT; coal sales is also budgeted to be in the range of 10 to 12 million
tonnes

Orders book at 8.9 million MT of contracted sales volume for 2015

76.4% on fixed price basis

ASP anticipated to be in the range of US$ 40.0-44.0 / MT based on the

benchmark reference price at US$ 56.2 / MT

Cash costs anticipated to be in the range of US$ 38-41/MT (include COGS,

Royalties, and SGA)

Capex is Budgeted to be in the range of US$ 50.0 to 80.0 million

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Overburden Removal Volume (OB)

Overburden Removal

(in million MT)

(million MT)

220.5

237.9

177.5

159.4
95.8
39.0-46.0

2010

2011

2012

2013

2014

Gunungbayan Pratamacoal - Block II

Perkasa Inakakerta
Teguh Sinar Abadi
Firman Ketaun Perkasa
Fajar Sakti Prima
Bara Tabang
Wahana Baratama Mining
Total

OB
2014
44.6
6.2
3.7
13.3
3.4
0.1
24.5

2015E
0.2 to 0.3
5.7 to 6.5
1.7 to 2.2
14.5 to 16
4 to 5
5.5 to 7
7.4 to 9

95.8

39 to 46

2015E

Quarterly Overburden Removal

(million MT)

10 12

1Q15E

10 12

2Q15E

10 11

3Q15E

Note : E stands for Estimated Figure

9 - 11

FY15 Overburden Removal volume

is Budgeted to decrease due to
lower strip ratios as a result of the
current market conditions

4Q15E
2
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Coal Production
Coal Production
(million MT)

15.6

(in million MT)

16.3
13.7
10.0 12.0

11.9
9.6

Gunungbayan Pratamacoal - Block II

Perkasa Inakakerta
Teguh Sinar Abadi
Firman Ketaun Perkasa
Fajar Sakti Prima
Bara Tabang
Wahana Baratama Mining
Total

2010

2011

2012

2013

2014

Coal Production
2014
2015E
2.5
0.05 to 0.07
0.8
0.9 to 1.18
0.5
0.25
1.7
1.6 to 2.0
1.9
2.0 to 2.5
4.3 to 5.0
2.1
0.9 to 1.0
9.6

10 to 12

2015E

Quarterly Coal Production

(million MT)

2.5 3.0

2.6 3.2

3.0 3.5

3Q15E

4Q15E

1.9 - 2.3

1Q15E

2Q15E

Note : E stands for Estimated Figure

FY15 Production Volume is

anticipated to increase primarily due
to the completion of the Tabang haul
road and subsequent ramp up in
production at Bara Tabang

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Weighted Average Strip Ratio (SR)

Weighted Average Strip Ratio
15.0

14.1

Weighted Average SR (:1)

14.6
11.6

10.0

3.0 4.0

2010

2011

2012

2013

2014

Gunungbayan Pratamacoal - Block II

Perkasa Inakakerta
Teguh Sinar Abadi
Firman Ketaun Perkasa
Fajar Sakti Prima
Bara Tabang
Wahana Baratama Mining
Total

Weighted Average SR
2014
2015E
17.5
3.0 to 4.0
7.3
6.0 to 7.0
7.5
6.8 to 7.5
7.6
8.5 to 9.5
1.9
1.8 to 2.6
1.0 to 1.5
11.9
8.0 to 8.7
10.0

3.0 to 4.0

2015E

Quarterly Weighted Average SR

4.4 5.4
3.7 4.2

1Q15E

2Q15E

Note : E stands for Estimated Figure

3.5 - 3.8

3Q15E

3.0 3.2

FY15 Weighted Average Strip Ratio

is Budgeted to go down primarily
due to increase in production at
Bara Tabang and its impact to the
weighted average SR

4Q15E
4
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Cash Costs
Average Cash Costs per MT(*)

Pertamina Diesel Oil Price(*)

(US$ / MT)

74.7

(US$ / liter)

78.1

63.1

70.6

64.9

1.1
38.0 to 41.0

2010

2011

2012

2013

2014

2015E

*(1) Average cash costs include barging, royalty, and SGA

(2) US$ is a convenience translation using the average quarterly exchange rate for the
quarter numbers
(3) E stands for Estimated figure

1.1

1.1
0.8

0.8

2010

2011

2012

2013

2014

0.5 0.7

2015E

* Published by Pertamina, including PBBKB and VAT

FY15 Average Cash Costs is anticipated to be in the region of US$ 38 to

41 / MT due to significant drop in the weighted average SR caused by
the increased production at BT

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Coal Sales
Geographic Distribution
2014

Coal Sales Volume

(million MT)

16.0

15.3

Others, 7%

14.7

12.8

12.0

Malaysia, 8%

10.0 12.0

Taiwan, 22%

China, 9%

Japan

Japan, 10%

2010

2011

2012

2013

2014

India, 20%

2015E

Philippines,
12%

Quarterly Coal Sales

Italy, 12%

(million MT)

2.0 2.5

2.2 2.7

1Q15E

2Q15E

2.8 3.3

3.0 3.5

3Q15E

4Q15E

Note : E stands for Estimated Figure

FY15 Budgeted Sales Volume is

in the range of 10 to 12 million
tonnes

6
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Average Selling Price (ASP)

Average Selling Price(*)
(US$ / MT)

97.4

88.2
77.9

76.2

68.8
40.0 44.0

2010

2011

2012

2013

2014

2015E

(1) ASP includes coal and non-coal sales

(2) US$ is a convenience translation using the average annual exchange rate
(3) E stands for Estimated Figure

FY15 ASP is anticipated to be in the region of US$ 40.0 to 44.0/ MT; reduction in
ASP is due to the expansion of Tabang

FY15 ASP assumes an average US$ 56.2 / MT FOB for bituminous benchmark coal
price @ 6,322 k/cal GAR
7
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Committed and Contracted Sales

8.9 million MT
23.6%

As at March 2015, committed

and contracted sales were 8.9
million MT with an average CV of
5,138 GAR kcal

2015 Fixed Price element at US$

52.55 / MT with an average CV
of 5,142 GAR kcal

76.4%

2015
Fixed Price
Floating Price

Note : December 2013

8
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Capital Expenditure
CAPEX
(US$ million)

FY15 Capital Expenditure is

Budgeted to be in the region of
US$50.0 to 80.0 million

Major capital projects undertaken

include the finalization of the coal
haul road and expansion of
crushing and barge loading
facilities at Senyiur for
Tabang/Pakar project

50.0-80.0

Estimated
(1) US$ is a convenience translation using the average
annual exchange rate

9
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Appendix
PT Perkasa Inakakerta

PIK

PT Teguh Sinarabadi

TSA

PT Firman Ketaun Perkasa

FKP

PT Wahana Baratama Mining

WBM

PT Fajar Sakti Prima

FSP

PT Bara Tabang

BT

PT Brian Anjat Sentosa

BAS

PT Tanur Jaya

TJ

PT Silau Kencana

SK

PT Orkida Makmur

OM

PT Tiwa Abadi

TA

PT Sumber Api

SA

PT Dermaga Energi

DE

PT Bara Sejati

BS

PT Apira Utama

AU

PT Cahaya Alam

CA

PT Mamahak Coal Mining

MCM

PT Bara Karsa Lestari

BKL

PT Mahakam Energi Lestari

MEL

PT Mahakam Bara Energi

MBE

PT Graha Panca Karsa

GPK

Tabang

Pakar

Mamahak

10
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Appendix
Kangaroo Resources Limited

KRL

PT Dermaga Perkasapratama

DPP

PT Indonesia Pratama

IP

PT Muji Lines

Muji

PT Bayan Energy

BE

PT Metalindo Prosestama

MP

PT Sumber Aset Utama

SAU

PT Bara Karsa Lestari

BKL

PT Karsa Optima Jaya

KOJ

11
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Disclaimer
This presentation contains forward-looking statements based on assumptions and forecasts made by PT. Bayan
Resources Tbk management. Statements that are not historical facts, including statements about our beliefs
and expectations, are forward-looking statements. These statements are based on current plans, estimates and
projections, and speak only as of the date they are made. We undertake no obligation to update any of them in
light of new information or future events.
These forward-looking statements involve inherent risks and are subject to a number of uncertainties, including
trends in demand and prices for coal generally and for our products in particular, the success of our mining
activities, both alone and with our partners, the changes in coal industry regulation, the availability of funds for
planned expansion efforts, as well as other factors. We caution you that these and a number of other known
and unknown risks, uncertainties and other factors could cause actual future results or outcomes to differ
materially from those expressed in any forward-looking statement.

12
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Thank You

For more information, please contact :

investor.relations@bayan.com.sg
13
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