Nusantara Resources Limited announced that the Front End Engineering and Design Services (FEED) contract has been awarded for the 2.0Moz Awak Mas Gold Project (Project), Indonesia. The FEED contract is one of three critical path items in 2020, along with TSF design & permitting, and land access, and forms part of a USD 30 million Capital Works program budgeted for 2020. The 2020 Capital budget is part of the overall USD 162 million Capital required to put Awak Mas into production, as estimated in the 2018 DFS study. With respect to funding and as part of a joint venture arrangement, Indika Energy will contribute up to USD 40 million of earn-in equity funding. Subsidiary Petrosea will also provide up to USD 40 million in deferred payments, up to USD 15 million of this is provided for in this FEED contract, with the balance to be agreed in the future Engineering, Procurement and Construction contact. Over the course of 2020, the JV partners Nusantara and Indika will look to complete Project Debt Financing and move into a construction and commissioning phase in 2021.