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Minetech Resources Bhd is a Malaysia based company primarily engaged in the production of quarry products, civil engineering works, production of asphalt premix products and production of bituminous products. The products produced by the company are sold to developers or contractors in the property development or construction sectors. Majority of the revenue is generated from the Quarry products segment. Quarry products division includes extraction and the sale of granite quarry products. It offers civil and property construction services, such as blasting, roads and drainage, earthworks, and water reticulation and sewerage. The company’s quarries and premix manufacturing facilities are all located in Malaysia..


MINETECH has 43 years (since 1977) of drilling and blasting business sevices now the company wanted to expand their business into gold mining business due to attractive gold price , decades of quarry mining experience has brought them an opportunity to participate in gold mining. this lead to form a MOU with bornoil:
 
 
Borneo Oil Bhd (BornOil) inked a memorandum of understanding (MoU) with Minetech Resources Bhd (MRB) to carry out mining works at Bukit Ibam, Pahang.
Both companies, via their respective wholly-owned subsidiaries, Borneo Oil & Gas Corporation Sdn Bhd (BOG) and Minetech Construction Sdn Bhd (MCSB), will work together towards the materialisation of a business contract which will involve BOG appointing MCSB as the contractor for mining works at Bukit Ibam.
MCSB, which specialises in rock blasting, civil engineering, construction and infrastructure development, is also involved in the business of mining and has the prerequisite equipment, expertise and personnel with experience in mining works.
MCSB is also currently undertaking mining excavation works at Selinsing Gold Mine at Sungai Koyan Kuala Lipis, Pahang, according to separate announcements to Bursa Malaysia 
 
 
 
To note, MRB executive chairman Datuk Awang Daud Awang Putera also sits on the board of Serba Dinamik Holdings Bhd as a non-independent and non-executive director.
BornOil's Bursa Malaysia announcement stated the collaboration with MCSB will reduce BOG's capital outlay required for the mining works and free up resources to continue with exploration works on other zones.
It will also provide the parties an opportunity to collaborate in the field of mining and to utilise each respective party's experience and strength, the filing added.
Under the MoU, MCSB will among others provide the plant and equipment for the purpose of excavation and qualified personnel to implement blasting activity.
To recap, BornOil had made an announcement to Bursa Malaysia on 6 August 2020 that it intends to proceed with excavation and mining on the first Zone of Bukit Ibam in Pahang, where it is believed to contain total resources of 22,200 ounce or 621,917 gm of gold in 1.66 million metric tons of ore with an average grade of 0.42 g/t.
The findings were made by Dr Yves Cheze, a member of the Australian Institute of Geoscientists as well as the Institute Geology Malaysia.
Dr Yves had also recommended for BornOil to develop the exploration of not only the immediate extension of the first zone but also in seven other zones within the mining area that have similar geology as they may hold significant potential for additional gold resources.
Back in May 2010, Perbadanan Kemajuan Negeri Pahang (PKNP)
signed an exclusive agreement with HDL Global Sdn Bhd (HDL) for the prospecting and mining rights to an area covering 1,200 hectares within Hutan Simpan Bukit Ibam in Pahang.
Subsequently in March 2015, BornOil, via an exclusive production sharing agreement with HDL, was granted sole and exclusive right to prospect, explore, mine, extract, process, sell and collect all revenue of sales with respect to all minerals and precious metals including gold over the said area.
Currently, an area measuring approximately 462 acres within the area has been issued with a mining lease on which BornOil is currently carrying out mining works.
At the conclusion of Phase 1 and Phase 2 of the preliminary exploration works on seven of the eight zones, an assessment of potential gold resources dated March 2019 was prepared by Dr Yves showing potential gold resources of 60,032 ounce or 1,866,943 gm (1.866 ton) of gold.
Gold prices have been on the rise, and, for the first time, breached the US$2,000 an ounce mark last week.
 
On the other hand, Borneo Oil Bhd (BornOil) group is set to 'strike gold' with its Bukit Ibam mining venture as the company intends to proceed with excavation and mining on the first Zone of Bukit Ibam in Pahang.
BornOil in a filing to Bursa Malaysia  said the site is believed to contain total resources of 22,200 ounces or 621,917 grams of gold in 1.66 million metric tons of ore with an average grade of 0.42 g/t.
The findings was also affirmed by Dr Yves Cheze, a member of the Australian Institute of Geoscientists as well as the Institute Geology Malaysia.
Dr Yves has also recommended BornOil group to develop the exploration of not only the immediate extension of the first zone but also in several other zones in the mining area that have similar geology as they may hold significant potential for additional gold resources.
To recap, back in May 2010, an exclusive agreement had been inked between Perbadanan Kemajuan Negeri Pahang (PKNP) and HDL Global Sdn Bhd (HDL) for the prospecting and mining rights to an area covering 1,200 hectares within Hutan Simpan Bukit Ibam in Pahang.
Subsequently, in March 2015, BornOil via an exclusive production sharing agreement with HDL, was granted the sole and exclusive right to prospect, explore, mine, extract, process, sell and collect all revenue of sales with respect to all minerals and precious metals including gold over the said area.
Currently, an area measuring approximately 462 acres within the area has been issued with a mining lease on which the BornOil is currently carrying out mining works.
The mining area, in turn, is divided into eight zones on which the BornOil group has been conducting detailed exploration works.
At the conclusion of Phase 1 and Phase 2 of the preliminary exploration works on seven of the eight zones, an assessment of potential gold resources dated March 2019 was prepared by Dr Yves showing potential gold resources of 60,032 ounces or 1,866,943 gm (1.866 ton) of gold.
BornOil is also continuing with exploration works on the other seven zones at an interval of three to six months for each zone.
Gold prices have been on the rise, and, for the first time, breached the US$2,000 an ounce mark a few days ago.




 
 
Minetech Resources Bhd executive chairman Datuk Awang Daud Awang Putera raised his direct stake to 24.12% or 255.76 million shares.
 
 
Not only aggresive share purchase from Datuk Awang, we can see insider private placement bought 10% of total share at 0.281
 
PRICE NOW AT 0.285 which we think is extremely cheap especially we could bought is nearly at same cost with Dato Awang and Private placement  purchaser
comparing with other gold related counter such as tomei pohkong ,we gave target price of minetech :
TP1 RM1 

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