Primer: Merdeka Gold Resources (EMAS IJ) - Nov 2025
Merdeka Gold Resources (EMAS) represents a pure-play investment in a significant, long-life gold asset, following its successful IPO in...
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Merdeka Gold Resources (EMAS IJ): Indonesia’s Largest IPO of 2025
EMAS IJ's successful IPO raised $281m to fund Sulawesi's Pani Gold Project, with production expected to ramp up to 500 koz by 2032. Valuation at...
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Macro Strategy: Growth Over Differentials
Indonesia’s economy maintained solid momentum in 3Q25, recording 5.04% y-y (1.43% q-q) growth, although slightly easing from 2Q25’s 5.12%.
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