1. Regarding the articles attached, describe the effects of these articles on ANTM's stock price!

2. Use the attached charts and determine the direction of the next ANTM stock development!

3. With the ANTM stock data below, determine the Total Return and Expected Return of ANTM shares

from the period 1 July 2019 1 October 2019!

4. Still related to no. 3, look for ANTM's Stock Risk by calculating the period

same.

FIRST ARTICLE

Gold prices are still holding below the level of US $ 1,500 per ounce troi on Tuesday (15/10).

Quoting Bloomberg, at 3:40 pm, the spot gold price was at the level of US$ 1,493.05 per troy ounce, down 0.01% compared to yesterday's close of US$ 1,493.21 per troy ounce.

Meanwhile, the price of gold futures for delivery in December 2019 was at US$ 1,496.50 per troi ounce or down 0.07% from the previous session of US$ 1,497.60.

Earlier, Asian stock markets moved higher on hopes that the UK could reach a Brexit deal before the scheduled date of October 31.

Officials from the UK and the European Union will meet at a summit on Thursday and Friday. Determines whether or not the UK is headed for a so-called no-deal Brexit.

SECOND ARTICLE

The Ministry of Environment and Forestry (KLHK) plans to release nickel slag waste from the category of hazardous and toxic materials (B3). Therefore, KLHK will soon issue a Ministerial Regulation (Permen) regarding the procedure for testing the exclusion characteristics of nickel slag waste.

Mining issuers also welcome this discourse, one of which is PT Aneka Tambang Tbk (ANTM, member of the Kompas100 index). To note, the issuer who resides on the Kompas100 Index has a ferronickel factory in Pomalaa, Southeast Sulawesi.

Also Read: Aneka Tambang (ANTM) supports the exclusion of nickel slag from the B3 list

Pls. Aneka Tambang SVP Corporate Secretary Dede Izudin said that his party fully supports this plan. In fact, ANTM has previously processed nickel slag waste into concrete construction materials.

"We process nickel slag into a concrete construction material which we call POTON or Pomalaa Beton," said Dede to Kontan.co.id, Wednesday (9/10).

This utilization is carried out because ANTM has obtained a permit from the Ministry of Environment and Forestry of the Republic of Indonesia No. SK.127/Menlhk/Setjen/PLB.3/2/2019 dated 11 February 2019.

Furthermore, Dede said that the nickel slag processing was used for three purposes. The first is to substitute raw materials for making paving blocks, bricks, and concrete.

The second use is as a raw material substitution for coarse aggregate for roadbase construction around the Nickel Mining Business Unit (UBP) mining site in Southeast Sulawesi.

The last use is as a raw material substitution for coarse aggregate for yardbase construction at the PLTU and ANTM Port locations.

Dede explained, in 2018 the Southeast Sulawesi Nickel UBP produced 1.023 million tons of nickel slag waste. "All of them are used as a substitute for coarse aggregate raw materials for roadbase and yardbase construction," explained Dede.

To note, as of the first semester of 2019, ANTM's nickel production has reached 4.79 million wet metric tons (wmt) or an increase of 27% compared to the same period in 2018 which was 3.77 million wmt.

Meanwhile, ANTM's capital expenditure (capex) absorption as of June 2019 was IDR 685.14 billion and most of it was allocated for development investment of IDR 612.8 billion.

These developments include the completion of the ferronickel plant in East Halmahera and the capacity development of the bauxite plant in West Kalimantan.

Finally, Dede emphasized that the nickel slag processing is 100% carried out by ANTM internally. "Antam does not cooperate with third parties," said Dede

ARTICLE THIRD

The International Monetary Fund (IMF) is increasingly pessimistic about the pace of world economic growth this year.

For the fourth time this year, the IMF cut its forecast for global economic growth. In its October 2019 World Economic Outlook (WEO) report, the IMF estimates that the global economy will only grow 3% by the end of 2019, lower than last July's projection of 3.2%.

In the report, IMF Chief Economist Gita Gopinath explained that the projected world economic growth of 3% is the lowest since the 2008-2009 financial crisis.

After slowing sharply in the last three quarters of 2018, the pace of global economic activity remains weak. The momentum of manufacturing activity in particular has weakened significantly to levels not seen since the global financial crisis," the IMF said in a report quoted by Kontan.co.id, Wednesday (16/10).

Rising trade and geopolitical tensions have made the future of world trade and international cooperation even more uncertain. The IMF assesses that this causes business confidence, investment decisions, and global trade to be increasingly depressed.

In addition, the slowdown was also caused by macroeconomic pressures in several emerging market countries, as well as structural factors such as low productivity growth and an aging demographic in developed countries.

The IMF said that accommodative monetary policies in various developed countries and emerging markets are currently supporting the economic outlook. Low inflationary pressures have enabled many central banks to anticipate the risk of a deeper downturn in economic growth and to support financial conditions.

"In our assessment, global economic growth could be 0.5% lower in 2019 and 2020 without any monetary stimulus," said Gita.

In 2020, the IMF projects that the global economy will grow better at 3.4%. But still, the projection is down 0.1% from the previous in July.

The economic growth of the developed countries is predicted to remain sluggish at the level of 1.7% next year. Meanwhile, the growth of the emerging market group increased at a higher rate of 4.6% in 2020.

Most of the drivers of economic growth in emerging markets next year will be economic recovery in a number of countries such as Turkey, Argentina and Iran. Also improving economies in countries such as Brazil, Mexico, India, Russia, and Saudi Arabia whose growth has slowed significantly this year.

To prevent a further economic slowdown, the IMF recommends policies that are expressly aimed at easing trade tensions and reviving multilateral cooperation.

Policies must also be able to support economic activity when needed. To strengthen resilience, policymakers must anticipate financial vulnerabilities that pose a risk to growth in the medium term.

The government must also make policies that encourage more inclusive growth. This inclusiveness is considered important to secure better economic prospects as a whole and should be the main goal of every country.

4 of 5 DHSG 9. 38 W rubrikant Stockbit ANTM MANUTEN 1 dobila 5 9 tely UIT ckbit ANTM Line Graph + MA25 + MA 50 Daily E ! 1 - ckbit M 18 1 4 Line Graph + EMA25 + EMASO OX MACD 14 Tgl ANTM 1 Apr 2019 10 Jun 2019 1 Jul 2019 940 780 850 1 Agu 2019 2 Sep 2019 1 Okt 2019 925 1170 955 4 of 5 DHSG 9. 38 W rubrikant Stockbit ANTM MANUTEN 1 dobila 5 9 tely UIT ckbit ANTM Line Graph + MA25 + MA 50 Daily E ! 1 - ckbit M 18 1 4 Line Graph + EMA25 + EMASO OX MACD 14 Tgl ANTM 1 Apr 2019 10 Jun 2019 1 Jul 2019 940 780 850 1 Agu 2019 2 Sep 2019 1 Okt 2019 925 1170 955