G-Resources gets Income 98.5 Million U.S. Dollars

JAKARTA – G-Resource, the mining company that manages the Martabe Gold Mine in the District of Batang Toru, North Sumatra province, the company posted revenue during the second quarter of 2013 amounted to 98.5 million U.S. dollars.

Acquisition performance was bolstered by gold and silver production. President Director of G-Resources Martabe Gold Mine, Peter Albert, in a press statement on Wednesday (31/07/2013), said the company was able to produce above nameplate capacity targets guide the design and revise the company this year.

It shows a variety of operational efficiencies achieved since we began trial production in just 12 months.

“We are proud of the achievement of high performance and dedication of our team during this first year. We will continue to develop Martabe move into one of the leading gold mining in Asia, “he said.

Senior Manager Corporate Communications G-Resource Katarina Hardono, said G-Resource production in the second quarter to reach full operating life of 70 212 ounces of gold and 382,320 ounces of silver.

Catherine explains, benchmark expenditures under budget and will continue to be lowered. Operating cash costs decreased to U.S. $ 510 per ounce during the quarter, due to mining activities and ore treatment plant has exceeded the production target.

Along with a significant increase in production from the previous quarter, the company revised its production target gold guide that will be produced in the year 2013 to 280,000 ounces, exceeding the previous target of 250,000 ounces.

“One year marked the first gold pouring commemorated on July 24, 2013 ago,” he said.

Since the trial began production on July 24, 2012, Martabe Gold Mine has produced over 200,000 ounces of gold and nearly 1 million ounces of silver, so far beyond expectations.

Income earned from the sale of G-Resources gold and silver during the second quarter reached 98.5 million U.S. dollars.

Martabe Gold Mine is located on the west side of the island of Sumatra, District of Batang Toru, North Sumatra Province, with an area of ​​1,639 square kilometers, below the sixth generation Contract of Work signed in April 1997.

Martabe Gold Mine now has a resource of 8.05 million oz of gold and 77 million oz of silver and is targeted to start production in early 2013, with an annual capacity of 250,000 oz gold and 2-3 million oz of silver lower cost.

Shareholders Martabe Gold Mine is G-Resources Group Ltd by 95 percent, and 5 percent other stake holders is PT Artha Nugraha Agung, which is 70 percent owned by the Government of South Tapanuli and 30 percent owned by the Provincial Government of North Sumatra.