Agincourt appoints FS contractors for N. Sumatra gold project

Australian mining firm Agincourt Resoures Limited said on Friday it had selected a group of firms to undertake Definitive Feasibility Study (DFS) and Environmental Impact Assessment on its Martabe gold project in North Sumatra.

The firms are: Azure Capital ( project financing), RSG Global ( manage DFS and undertake resource modeling, mine planning and financial evaluations, GHD (geo-technical and hydrology), Intermet Engineering (metallurgy and process design) and Environmental Resources Management (environmetal study).

The company expected DFS and Environmental Impact Assessment o to be completed my the end of March 2007.

Agincourt earlier this month announced resource addition at Baskara and Purnama prospect to 5.8 million ounces of gold and 60 million ounces of silver. The company is planning to develop open pit mine in Baskara.

Managing Director Peter Bowler in July 2006 interview said that Martabe might be designed to produce 270,000 ounces of gold annually with production target of Dec 2008. (alex)