G-Resources reports higher Q3 gold, silver output from Martabe mine

By Ruli Setiawan

Hong Kong-listed G-Resources Group Limited said Thursday that gold output from its Martabe mine in North Sumatra during the third quarter of this year reached 75,132 ounces, yielding a total of 208,977 ounces year to date.

The third quarter gold output was 7 percent higher than the 70,212 ounces delivered by the company during the second quarter as reported by this portal previously.

Silver production reached 433,942 ounces, yielding a total of 1,060,645 ounces year to date, the company said in a statement. The third quarter silver output was also higher than 382,230 ounces made in the second quarter.

Gold and silver revenue received from sales of US$119.5 million.

Site operating costs for the quarter were again under budget as management continued to seek operating improvements across all activities. Cash costs to gold under the Gold Institute Standard (NAGIS) were $397/oz poured and all in sustaining costs under the World Gold Council guidelines were $668/oz sold.

Editing by Reiner Simanjuntak