G-Resources revises 2015 production target
Tuesday, June 16 2015 - 08:46 AM WIB
Hong Kong-listed G-Resources Group Limited projects its full year 2015 production from the Martabe gold mine at 285,000 ounces of gold and 2.3 million ounces of silver with AISC (all-in sustaining costs) forecast in the range of US$ 600-$700/ounce sold.
The production projection is higher than the projection made in early this year, while the latest AISC forecast is lower than the previous one.
In January 2015, the company projected its production to reach 250,000 ounces of gold, 2.2 million ounces of silver and its AISC at $750-$850/ounce sold for this year.
Tim John Vincent Duffy, Executive General Manager at Martabe project told journalists during the recent visit to the Martabe gold mine that the revision was made in view of the result in the first quarter of 2015.
Duffy revealed that the first quarter 2015 result is the best quarterly result ever achieved by the Martabe mine. During the quarter, the firm booked a gold production of 84,220 ounces or 337,000 ounces annualized and a record silver production of 657,364 ounces or over 2.6 million ounces annualized.
Editing by Johannes Simbolon