J Resources: Gold output jumps 57%
Tuesday, April 7 2015 - 01:44 AM WIB
IDX-listed gold mining firm PT J Resources Asia Pasifik Tbk said Monday that gold output in the first quarter of this year increased by more than 57 percent to 66,000 troy ounces from 42,000 Oz in the corresponding period of last year.
The company said in a statement that revenue during the quarter rose to US$79.1 million from $57 million in the same three-month period of last year.
As reported by this portal late last year, J Resources aims to increase gold production to 225,000 Oz this year.
Gold production last year reached more than 220,000 ounces, more than doubled the 100,000 oz output in 2013.
The higher production had been anticipated as the newly operated Bakan mine in North Sulawesi and Seruyung mine in East Kalimantan have provided significant additional output. The company also operates producing gold mines in Penjom, Malaysia, and Bolaang Mongondow, North Sulawesi.
J Resources, through its subsidiary PT Puncak Emas Gorontalo (PEG), partners with local village cooperatives KUD Dharma Tani Marisa, is conducting explorations at the Gunung Pani gold concession in Pohuwatu Regency, Gorontalo Province. However, Australia?s One Asia Resources Ltd claimed it was the rightful partner of the KUD in developing the gold mine.
Editing by Reiner Simanjuntak