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g-resources group ltd (1051) Details

G-Resources Group Limited, an investment holding company, explores and mines mineral properties, primarily gold. The company conducts its operations through Principal Investment Business and Mining Business segments. It also explores for silver, copper, and other mineral deposits. The company principally holds interest in the Martabe gold and silver mine located in North Sumatra, Indonesia. In addition, it is involved in operating fund management and general administration activities; and securities investment and trading business. G-Resources Group Limited also serves customers in Singapore and Hong Kong. The company was formerly known as Smart Rich Energy Finance (Holdings) Limited and changed its name to G-Resources Group Limited in June 2009. G-Resources Group Limited is headquartered in Wanchai, Hong Kong.

776 Employees
Last Reported Date: 09/25/15

g-resources group ltd (1051) Top Compensated Officers

Chairman, Acting Chief Executive Officer, Cha...
Total Annual Compensation: --
Vice Chairman, Member of Executive Committee,...
Total Annual Compensation: $601.0K
Deputy Chief Executive Officer, Executive Dir...
Total Annual Compensation: $437.0K
Executive Director and Member of Executive Co...
Total Annual Compensation: $273.0K
Company Secretary and Executive Director
Total Annual Compensation: $379.0K
Compensation as of Fiscal Year 2014.

g-resources group ltd (1051) Key Developments

G-Resources Group Limited Announces Operating Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Operating Guidance for the Fiscal 2016

G-Resources Group Limited announced operating results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported gold poured of 75,831 ounces, costs AISC of $493 per ounce sold, average gold price of $1,101 per ounce. Silver poured was 636,755 ounces, tonnes mined ore of 1,147,000, tonnes mined waste of 973,000, tonnes milled of 1,081,000, gold head grade of 2.75 g/t, silver head grade of 30.08 g/t, gold recovery of 79.9%, silver recovery of 61.8%. For the full year, the company reported gold poured of 302,449 ounces, costs AISC of $503 per ounce sold, average gold price of $1,161 per ounce. Silver poured was 2,534,486 ounces, tonnes mined ore of 4,478,000, tonnes mined waste of 7,011,000, tonnes milled of 4,220,000, gold head grade of 2.76 g/t, silver head grade of 28.68 g/t, gold recovery of 81.4%, silver recovery of 65.2%. In 2016, the company anticipates the Martabe gold and silver mine will produce 260,000 ounces of gold and approximately 2.3 million ounces of silver. When compared with the 2015 production, gold and silver ounces are lower due to forecast lower ore grades and recoveries in the preliminary budget for 2016. AISC, as calculated using the WGC Guidelines, are anticipated to be between $650 and $750 per ounce gold sold. Exploration expenditures are expected to be approximately $12 million. The operations team will be maintaining its focus on Martabe Improvement Programme. The company will update the cost and production guidance after reviewing the budget and its production in 2016 periodically.

G-Resources Group Limited Announces Exploration Results at G-Resources' Martabe Gold and Silver Mine in Indonesia

G-Resources Group Limited updated the market with recent exploration results at G-Resources' Martabe gold and silver mine in Indonesia. The company continues its successful exploration programme at the Martabe gold and silver mine in North Sumatra. Recent work has focused on drilling for high grade sulphide targets at Martabe, and on regional exploration targets over the Contract of Work. The Horas deposit is located approximately 3 km south east of the Purnama Pit and Martabe process plant, south of the Barani deposit. Drilling in 2011 discovered a high grade zone in the west, referred to as the Horas Barat prospect. This drilling was reported on 6 October 2011, 17 January 2012, 26 June 2012, and 2 November 2015.

G-Resources Group Limited to Update the Market with Recent Exploration Results At G-Resources Martabe Gold and Silver Mine in Indonesia

G-Resources continues its successful exploration programme at the Martabe gold and silver mine in North Sumatra. Recent work has focused on expanding the Mineral Resource Estimates at Martabe, and on regional exploration targets on the Contract of Work. Drilling has been conducted on extensions to known Resources at the Ramba Joring and Tor Uluala deposits. The key results from exploration work are: New Mineral Resource Estimates at Ramba Joring and Tor Uluala are in progress; Best results from the recent drilling to support the new estimates include: 45.5 metres @ 3.45 g/t gold, 49 g/t silver and 19.8 metres @ 2.13 g/t gold; High grade intersections at Horas West and Purnama are being targeted for a high grade refractory gold potential. Previously unreported, high grade results from Horas include: 4.5 metres @ 110.90 g/t gold, 19 g/t silver and 2.0 metres @ 10.70 g/t gold, 2 g/t silver; Regional exploration is ongoing at the Tani Hill, Golf Mike and Rantau Panjang areas; Surface exploration at Golf Mike 15 km south of the Martabe Mine has located previously unrecognized chalcopyrite within silica ­ actinolite ­ magnetite ­tourmaline - biotite altered rocks, this is potentially indicative of porphyry copper-gold mineralisation.

 

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