G-RESOURCES GROUP LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
國 際資 源集 團有限 公司 *
(Incorporated in Bermuda with limited liability)
(Stock Code: 1051)PRODUCTION HIGHLIGHTS
Gold Poured, ounce | |
Full Year | 302,449 |
Q3 2015 | 70,302 |
Q4 2015 | 75,831 |
Costs AISC, $/ounce sold Full Year 503
Q3 2015 520
Q4 2015 493
Average Gold Price, $/ounce Full Year 1,161
Q3 2015 1,126
Q4 2015 1,101
G-Resources Group Limited (HKSE: 1051 - "G-Resources" or the "Company") is pleased to update the market with performance at G-Resources Martabe gold and silver mine in Indonesia for the fourth quarter of 2015 and for the full year 2015.Martabe has achieved another excellent performance in the fourth quarter of 2015. The process plant milled 1,081,000 tonnes of ore at 2.75 g/t head grade, yielding gold production of 75,831 ounces. In the fourth quarter, silver poured was 636,755 ounces.
As a consequence of the good production and continued focus on the Martabe Improvement Programme, the All-In Sustaining Costs ("AISC") for the fourth quarter were
$493 per ounce gold sold. Martabe mine has exceeded our annual production target as stated in the previous announcement. In 2015, Martabe milled 4,220,000 tonnes of ore and poured 302,449 ounces of gold and 2,534,486 ounces of silver respectively at AISC of
$503 per ounce gold sold. The processing plant annual throughput of 4.2 million tonnes is a record year for Martabe.
- 75,831 ounces of gold poured, yielding a total of 302,449 ounces for the full year.
- 636,755 ounces of silver poured, yielding a total of 2,534,486 ounces for the full year.
- Gold and silver revenue received from sales of $98.0 million for the quarter and $391.5 million for the full year.
- Site operating costs for the quarter were well under budget as a result of the continued focus on the Martabe Improvement Programme, and favourable energy costs. AISC under the World Gold Council ("WGC") guidelines were $493 per ounce gold sold for the quarter and $503 per ounce gold sold for the year 2015. This is well below the guidance of AISC at $600 to $700 per ounce gold sold as provided to the market in the previous announcements.
Q3 2015 | Q4 2015 | Full Year | |
Tonnes Mined Ore | 1,128,000 | 1,147,000 | 4,478,000 |
Tonnes Mined Waste | 1,762,000 | 974,000 | 7,011,000 |
Tonnes Milled | 1,083,000 | 1,081,000 | 4,220,000 |
Gold Head Grade, g/t | 2.52 | 2.75 | 2.76 |
Silver Head Grade, g/t | 26.38 | 30.08 | 28.68 |
Gold Recovery, % | 80.6 | 79.9 | 81.4 |
Silver Recovery, % | 66.4 | 61.8 | 65.2 |
Gold Poured, ounces | 70,302 | 75,831 | 302,449 |
Silver Poured, ounces | 609,178 | 636,755 | 2,534,486 |
Safety performance in the quarter remained generally good, with one lost time injury recorded in October 2015 bringing total lost time injuries for the year to two. This is an excellent achievement in terms of safety performance as the LTI has been reduced from three LTIs recorded in 2014 at Martabe.
Towards the end of the fourth quarter, the Joint Venture of PT NKE and Macmahon has
started as the new mining contractor at Martabe.
Total mine material movements of ore and waste were 2.12 million tonnes for the quarter, and 11.5 million tonnes for the year, which was 4% above the plan. The waste to ore strip ratio was at 0.85:1 for the fourth quarter as the mining was focused on ore production rather than waste material for the TSF construction. The waste to ore strip ratio was at 1.57:1 for the year, which was 4% below the plan.
The process plant continued to perform well with gold recovery 5.2% above plan for the quarter and silver 5.0% below the plan due to more refractory materials and one tank offline for maintenance. For the full year gold and silver recoveries were 81.4% and 65.2% respectively, which were in line with the plan. Mill throughput at 1,081,000 tonnes for the fourth quarter was another high milling rate achieved at Martabe. The annual processing plant mill throughput was 4.2 million tonnes and the total poured gold and silver were 302,449 ounces and 2,534,486 ounces. This excellent production achievement is a direct result of the ongoing successful implementation of the pipeline of projects within the Martabe Improvement Programme and has been achieved through the great collaboration of all the teams.
As advised in the previous quarterly report, the major equipment of a secondary crusher has been selected and the Front End Engineering Design ("FEED") study has been completed in the fourth quarter while an internal and external technical review on the downstream debottlenecking is ongoing in parallel with detailed design.
The new mining fleet of the JV-NKE and Macmahon.
Operators in the processing control room.
G-Resources Group Limited issued this content on 27 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 January 2016 09:04:10 UTC
Original Document: http://www.irasia.com/listco/hk/gresources/announcement/a154358-e_quarterlyupdateq4_27_1_2016_final.pdf
