HONG KONG (Yosefardi) – Martabe gold mine in North Sumatra province poured 75,132 ounces of gold in the third quarter ended September 30, 2013, grew significantly from 70,212 ounces in the previous quarter.
Cash cost per ounce of gold poured, meanwhile, declined substantially from US$510 to US$397 per ounce. Average gold price also down to US$1326 per ounce from US$1431/Ounce in the previous quarter.
In nine months of 2013, Martabe mine, controlled by G-Resources Group Ltd, a company listed on the stock exchange of Hong Kong, has produced 209,000 ounces of gold and over one million ounces of silver.
G-Resources said whole year target stays at 280,000 ounces of gold.