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min2664 G-Resources Group Limited made significant headway in its core asset – Martable gold and silver project – which covers 1,639 sq kilometres in North Sumatra, is seen as one of the most promising mineral deposits mines in Asia. First gold ore had been mined and stockpiled and the company is on schedule to produce its first gold by first quarter of 2012. A US$100 million revolving credit facility agreement has recently been executed with the three banks: BNP Paribas, Hang Seng Bank Limited and Sumitomo Mitsui Banking Corporation (SMBC). Together with the US$242 million in cash and liquid assets held by G-Resources in October, the final capital estimate of US$576 million is expected to be sufficient to fund all production and operating costs. Till date, the G-Resources Group's JORC compliant resources are estimated to contain 7.86 million ounces of gold and 73.48 million ounces of silver. All groundwork is completed, with infrastructural developments in place and major supply and service contracts signed, the company certainly looks set to "Gold". Meet Mr Peter Albert, CEO of G-Resources Group for the latest updates and insights into the Martable Project’s development in becoming a world-class gold mining company. Download programme brochure here . Join Mining Nuggets on Facebook and mingle with industry experts and professionals.
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