FINANCE VIDEO: G-Resources Group (
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http://www.abnnewswire/press/en/63101/G-Resources
G-Resources' strategic vision is to build a world class Asian focused gold company with Martabe as the core starter asset. It will do this by building Martabe to time, budget and quality with due attention to employees safety, the environment and the local community. This sets the standard for other G-Resources' business in Indonesia and the region generally. G-Resources will grow organically and by acquisition of exploration projects, development through advanced stage projects and operations.
The Martabe Project is a gold-silver development project located in North Sumatra Province, Indonesia with:
- 2.7 million ounces of gold reserves and 32.8 million ounces of silver reserves
- 6.5 million ounces of gold resources and 66.4 million ounces of silver resources
The Construction Permit for the project was granted by the Indonesian Authorities in April 2008
The project is adjacent to the Trans-Sumatra Highway and is 40km to the port of Sibolga and started construction in July 2008, with expected completion in 2011.
The anticipated total development capital expenditure is $360 million, of which around $150 million has already been spent.
About G-Resources Group Limited
G-Resources Group Limited, formerly Smart Rich Energy Finance (Holdings) Limited, is a Hong Kong-based investment holding company. The Company's core business includes DNA security service, DNA Mobile email services and financial information services (WINFCS). During the fiscal year ended June 30, 2008, the Company's WINFCS contributed to approximately 26% of the total turnover. The DNA security service and DNAPAY service contributed approximately 27% of the Company's turnover. The Company operates in two segments: provision of financial information services; provision of credit card security device and digital network authorization services, and trading of electronic goods and accessories. On August 7, 2008, Hopestar Group Limited, Dorson Group Limited and Dormer, wholly owned subsidiaries of the Company, disposed of a 36% interest in Madagascar Petroleum International Limited (MPIL).
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