Heliostar Metals stock gains on Mexican asset buys
Heliostar aims to reach production of more than 500,000 oz. of gold a year by 2030.
Precious metals miner G-Resources has completed its first gold pour at its flagship project, the Martabe mine, in Indonesia.
The Hong Kong-listed miner said on Wednesday that the start of production at Martabe marked a significant milestone for the company.
“Now that we have secured first gold, we are on track to complete commissioning activities and ramp production up to full capacity over the coming months,” said CEO Peter Albert.
“At capacity of 250 000 oz/y of gold and 2.5-million ounces a year of silver, this will be one of the largest gold mines in Indonesia and Asia. And we are coming on stream at a time when the gold market continues to strengthen.”
The Martabe project, which has been in development for the past three years, has a resource base of almost 8 million ounces of gold and nearly 74 million ounces of silver.
The company is now planning to expand the Martabe operation through adding to its existing resource and reserve base, and stepping up exploration efforts.
