G-Resources, Antam sign Martabe?s gold and silver refining contract

Hong Kong-listed gold mining firm G-Resources Group reported on Friday that its Indonesian subsidiary, PT Agincourt Resources (?PTAR?), has entered into a refining agreement with PT Antam (Persero) Tbk (?PT Antam?) for its business unit, Logam Mulia, to refine PTAR?s gold and silver bullion. PTAR is the operating company of the Company?s Martabe gold and silver project in Indonesia.

PT Antam is a 60 per cent Indonesia state-owned company listed in Indonesia and Australia. Logam Mulia has been accredited by the London Bullion Market Association (?LBMA?) and provides refining services for a number of gold mining companies operating in Indonesia.

PTAR will send its mixed gold and silver bullion produced at its Martabe Project to Logam Mulia for refining into high purity gold and silver for sale on the international precious metal market. The LBMA regulations for gold require that a good delivery bar must be at least 995 parts per 1,000 pure gold, with 999.9 being the highest possible quality. (romel)