Source:
p. 12
PT Agincourt Resources (PTAR) is an Indonesianbased mining company engaged in exploration, mining and mineral processing of gold and silver bullion. Its sole operating site is the Martabe Gold Mine in Sumatra.
PT Agincourt Resources is 95% owned by an investment consortium led by EMR Capital, a specialist mining private equity fund. The remaining 5% is held by PT Artha Nugraha Agung, which is 70% owned by the District of South Tapanuli and 30% owned by the Province of North Sumatra.
Summary:
The Martabe Gold Mine is located in North Sumatra in the District of South Tapanuli. The area covered by this agreement is 1,639 km², however, the area of operations at the close of 2017 was limited to 452 hectares.
There are six defined mineral deposits at the Martabe Gold Mine. These deposits are of a type known as high sulphidation epithermal deposits and comprise part of a large-scale mineralised district which has the potential to host further gold and gold-copper deposits.
Summary:
Mining at the Martabe Gold Mine comprises opencut mining from relatively shallow pits located on mineralised hills or ridges. Mining commenced at the Purnama deposit in 2011. Mining at the nearby Barani deposit commenced in July 2016, and mining at Ramba Joring commenced in 2017.
Processing
- Agitated tank (VAT) leaching
- Carbon in leach (CIL)
- Elution
- Solvent Extraction & Electrowinning
- Cyanide (reagent)
Source:
Summary:
The process plant at the Martabe Gold Mine is a conventional carbon-in-leach (CIL) plant with a design capacity of 4.5 million tonnes of ore per annum. The process plant normally operates continually except during maintenance shutdowns.
As for most gold mines, the process of gold and silver extraction from the ore is relatively simple, the main steps being:
-Crushing and stockpiling of ore.
-Grinding and conversion of ore to form a slurry.
-Leaching of gold and silver from the slurry using cyanide.
-Adsorption of gold and silver in solution onto carbon granules.
-Removal of gold and silver from the carbon granules in a process called elution. Recovery of gold and silver through electrowinning.
-Smelting to produce dore bullion (gold and silver) bars ready for shipment. All bullion produced at the Martabe Gold Mine is refined in Jakarta.
Recoveries & Grades:
Commodity | Parameter | 2019 | 2018 | 2017 | 2016 |
Gold
|
Recovery Rate, %
| ......  | ......  | ......  | ......  |
Gold
|
Head Grade, g/t
| 2.35 | 2.73 | 2.48 | 2.45 |
Silver
|
Recovery Rate, %
| ......  | ......  | ......  | ......  |
Silver
|
Head Grade, g/t
| 17.5 | 23.1 | 23.7 | 23.6 |
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Production:
Commodity | Units | 2019 | 2018 | 2017 | 2016 |
Gold
|
oz
| ......  | 410,387 | 355,377 | 310,550 |
Silver
|
oz
| ......  | ......  | ......  | ......  |
All production numbers are expressed as metal in doré.
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Operational Metrics:
Metrics | 2019 | 2018 | 2017 | 2016 |
Ore tonnes mined
| ......  | 5,664,976 t | 5,572,583 t | 5,062,816 t |
Waste
| ......  | 6,059,444 t | 5,332,293 t | 8,045,184 t |
Tonnes milled
| ......  | 5,572,308 t | 5,353,388 t | 4,840,000 t |
Annual processing capacity
| ......  | 4.5 Mt | 4.5 Mt | |
Total tonnes mined
| ......  | | 10,904,876 t | 13,108,000 t |
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Reserves at December 1, 2019:
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven & Probable
|
95 Mt
|
Gold
|
1.5 g/t
|
4.5 M oz
|
Proven & Probable
|
95 Mt
|
Silver
|
11 g/t
|
32 M oz
|
Total Resource
|
206 Mt
|
Gold
|
1.2 g/t
|
7.8
|
Total Resource
|
206 Mt
|
Silver
|
9.7 g/t
|
64 M oz
|
Commodity Production Costs:
| Commodity | Units | 2019 | 2018 | 2017 | 2016 |
All-in sustaining costs (AISC)
|
Gold
|
USD
|
......
|
367 / oz
|
405.39 / oz
|
429.13 / oz
|
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Financials:
| Units | 2019 | 2018 | 2017 | 2016 |
Revenue
|
M USD
| ......  | 574.2 | 484.44 |
426.44
|
Gross profit
|
M USD
| ......  | 368.68 | 266.87 |
206.17
|
Pre-tax Income
|
M USD
| ......  | 270.71 | 203.2 |
162.02
|
After-tax Income
|
M USD
| ......  | 166.8 | 151.34 |
120.67
|
EBITDA
|
M USD
| ......  | 373.83 | 327.29 |
279.92
|
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Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Jan 2, 2020
|
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Staff:
Employees | Contractors | Year |
|
|
2017
|
Corporate Filings & Presentations:
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News:
Aerial view:
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