Further to the Previous Announcements, the Board wishes to update the shareholders of the Company (the “Shareholders”) that the Malaysia Minerals and Geoscience Department has on 12 October 2017 given its approval for the operational mining scheme in relation to the underground mining and development works to be carried out at the Lubuk Mandi Mine (the “Operational Mining Scheme”). The approval for the Operational Mining Scheme shall be effective from 12 October 2017 until 31 October 2019. Accordingly, pursuant to the approval for the Operational Mining Scheme, GAR will be commencing underground gold mineral mining works at the Lubuk Mandi Mine pursuant to the scope of the Mining Agreement and in accordance with the Operational Mining Scheme.
GAR formally took over the mining operations at the Lubuk Mandi Mine on 1 August 2017, and has built a winching control room and tunnel entrance, as well as brought in relevant equipment since then. Additionally, GAR is expected to commence trial runs of the mining works from mid-November 2017 with machinery capable of producing 20 to 25 parts per million of gold concentrate.
