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M A R TA B E M I L L What the Future Holds "For now the company is focused on the Martabe area and we think the sulfide program is at least a significant shift but also a potential game changer as it may add significant ounces to the production profile," Albert said. "Some of the sulfides are at surface, such as at Horas; at Purnama they exist within the current pit outline and just below it; and there may be others at deeper levels that may require underground development but that is very futuristic from where we sit now. "Once we get into significant cash flow and get the share price up, we can rethink our approach as far as what happens beyond Martabe, whether in other parts of Indonesia or further afield. We have the wherewithal to do that—the right people, right skill set and in time we'll have the right financial profile. "We are the first major mining project to be developed in Indonesia for 10 or 15 years and we have been attracting strong interest at regency, provincial and national government levels as well as in mining circles around the world. We have shown what can be done in Indonesia, which from an international perspective has been seen as an ever-changing investment destination where the rules have not been clear, making it difficult to make www.e-mj.com any big investment leaps. When people see what we have achieved, it generates greater confidence and an understanding that these things are achievable as well as showing that it is a workable environment. "Indonesia is no more difficult or challenging than anywhere else, and probably a lot easier than many other resource-rich environments," he says. Government has been tremendous throughout the entire process and has been very supportive at all levels in terms of helping us over the various hurdles. What we have been able to achieve is the ability to get things done in this sort of environment by networking, developing relationships and having the right, key Indonesian people on our board and at management level. It's the senior Indonesian people who make it all happen and they have done that very well at Martabe, led by Deputy President Director Linda Siahaan. "We are here in the country and when we look at potential opportunities for development of mining projects, we have three criteria: is it an environment where you would be prepared to work yourself—is it safe for the people you are going to send there; is it minerally prospective; and is it a workable place, an environment in which you can get things done and work through the system. Indonesia ticks all three boxes—there are no safety issues of any great consequence and it is a very safe environment in which to bring families; Indonesia is part of the Pacific Rim of Fire and with the Philippines and Papua New Guinea, is probably one of the most prospective places on the planet, and very largely underexplored; and we have just demonstrated that you can get things done in Indonesia. If you have the right people, the right resources, the right commitment and dedication, then it is very workable." The G-Resources' CEO says that for the mining industry in Indonesia it is a case of "watch, wait and see" as there is still a lot of uncertainty. "Martabe is attracting a lot of interest and people will say that it can be done but because we are in country, we understand how to work here. Others looking to enter this environment would have greater difficulty coming to terms with it, and understandably so. We see that as an opportunity for us whereas others may not wish to enter as they see the level of uncertainty as a result of the changing regulations," Albert said. "The mineral potential here is such that it can only be developed in the future and the long-term future for the mining industry has to be very positive." APRIL 2013 • E&MJ; 93