GV Gold will pay RUB 821 M of dividends for 6m 2019
GV Gold, one of largest and fastest growing Russian gold mining companies, will pay the dividends in the amount of RUB 14.927037719 per share following the results of H1 2019.
The relevant resolution is made by the Extraordinary General Shareholders Meeting which took place on September 30, 2019. The total amount of payable dividends is RUB 821 M, which corresponds to 30% of the Company’s EBITDA for H1 2019.
Besides, the Company reports on the corporate changes in the top management structure. Igor G. Korotayev is appointed the General Director of the Taryn business unit (TGMC, JSC).
With the greatest sadness, we would like to inform you on a sudden death of the member of the Board of Directors of GV Gold, the Deputy Chairman of the Board of Lanta-Bank Sergey A. Filippov. The Company expresses its sincere condolences to the family members and close friends.
GV Gold (Vysochaishy, PJSC) is one of the largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2018, the Company produced 304 koz of gold. For the second year in a row, the Company demonstrates a double-digit growth of production, unprecedented in the industry. Compared to 2016, it practically doubled this index.
Its key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 8 Mtpa of ore and holds 20 mining and exploration licenses. GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 4.4 Moz and 7.0 Moz, respectively.
The Company adheres to high corporate governance standards and has a transparent ownership structure, with BlackRock among its shareholders (17.99%).
For further information, please visit http://gvgold.ru