09.07.2015 – Krasny, LLC, a
joint venture of GV Gold (Vysochaishy, OJSC), holding 51% of equity, and Kopy
Goldfields АВ, won the
auction for the right to use the Ruchey Krasny site (Bodaibo Area, Irkutsk
Region) subsurface for geological surveying, exploration and production of placer
gold. The total prognostic resources of the P2 category amount to 30 kg.
The license area is located
within the contour of Krasnoye hardrock deposit license, already held by
Krasny, LLC, where the exploration operations are currently carried out.
In the future, favorable
location of the placer license within the boundaries of the Krasnoye hardrock
deposit design open pit will allow for improvement of the development
efficiency of both licenses, among other factors, due to the future stripping