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GV Gold (Vysochaishy, PJSC) Production Highlights for 2016

In 2016, the GV Gold (Vysochaishy, PJSC) Group produced 5.1 t (164 koz) of gold. The tonnage of gold produced at the Irkutsk project assets totaled 4.8 t (154 koz) of gold. Over the year the facilities processed 4.4 Mt of ore. In the reporting period the Aldan project produced 308 kg (10 koz) of gold.

10% decline of the annual production against the respective figure of 2015 is associated with the scheduled development of low-grade ore (<1,33 g/t) at the Irkutsk project (-8 %). At the same time, based on the results of 2016, the Group’s revenue from sales of gold increased by 6% against the respective figure of the previous period, and totaled RUB 13.6 B.

In the current year the production plan of the GV Gold (Vysochaishy, PJSC) Group makes 6.7 t (216 koz) of gold. 30% growth of the production will be achieved in 2017 through commissioning of Stage 1 of the Ugakhan Mine in the Irkutsk Region and the Taryn Mine in the Sakha (Yakutia) Republic.  

GV Gold (Vysochaishy, PJSC) Production Highlights:

2016

2015

Irkutsk Project

Gold produced

kg

4 787.73

5 210.28

koz

153.93

167.51

Revenue from gold sales

M RUB

12 835.26

11 807.31

M USD

190.91

194.03

Aldan Project

Gold produced

kg

308.36

430.60

koz

9.91

13.84

Revenue from gold sales

M RUB

810.62

976.55

M USD

12.68

15.63

In Total for the Group of Companies

Gold produced

kg

5 096.09

5 640.88

koz

163.84

181.36

Revenue from gold sales

M RUB

13 645.88

12 783.86

M USD

203.59

209.65

GV Gold (Vysochaishy, PJSC) is one of the TOP-10 gold mining companies of Russia. Mineral Resources (JORC) total 338 t (10.9 Moz) of gold, the Exploration Potential is 753.7 t (24.2 Moz).

Major shareholders of GV Gold (Vysochaishy, PJSC) are the Chairman of the Lanta-Bank Board Sergei Dokuchaev, the Deputy Chairman of the Lanta-Bank Board Natalia Opaleva and the General Director of LT-Resource, CJSC Valerian Tikhonov, holding 20.36% of shares each. Other large shareholders of the Company: Blackrock – 17.99%, EBRD – 5.26%, member of the GV Gold Board of Directors Vladimir Kochetkov– 5.46%, Brishurt Ltd – 6.37%, Fayweld Holdings – 2.95%.