Gold output of GV Gold rose by 36%, to 304,300 ounces in 2018 thanks to higher efficiency on all facilities and as the plants on Taryn and Ugakhan reached their design capacity, the company said in a statement on January 28.
Sales grew by 37%, to 299,000 ounces with the average price amounting to $1,255 per ounce, and revenue rising by 32%, to $357 million.
GV Gold’s net debt amounted to $72 million as of the end of 2018, more than halving on the year.
In 2019, the company plans to produce 305,000-325,000 ounces of gold. (Prime/Ukrainian metal)