Russian gold producer GV Gold has approved a new dividend policy to keep the high payouts and will calculate dividends on the basis of earnings before interest, taxes, depreciation, and amortization (EBITDA) starting from the dividends for 2017, the company said in a statement. GV Gold set the target level of dividends at 30% of…
Sinida-1, a part of Seligdar, has started the ore gold mining season. On April 25, after a winter break and modernization, the gold-extracting factory at the Nerundinskoye deposits (Buryatia) was put into operation. “We expect increase in gold extraction. We plan to reach 74% of extraction as opposed to 45% last year. This will be…
Centerra Gold Inc. has agreed with the government of the Kyrgyz Republic to extend the first longstop date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the government of the Kyrgyz Republic on September 11, 2017. The deadline for the implementation of the agreement with Centerra expired on April…
Centerra Gold Inc. called the news release issued by Chaarat Gold Holdings Limited on acquisition of Kumtor mine “market speculation”. Official comment of the company says. In March Centerra received an unsolicited, non-binding proposal from Chaarat concerning Kumtor mine located in the Kyrgyz Republic. Centerra promptly communicated to Chaarat’s advisers that it had no interest…
Chaarat Gold Holdings Limited made a proposal in relation to the potential acquisition of Kumtor mine from Centerra Gold Inc. The acquisition would form part of a proposed three-way transaction between Chaarat, Centerra and the Kyrgyz state consortium, Kyrgyzaltyn OJSC. Chaarat has proposed that Chaarat and Kyrgyzaltyn acquire Kumtor from Centerra, in an arrangement that…
In January-March Petropavlovsk Plc decreased gold output by 5% YoY, to 112.556 thousand ounces (3.5 tons). According to the company statement, gold sales dropped by 5%, to 112.244 thousand ounces. The average price grew by 4%, to $1295 per ounce. This year the company intends to obtain 420-460 thousand ounces of gold. Petropavlovsk Plc is…
In 2018 Kamchatka region intends to obtain 6800 kg of gold and 16.5 tons of silver. Ore gold companies will provide for the main part of the output – 6700 kg. Alluvial gold companies have to obtain at least 100 kg. In case the output target is met, gold output will grow by 2% YoY,…
In January-March Serebro Magadana (a part of Polymetal) mined 381 kg of gold and 170 tons of silver. Omsuckchanskaya factory processing grew by 2%, to 484 thousand tons of ore. Gold output increased by 25% YoY, while that of silver remained on the previous year level. The growth of gold output has to do with…