Russia: Vysochaishiy profit up in Q1 2018

In January-March Vysochaishiy received 3.207 billion rubles of revenue, up by 52% YoY.

Sales profit reached 1.419 billion rubles, up 2-fold YoY. Net profit increased by 41%, to 1.005 billion rubles.

As of March 31, the company accounts receivable totaled 1.132 billion rubles. (Ukrainian metal)

Russia: Vysochaishiy relocates to new office

Vysochaishiy (GV Gold) has relocated to a new business-center in Moscow situated on the Kadashevskaya Embankment Street. According to the company statement, the agreement to lease 1.3 thousand square meters was concluded with BASF in November 2017. The company occupies the whole floor of the office block. Vysochaishiy is among top-15 gold-mining companies in Russia.…

Russia: Vysochaishiy allowed to buy Renova gold assets

The Federal Antimonopoly Service has allowed Vysochaishiy to purchase 100% of the Mineraly Kamchatki LLC, which manages gold-extracting assets of Renova. The company manages Zoloto Kamchatki, Interminerals Management LLC, Kamchatka Copper Company LLC, Kamchatskoye Zoloto, Bystrinskaya Mining Company, Ametistovoye and Kamgold. Zoloto Kamchatki owns 9 licenses for gold deposits with the combined reserves of over…

Russia: Vysochaishiy commissions Ugakhan

On October 23 Vysochaishiy (GV Gold) commissioned the Ugakhan Mining and Processing Works according to the schedule. The Ugakhan gold deposits were discovered in 2010. The C1+C2 gold reserves are estimated at 49 tons (1.58 million ounces). The deposits will be developed till 2029. Investments in the project totaled $200 million. Each year the GOK…

Russia: Vysochaishiy gets Sberbank loan

Sberbank CIB has signed two loan agreements of providing Vysochaishiy, a part of GV Gold, with $150 million (8.7 billion rubles).

The first agreement presupposes the loan of $100 million (5.8 billion rubles) for 5 years. While the second is for 3 billion rubles ($50 million) for 3 years. (Ukrainian metal)