Russia: GV Gold IFRS net profit down in H1 2018

The net profit of Russia’s gold producer GV Gold fell by 9.5% YoY, to $19 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue soared by 70%, to $146 million. Operating profit grew by 52%, to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by…

Russia: Amur Zoloto extracts 790 kg of gold

In January-July Amur Zoloto LLC, extracting gold on the territory of Khabarovsk region, produced 789.5 kg of gold. In particular, the Yubileyniy GOK at the Krasivoye deposits produced 44.4 thousand tons of ore gold, with Yubileynaya factory processing 59.3 thousand tons of ore and producing 538.6 kg of gold and 333.9 kg of silver. Perevalnaya…

Russia: Chukotka’s gold output down

Gold output of the Chukotka Autonomous District is falling, governor Roman Kopin said in his letter to president Vladimir Putin asking for higher financing of geological exploration and better mechanisms of licensing of subsoil sites. Kopin said that the gold reserves of the unallocated subsoil reserve fund of the region stood at only 95.2 tons,…