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Nordgold announced IQ results

Nordgold Group, the internationally diversified gold producer, announces unaudited operating results for the first quarter ended 31 March 2020, as it was informed on the site of the Company May 21.

In Q1 2020, gold production increased by 4% YoY to 225.9 koz mainly driven by higher volumes of ore processed at Taborny, Gross and Suzdal mines, as well as higher recovery rates at Gross, Suzdal and Taparko.

Q1 2020 production decreased against Q4 2019 mainly due to the normal impact of the winter season on heap leach operations in Russia, lower processed volumes and grade at Bissa-Bouly and Lefa, as well as lower recovery at Suzdal.

Extensive measures were implemented across Nordgold?s global operations to support employees and local communities during the COVID-19 outbreak. All Nordgold mines were operational in Q1 2020 except the Bissa plant where processing was suspended for three days in March to introduce COVID-19 precautionary measures.

In March 2020, Nordgold acquired a 19.9% stake in ASX-listed Cardinal Resources, owner of the Namdini Gold project in Ghana, which was followed by a submission of a non-Binding Preliminary Proposal to acquire the balance of the company.

In May 2020, Nordgold entered into a Binding Term Sheet with the Australian-based explorer Mako Gold Limited (to acquire its Niou Gold Project located 50 kilometers southwest of the Bissa mine in Burkina Faso.

Nordgold?(Nord Gold S.E.)? is an international gold extraction company keeping the assets in Russia, Kazakhstan, Guinea, Canada, Guiana Burkina Faso.

Nordgold was founded in 2007 as a gold mining division of Severstal, a Russian steel and mining company owned by Alexey Mordashov.

In early 2007, Severstal acquired the Suzdal and Zherek gold mines in Kazakhstan, as well as the Aprelkovo and Neryungri mines in Russia. In August 2008, Severstal purchased a controlling interest in the Balazhal mine in Kazakhstan, the Irokinda, Zun-holba and Berezitovy mines in Buryatia, the Taparko mine, and the rights to develop the Bissa field in Burkina Faso. In late 2010 and early 2011, the company acquired control of the Lefa mine in Guinea.

In early 2012, Nordgold separated from Severstal and became a public company whose global Depositary receipts are traded on the London stock exchange.

In January 2013, Nordgold commissioned the new Bissa gold mine located in Burkina Faso.

In 2017, the company delisted from LSE.

"AK&M", 22.05.2020 18:14


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