Nord Gold SE
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Publicatie datum
18 jul 2012 - 09:53
Statutaire naam
Nord Gold SE
Titel
Nord Gold N.V. Announces Intention to Make an Offer to Minority Shareholders of High River Gold Mines Ltd.
Bericht
Amsterdam – July 18, 2012 – Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD) is pleased to announce that it intends to make an offer to acquire the outstanding shares of High River Gold Mines Ltd. ("High River", TSX: HRG) not already owned by Nordgold and its affiliates. Nordgold currently owns 630,627,472 High River shares, constituting approximately 75 percent of High River.
NORDGOLD SECOND QUARTER TRADING UPDATE
Summary
Gold production for the second quarter increased on Q1 by 6 percent, to 165.3 thousand gold equivalent ounces (“koz”) (Q1 2012: 155.7 koz). The average realised gold price during the quarter was US$1,602 per ounce (Q1 2012: US$1,689).
Gold production has increased at Lefa, Berezitovy, Neryungri and Aprelkovo over the previous quarter, with small production falls at Taparko, Suzdal and Buryatzoloto. Nordgold has taken a number of operational measures during the quarter to improve production at all mines, particularly at Taparko mine, at which performance has been somewhat disappointing. Nordgold continues to make significant progress across our asset portfolio and expects substantial growth in the second half.
Production Guidance
As stated in the production report of 24 April 2012, several of the mines, including Taparko, Berezitovy and Lefa, have experienced production bottlenecks in the first half of the year. While the Company has been able to resolve most of the mine specific issues, such that the production profile of Nordgold in the second half will significantly improve, the first half production bottlenecks will impact the full 2012 production volumes. As a result, Nordgold anticipates 2012 production to be in the range of 720 to 770 koz.
Nordgold will publish its full Q2 2012 operational results together with its financial results.
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