POLYUS and Kupol won the auction in Chukotka

21 Jul 2016
According to information provided by the Agency of economic information PRIME, OOO ZDK Polyus and OOO ZDK Kupol, established by the same individuals (not related to PAO Polyus and Kinross Gold), won auctions on sites of placer gold in Chukotka, follows from the information on the results of the tender.
In particular, Polyus has offered 550 thousand rubles with the start price of 500 thousand for the site Ruchey Dymnyi - left tributary of the river Karalveem (5 km from Bilibino). The area occupies 0.93 sq km. Inferred resourcesof P1 are 273 kg. License for 10 years.The competitorof Polyus in the auction was Kupol.
ZDKKupol has offered 3.001 million rubles with the start price of 2.8 million for the site Ruchey Levyi Utlyi - left tributary of the Utlyicreek (105 km from Bilibino). The area occupies 0.49 sq km. Balance reserves of C1 are 136 kg. License for 8 years. A/S Siyaniye has also participated in the auction.
In turn, Siyaniye won the auction on the site Egilknyveem River (in the range of lines 197-226) - the left tributary of the river Mayngy-Pauktuvaam (55 km from Bilibino). The area occupies0.74 sq km; reserves of C1 are 54 kg, off-balance reserves of C1 are 14 kg; license for 6 years. Artel has offered 2.09 million rubles for the sitewith the start price of 1.9 million. The competitorof the winner in the auction was Kupol.
Source: Non-profit partnership ‘Interregional Association of Precious Metals Producers’
Due to lack of applicants, the auction was not conductedfor the site Creek Dvurogiy - right tributary of the river Topolevka Vtoraya. Bilibino is 60 km to the northeast, village Ostrovnoye is 50 km to the northwest, village Keperveem is 40 km north-east of the site. The area occupies0.98 sq km. Projected reserves of P1 are 131 kg. License for 10 years.Starting price was 700 thousand rubles.
Source: Economical Information Agency «PRIME» http://gold.1prime.ru/