Highland Gold Mining's gold production slightly decreased in quarter I

23 May 2016

Production of Highland Gold Mining Ltd's gold decreased in the first quarter by 0.9% compared with the same period a year earlier. The total volume of gold production in the Russian fields "Mnogovershinnoe", "Novoshirokinskoe" and "Belaya Gora" reached in the reporting period 56.889 thousand of Troy ounces of gold and gold equivalent compared to 57.421 thousand ounces in the same period a year earlier.

The average price of gold sale was $ 1174 per ounce. Volumes of ore processing at "Belaya Gora" in the first quarter increased by 32% provided some drop in its grade.

For the current year, production landmark of Highland is 255-265 thous. ounces of gold.

Source: MetalTorg.ru