Konstantin Beirit appointed as president of Seligdar Holding

08 Aug 2016
Konstantin Beirit, director of the Russian Fundsinvestment group, appointed as President of PAO Seligdar on August 5, 2016, according to the company's report after the meeting of the Board of Directors.
Powers of Konstantin Beirit determined for the period prior to the Annual General Meeting of Shareholders of Seligdar on the results of 2016 and the election of new Board of Directors. Anatoly Labun, former president of the holding company, according to local media, will serve as the president’s advisor.
The Board of Directors of Seligdar also approved the targets for 2017at the meeting:
  • gold production - not less than 5,475 tons (an increase by 58%compared to 2015);
  • shop price of extracting - not more than 1,313 rubles per gramm;
  • exploration limit (field work) - 377 million rubles;
  • capital costs limit - 600 million rubles (without the cost of gold extraction plant), including: licenses for exploration - 260 million rubles.
The Seligdar Boardshall submit the plan of production and economic activities of the group of companies for 2017 for approval by the Board of Directors by 22 August.
As reported, the Seligdar Holding sets the task in 2020 to enter the production level of 8.5 tons of gold, 2.45 times more than was produced in 2015. Tin production in 2020 should reach 4.5 thousand tons. As a result, the holding expects to receive proceeds of at least $500 million, at a cost of $700 an ounce of gold and $10 thousand per ton of tin.
This year, the holding company plans to produce 4.74 tons of gold (an increase by 37% compared to 2015).
Polymetallic holding Seligdar was created in 2008 based on the assets of gold-mining cooperative with the same name. In terms of gold production, it occupies 11th place among the largest Russian gold mining companies. Holding includes 13 enterprises in Yakutia, Altai Krai, Buryatia, Orenburg Region and Khabarovsk Krai.
Source: Economical Information Agency «PRIME»  http://gold.1prime.ru