London, United Kingdom, 25 March 2019 — Nord Gold SE (Nordgold or the Company), the internationally diversified gold producer, announces its financial and operating results for the fourth quarter and twelve months ended 31 December 2018.
We delivered a robust performace in 2018, a year in which we have made considerable investments in our mine portfolio to better position Nordgold for long term growth. The combination of lower grades and recoveries has had a short term impact on production and profitability, but we are confident by taking this action now, investing in both people, processes and operations, we are placing Nordgold in a strong positon to capitalise on our extensive asset base and the many opportunities we see ahead for organic growth.
We have also successfuy progressed our pipeline during the year, once again showcasing our proven ability to complete major development projects. A key highlight was the September launch of Gross mine in Russia, the third new mine we have built since 2013. The success of Gross gives us enhanced confidence in our ability to deliver Montagne d’Or, our next anticipated major growth project in French Guiana. Montagne d’Or has the potential to be a major driver of growth, providing jobs, infrastructure and revenue for the host country. Nikolai ZelenskiChief Executive Officer of Nordgold
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