London, United Kingdom, 28 August 2018 — Nord Gold SE (Nordgold or the Company), the internationally diversified gold producer, announces its financial and operating results the second quarter and first half ended 30 June 2018.
Gross is expected to produce 200 koz of gold per year over a period of 17 years, raising Nordgold into the selected group of gold miners worldwide producing in excess of 1 million ounces every year. According to JORC 2012, the Gross mine’s Mineral Resources are estimated at 9.74 moz, and Ore Reserves at 4.4 moz.
We have delivered a robust performance in the first half in line with expectations. Our financial and operating results were impacted by the waste stripping at Berezitovy mine and lower grades at our Burkina Faso mines, though these were largely in line with the mine plans.
Looking ahead, our full year production guidance remains unchanged. I am delighted to confirm Gross construction is nearly complete, testament yet again to our development teams who have now successfully brought three new large scale greenfield mines on stream within the last five years. We expect to pour first gold at Gross very shortly and for the new mine to make an immediate positive impact on Group production, enabling us to reiterate our 950-1,000 koz guidance range.
Nordgold’s demonstrable track record in mine development, with our commitment to the environment, the local economy and making long term contributions to our host communities, gives us confidence in our next major project — Montagne d’Or in French Guiana, where we will apply for the necessary mining and construction permits shortly, Montagne d’Or is an outstanding asset and will be a significant and long-term contributor to the economy of French Guiana. Nikolai ZelenskiChief Executive Officer of Nordgold
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