London, United Kingdom, 14 November 2016 - Nord Gold SE (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified gold producer, announces an 11% increase in EBITDA to US$131.8 million in Q3 2016 compared with Q2 2016.
(1) For detailed definition, please see “Non-IFRS Financial Measures”.
We have delivered a robust financial performance in the quarter with EBITDA up sharply both on the same quarter last year and on the previous quarter this year, boosted by a higher gold price, but also a more resilient quarter’s production. This more positive gold price environment, combined with the considerable progress we have made on our development pipeline including the launch of our new Bouly mine in Burkina Faso, gives us confidence in a strong performance in 2017. We have guided the market towards higher AISC for the full year as we invest more in particular at our West African mines in order to access higher grade ores — we believe this investment will pay dividends in 2017 and expect AISC to reduce during the course of next year, as we continue to implement further cost saving measures. We remain a consistent Free Cash Flow generator committed to maintaining a low cost base and reiterate our full year capex guidance, despite the on-going investment into our portfolio of de-risked, low capital intensive development opportunities. Nikolai ZelenskiChief Executive Officer of Nordgold
Nikolai Zelenski, Chief Executive Officer of Nordgold, Dmitry Guzeev, Chief Financial Officer and Louw Smith, Chief Operating Officer will present the Company’s financial results for Q3 and 9m 2016 on a conference call to be held on 14 November 2016 at 2.00 pm GMT (5.00 pm Moscow time). The presentation will be followed by a Q&A session. To participate in the telephone conference, please register in advance.
Conference Title: Nordgold’s Presentation of Q3 and 9m 2016 Financial Results
To participate in the telephone conference, please dial:
+44 (0) 203 367 9462
0808 238 1775
+1 855 402 7761
+7 495 705 9472
The presentation will be broadcast live over the Internet and will also be available as a recording after the conference.
To participate in the webcast please follow the link:More detailed
The Company’s financial and operating results for the third quarter and nine months ended 30 September 2016 and associated presentation materials will be available on the Company’s official website: www.nordgold.com on 14 November 2016.