Colorado Springs, Colorado, 19 September 2016 – Nord Gold SE ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces that Louw Smith, Chief Operating Officer, will present to the Denver Gold Forum today.
The Denver Gold Forum presentation follows the announcement of Nordgold’s half year results on August 30th, 2016, in which the Company reported a 29% increase in Net profit QoQ to US$53.1 million, reflecting its high-quality asset base, operational excellence and proven ability to drive down costs.
Mr Smith will explain how Nordgold’s focus on free cash flow and maintaining its position as a low cost producer compared to peers are central to its strategy. Nordgold is targeting positive free cash flow across all nine operating mine sites to ensure it has a robust balance sheet and strong liquidity control.
He will also talk about the margin improvements and profitable extension of existing operations achieved through continuous productivity improvement programmes, development projects at operating mines and near-mine exploration success. He will highlight the successful introduction of HiTeCC (Hot Leach) technology at Nordgold’s Suzdal mine (Kazakhstan) in particular, which is expected to increase production and reduce life-of-mine all-in sustaining costs. The introduction of HiTeCC is consistent with the Company’s strategy to maximize returns from its operating assets through proactive management and innovative technology where applicable.
Finally, Mr Smith will outline how Nordgold has delivered on its international, low cost, de-risked development pipeline, with the first gold pour at Nordgold’s new Bouly heap leach operation in Burkina Faso achieved and construction of the Gross mine in Russia on track. In addition to the Montagne d’Or (French Guyana) Feasibility Study is on schedule while the Company continues to see promising results from its on-going exploration programme at Pistol Bay (Canada). Mr Smith will note these projects are highly capital efficient, competitively positioned at the low end of the cost curve requiring Nordgold to commit low capex per ounce of production.
Mr Smith will state this proven ability to operate with a low cost base, and the compelling financial metrics which underpin its development pipeline, gives Nordgold confidence it will continue to generate returns for investors.
No new material financial or trading information will be disclosed during the presentation. A copy of the presentation will be available to download from the Nordgold website from midday.Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The Company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cash flows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2015, Nordgold produced 950 koz of gold with all-in sustaining costs of US$793 per ounce, maintaining its position at the lower end of the global cost curve.
Nordgold operates 9 mines (5 in Russia, 2 in Burkina Faso and one each in Guinea and Kazakhstan). It has one project in construction phase (Gross in Russia), several prospective projects in feasibility study and preliminary economic assessment/advanced exploration phase and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.
Nordgold
Valentina Bogomolova
Head of IR
Tel: +7 495 644 4473
Olga Ulyeva
Head of Media Relations
Tel: +7 495 644 4473
Powerscourt
Peter Ogden
Giles Read
Tessa Berry
Tel: +44 (0) 20 7250 1446
