Amsterdam, Netherlands, 16 May 2016 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces a 28% increase in EBITDA (1) to US$119.3 million and a 8% reduction in All-In Sustaining Costs (1) ("AISC") to US$825 per ounce from Q4 2015.
((1) For detailed definition, please see Non-IFRS Financial Measures.
(2) Normalised Net Profit attributable to shareholders adjusted for the non-current assets and inventories impairment or utilisation of impairment.
We have delivered a solid financial performance in the quarter with EBITDA up on the preceding quarter, and positive free cash flow generation while constructing Bouly mine. We remain firmly in the lowest quartile of the industry cost curve and continue to generate strong cash flow from our operations. This in turn enables us to invest in our de-risked and capital efficient development pipeline.
Both our production and costs forecasts for the year remain unchanged and we remain committed to the strategy that delivers robust returns for our shareholders. I am pleased to confirm that our Bouly construction project is ahead of schedule and budget and we look forward to bringing the project on stream in Q3 2016. 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 Q1 2016 on a conference call to be held on Monday, 16 May 2016 at 2.00 pm BST (4.00 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 Q1 2016 Financial Results
To participate in the telephone conference, please dial:
+44 (0) 2030432441
0808 238 1775
+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