Hollywood, Florida, March 1, 2016 - Nord Gold N.V. ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces that Nikolai Zelenski, Chief Executive Officer, will present to the BMO Capital Markets Global Metals & Mining Conference today.
The BMO presentation follows the announcement of Nordgold’s full year results on February 25, 2016, in which the Company reported record EBITDA of US$520 million, reflecting its high-quality asset base, operational excellence and proven ability to drive down costs.
Mr Zelenski will explain how Nordgold’s focus on low cost production and cash generation is central to its strategy. Nordgold has successfully implemented a comprehensive cost reduction programme across all nine operating mine sites which has cemented its position in the lower quartile of the industry cost curve, enabling the Company to generate strong cashflow and invest in its extensive development pipeline. In its full year results, Nordgold confirmed All-In Sustaining Costs (ASIC) of US$793/oz, down 10% from the previous year, and free cash flow generation of US$158 million.
This operational excellence and commitment to low cost production, has enabled Nordgold to continue paying dividends to shareholders, while investing in the business for future growth. Mr Zelenski will outline this growth pipeline, with two projects in construction phase (Bouly in Burkina Faso and Gross in Russia) and four further projects in development phase. Mr Zelenski 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.
Nordgold’s flagship Bissa mine in Burkina Faso was able to fully pay back capital invested within 21 months. The Bouly, Gross and Montagne d’Or (its most advanced development project in French Guiana) projects share similar characteristics.
Mr Zelenski will state this proven ability to operate with a low cost base, and the compelling financial metrics which underpin its development pipeline, make Nordgold a unique proposition in the sector and 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.www.nordgold.com/investors/presentations/
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 cashflows 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 2 active development projects (Bouly in Burkina Faso and Gross in Russia), 4 advanced exploration projects 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
Ian Middleton
Giles Read
Tessa Berry
Tel: +44 (0) 20 7250 1446
