Amsterdam, Netherlands, July 22, 2015 - Nord Gold N.V. (“Nordgold” or the “Company”, LSE: NORD), the internationally diversified low-cost gold producer, announces a 7% increase in gold output to 507.5 thousand gold equivalent ounces (“koz”) and 4% growth in revenue to US$644.6 million in H1 2015.
I am pleased to report another strong period of operational performance. We have remained absolutely committed to our strategy — a continued focus on costs, operational efficiencies and production improvements which have enabled us to consistently deliver robust free cash flow. It is this focus on operational delivery that gives us the confidence in achieving the higher end of our full year product target range of 925-985koz.
Looking ahead, we benefit from three well defined exciting growth projects that will require modest development capex. Two of them, Bouly and Gross, are extensions to existing mine sites and are ready for construction. We will progress these projects towards production, while remaining faithful to our strategy: keeping a very close control over costs, and continuing to drive further operational improvements. I am confident in the outlook for the Company and our ability to generate consistent growth and sustainable returns for our shareholders. Nikolai ZelenskiChief Executive Officer of Nordgold
Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. The Company has expanded rapidly through carefully targeted acquisitions and organic growth, achieving a rate of growth unmatched in the industry during that period. In 2014, Nordgold’s gold production increased to 985 thousand ounces from 924 thousand ounces in 2013. The Company operates 9 mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Burkina Faso, Guinea, Russia, Kazakhstan, French Guiana and Canada. Nordgold employs over 8,000 people.