Amsterdam, Netherlands, January 22, 2013 - Nord Gold N.V, (“Nordgold” or the “Company”, LSE: NORD), an independent, internationally diversified, pure-play gold producer strategically focused on emerging markets, announces its operating results for the fourth quarter and twelve months ended December 31, 2012.
Gold production for the twelve months ended December 31, 2012 was 716.9 Koz (a decrease of 5% from 2011). The decline in production for the full year was mainly due to mechanical bottlenecks which seriously affected production at our main assets in 1H 2012. Nordgold took a number of operational measures during 2012 to improve production at all our mines.
Q4 gold production of 201.9 thousand gold equivalent ounces («Koz»), a 4% growth QoQ and 1% decrease YoY.
Gold production in Q4 2012 increased at Lefa, Taparko, Berezitovy from Q3 2012, while production fell at Buryatzoloto, Suzdal, Neryungri and Aprelkovo in the same period.
Revenues for the twelve months ended December 31, 2012 increased by 1% to US$1,197.9 million, compared to US$1,182.1 million in the 2011 financial year. Q4 2012 revenues increased by US$24.3 million or 8% compared to Q3 2012, from US$322.5 million in Q3 2012 to US 346.8 million in Q4 2012. · Nordgold anticipates 2013 full year production to be in the range of 770 to 850 koz.