Share with a friend

Copy link to article


Nordgold Reports Q1 2012 Operational Results

Amsterdam, Netherlands, 24 April 2012 – 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 production results for the first quarter ending 31 March 2012.


  • Q1 gold production of 156 thousand gold equivalent ounces («koz»), 11% below production in Q1 2011
  • Increase in Q1 2012 production (vs Q1 2011) at Buryatzoloto, Suzdal and Aprelkovo, with lower production at Lefa, Taparko, Berzitovy and Neryungri due to temporary mechanical bottlenecks that have been rectified
  • The increased average realised gold price of $1,689 per ounce over the quarter had a positive impact on cash flow and earnings with revenue at $264 m

Significant progress on greenfield and debottlenecking projects

  • Lefa — initial three drill rigs and an excavator have arrived at the mine site. Five dump trucks are expected in May 2012. Pebble crusher is on track for July 2012 start
  • Taparko — regrind mill and two additional leach tanks to start in June 2012
  • Berezitovy — installation of the secondary crusher and a new penion is on track for June 2012
  • Gross prefeasibility study to be available in May/June this year; first production expected in late 2013
  • Bissa — construction phase progressing on schedule; arrival of mining fleet 50% complete; first production to begin in 1H 2013

The Company continues to expect gold production for the full year to be in the range of 800 and 850 koz. Significant production growth in H2 will be primarily driven by

  • Lefa — initial three drill rigs and an excavator have arrived at the mine site. Five dump trucks are expected in May 2012. Pebble crusher is on track for July 2012 start
  • Seasonality at Russian heap leach mines and launch of heap leach at Berezitovy
  • Mining higher grade zones at Lefa and material increase in mill productivity with a launch of a pebble crusher
  • Elimination of mechanical bottlenecks at Taparko and Berezitovy
“Nordgold has been impacted in the quarter by mine-specific issues which have been identified and fixed, and production has returned to our forecast rates. I anticipate a strong second half and expect the investments we have made across our portfolio, including new mining equipment and enhanced processing systems, will ensure we meet our 2012 and 2013 production targets. Finally, work at our major development projects of Bissa and Gross is on schedule and on budget and we expect first gold at Bissa in H1 2013.” Nikolai ZelenskiCEO of Nordgold

Telephone Conference and Q&A Session

Nordgold CEO Nikolai Zelenski will present Company’s operational results and will provide details of Nordgold’s growth plans for 2012.

Nordgold will host a conference call today at 1 pm London time to present its operational results for the first quarter of 2012. The presentation will be followed by a Q&A session. To participate in the telephone conference, please register in advance.

Registration Details

Conference Title: Nordgold Presentation of Operational Results for the First Quarter of 2012

Conference ID: 4533259

Please use one of the following dial-in numbers to connect to the conference:

8-10-800-2-198-4011 (toll free)

United Kingdom
+44-20-7190-1590 (local access)
0800-358-5258 (toll free)

+1-480-629-9678 (local access)
+1-877-941-8633 (toll free)

+49-6971-044-5555 (local access)
0800-330-4463 (toll free)

To register and participate in the webcast please follow the link:

You can connect to the conference or view its recording using a mobile phone, iPhone or iPad


The Company’s operational results for the first quarter of 2012 will be available on the company’s official website:



Alexey Shchedrin
Head of Financial Communications & Investor Relations
Tel: +7 (917) 502 2048


Peter Ogden
James Devas
Tel: +44 (0)20 7379 5151

Apply for a job

work Format Contact information Professional data

Select the work format

Enter your personal information

Enter your contact information

Please enter professional data

Attach your resume

Drag and drop a file here or

select file Acceptable file format:. pdf,. doc,. docx,. rtf
Acceptable file format:. pdf,. doc,. docx,. rtf

Thank you! Your request was successfully submitted

Our recruiter will process the application
and contact you soon


Thank you! Your message has been sent

Application form

Dear candidate,
We are happy to welcome you as a participant of The Fast Track program selection process. Please fill in the application form below. Please ensure that the content of application form is accurate before submitting. Please carefully save the form and be aware it was submitted by the first time. Unfortunately you couldn't save the form and return for it's editing later. We wish you good luck during the selection process and will be happy to see you in Nordgold.

Photo upload

Contact information

Career disciplines*

Currently the applications flow is open for all 4 career disciplines. Please choose one of them if your professional specialization is relevant

Relocation possibilities*


Work experience*

Add new

Upload attachment*


Upload resume

Cover letter*

Dear candidate,
You are welcome to leave a cover letter. Among the other things, you may answer the following questions: Why do you want to work at Nordgold? And why are you our best choice for this program?

Upload letter

Additional information

Add new

I've gained the information regarding the Fast Track program from (choose one of the answers or propose yours):