Highland Gold Regulatory News (HGM)



Regulatory News for Highland Gold (HGM)


Share Price: 80.25Bid: 80.00Ask: 81.00Change: 0.00 (0.00%)No Movement on Highland Gold
Spread: 1.00Spread as %: 1.25%Open: 79.75High: 81.50Low: 79.00Yesterday’s Close: 80.25





Production Update

Mon, 14th Nov 2011 07:00

RNS Number : 9763R
Highland Gold Mining Limited
14 November 2011
 

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Highland Gold Mining Limited - Production Update

 

14 November 2011 - Highland Gold Mining Limited ("Highland Gold") announces that its production guidance for the year to 31 December 2011 has been revised to 190,000 oz - 200,000 oz of gold and gold equivalents (from the previously announced 210,000 oz - 220,000 oz), principally due to a requirement for additional open pit waste stripping during Q4 in order to access high grade ore at Mnogovershinnoye (MNV) and also to the bad weather conditions noted earlier in the year.

 

This reduction in production is expected to have a broadly similar effect on EBITDA for the period. Cash flows remain strong and there will be no impact upon Highland's operational, capex and project pipeline commitments.

 

Highland Gold expects to access higher grades at MNV in the coming weeks and remains focused on ramping up production at Novoshirokinskoye, in addition to continued project development and exploration goals.

For further information please contact: 

Highland Gold
Dmitry Yakushkin, Head of Communications - 
+ 7 495 424 95 21
Duncan Baxter, Chairman - + 44 (0) 1534 814202

Numis Securities Limited
Alastair Stratton / Stuart Skinner, Nominated Adviser -
+44 (0) 207 260 1000
 James Black, Corporate Broking -
+44 (0) 207 260 1000
 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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