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Presentation to Mining Indaba

9 Feb 2016 07:00

RNS Number : 4721O
Nord Gold N.V.
09 February 2016
 

Nordgold - Presentation to Mining Indaba

West Africa an important part of Nordgold's international development pipeline

 

· CEO Nikolai Zelenski to present to Mining Indaba 2016 in Cape Town today

· Burkina Faso central to Nordgold's extensive international growth pipeline

· New low-cost Bouly mine under construction, expected to complete in H2 2016

· Feasibility studies for three further projects in Burkina Faso completed

 

Cape Town, South Africa, February 9, 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 Mining Indaba 2016 conference today.

Mr Zelenski will set out Nordgold's proven strategy, explaining how a dedicated focus on cost reduction and operating excellence has allowed the Company to generate meaningful free cash flow, in turn enabling it to continue to pay dividends and advance its extensive international growth pipeline.

Nordgold has a long track record of successful operation in West Africa. The Company has been present in Burkina Faso since 2008 and Guinea since 2010 and the region is an important part of the Company's growth strategy. Nordgold currently operates three mines in the region, which in 2015 accounted for over half its total production of 950 koz. In particular, Nordgold successfully planned, developed and built its flagship Bissa mine in Burkina Faso, which produced 235 koz in 2015 and it is working on the Bouly project, which is under construction and expected to be completed in the second half of the year.

Nordgold finalised a feasibility study for three other new projects in Burkina Faso in 2015: Yeou (Taparko mine satellite), Zinigma and Ronguen (Bissa mine satellites). Mining Licence applications for these projects were submitted in 2015. Background work with local communities at Yeou, Zinigma and Ronguen is ongoing in anticipation of the licences being granted. These projects will provide high-quality ores for the Bissa and Taparko processing facilities to extend their Life of Mine.

In concluding, Mr Zelenski will set out his strategic priorities for Nordgold in 2016. The Company is targeting controlled profitable production growth while maintaining its highly competitive position on the cost curve. Nordgold's strong balance sheet, with no major debt payments due until 2018, and consistent free cash flow generation, enable it to continue investing in its exciting pipeline of low cost development projects, despite the weaker price environment. The Company will also continue to target high quality opportunities complying with its strict project acquisition criteria in Burkina Faso, elsewhere in West Africa, and worldwide.

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 shortly www.nordgold.com/investors-and-media/presentations/

 

About 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 2015, Nordgold produced 950 thousand ounces of gold.

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.

For further information on Nordgold please visit the Company's website: www.nordgold.com

Enquiries

Nordgold

 

Valentina BogomolovaHead of IR

Tel: +7 (495) 644 4473valentina.bogomolova@nordgold.com

Olga UlyevaHead of Media Relations

Tel: +7 (495) 644 4473olga.ulyeva@nordgold.com

Powerscourt

 

Ian MiddletonGiles ReadTessa Berry

Tel: +44 (0) 20 7250 1446

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this press release, including any information as to Nordgold's estimates, strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance and production, may constitute "forward-looking information" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, constitute forward-looking information. Forward-looking information can often, but not always, be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words, or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. The purpose of forward-looking information is to provide the reader with information about management's expectations and plans. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking information involves significant risks, assumptions, uncertainties and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information and, accordingly, should not be read as guarantees of future performance or realities. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting Nordgold's operations will continue substantially in their current state, including, without limitation, with respect to industry conditions, general levels of economic activity, market prices for gold, competition for and scarcity of gold mine assets, achievement of anticipated mineral reserve and mineral resource tonnages or grades, ability to develop additional mineral reserves, acquisition of funding for capital expenditures, adequacy and availability of production, processing and product delivery infrastructure, electricity costs, continuity and availability of personnel and third party service providers, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, and that there will be no unplanned material changes to Nordgold's facilities, equipment, customer and employee relations and credit arrangements. Nordgold cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Nordgold and there is no assurance that they will prove correct. The risks and other factors that may cause actual future realities or anticipated events to differ materially from those expressed or implied in any forward-looking information include, but are not limited to Nordgold's ability to execute its development and exploration programs; the financial and operational performance of Nordgold; civil disturbance, armed conflict or security issues at the mineral projects of Nordgold; political factors; the capital requirements associated with operations; dependence on key personnel; compliance with environmental regulations; estimated production; and competition.

Actual performance or achievement could differ materially from that expressed in, or implied by, any forward-looking information in this press release and, accordingly, investors should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made, and Nordgold does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or realities after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable Canadian securities laws. All forward-looking information contained in this press release is qualified by such cautionary statements. New risk factors emerge from time to time, and it is not possible for management to predict all of such risk factors and to assess in advance the impact of each such factor on Nordgold's business or the extent to which any factor, or combination of factors, may cause actual realities to differ materially from those contained in any forward-looking information. 

 

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