Vysochayshy keeps extraction at the level of 2014

​Vysochayshy OJSC (GV Gold) on the results of Jan-September keeps extraction at the level of Jan-September 2014 – 7.3 tons, CEO S. Vasiliev said.

We fulfill the plan. In 2015, 4 tons of gold have been produced at the objects of the Irkutsk project, 310 kg – at the Aldan project. By the end of 2015 the extraction volume will make up slightly over 5.5 tons, he said.

Monetary expenditure in H1 2015 makes up 932 roubles per gram of gold or $508/ounce. On the results of 2015, the monetary expenditure is expected at $472/ounce, which is by about 28% less than in 2014.

Today all gold miners make good money on the account of the gold price in roubles, even the smallest ones. The shareholders know what to do with this profit – dividends and development. Now there is an opportunity to spend more of the operational profit on development – into new projects. So we don’t only increase the amount of dividends but reduce the need in borrowed funds, Vasiliev said.