Russia, High River Gold

Russia increased gold production by 16.6%

Russia increased gold production by 16.6% to 216.972 tons, extracted either primary or in associated production of non-ferrous metal including processing of scrap metal and waste and gold-bearing concentrates, the Russian gold producers union reports.
Within the period, Russia increased primary gold production by 11.3% to 175.204 tons, processing of scrap metal and waste and gold-bearing concentrates by over 2 times to 26.66 tons, and associated production by 1.3% to 12.726 tons.

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Nordgold needs minority shareholders

The company is ready to exchange its shares for assets.
The gold mining company Nordgold of A. Mordashov, is not satisfied with its capitalization and wants to increase the liquidity of its shares by raising the amount in free-float. But the company is afraid to offer new shares in the market with the unfavorable environment and instead is ready to use its shares in the M&A deals. Nordgold already used this scenario in 2013 at the consolidation of the Canadian High River Gold but analysts doubt if this scheme can be repeated in the current environment.
Nordgold controlled by A. Mordashov (holds 84.4%) might hold a deal for its shares with some underestimated companies thus increasing its free-float, the CEO, N. Zelensky said. According to him, the limited free-float of Nordgold is a “serious problem”, the liquidity of shares is very low and their price doesn’t correspond to the value of business. “The company’s multiples are 3 times less than the average in the market”, he said. The company thinks that over 25% of shares in free circulation will provide for good liquidity. Nordgold is interested in the assets in America and Africa but the top-manager didn’t say if the negotiations are held. Meanwhile Nordgold is not ready to offer the additional shares in the market. “The market conditions are not favourable to increase the free-float”, Mr. Zelensky said.

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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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