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HGM Highland Gold Mining Ld

299.60
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Highland Gold Mining Ld LSE:HGM London Ordinary Share GB0032360173 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 299.60 299.80 300.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Highland Gold Mining Limited Company Cleared to Proceed with Kekura Development (0876H)

05/06/2017 7:00am

UK Regulatory


Highland Gold Mining Ld (LSE:HGM)
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From Mar 2019 to Mar 2024

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RNS Number : 0876H

Highland Gold Mining Limited

05 June 2017

HIGHLAND GOLD MINING LIMITED

05 June 2017

Highland Gold Cleared to Proceed with Kekura Development

Highland Gold Mining Limited ("Highland Gold" or the "Company", AIM: HGM) is pleased to announce that it has received clearance from the government of the Russian Federation for development of the Kekura gold deposit, in accordance with mining legislation that covers mineral deposits of "federal significance".

By virtue of its size, Kekura is designated under law as federally significant, thereby requiring the Company to apply for special dispensation to begin mining at the site. This permit is in addition to the standard exploration and mining licences already held by the Company for Kekura and the surrounding Stadukhinsky ore zone.

Kekura, located in the Chukotka region in Russia's Far East, is the Company's flagship development project with estimated JORC-compliant reserves of 1.7 million ounces of gold. Substantial exploration work and technical studies have already been completed at the site to date, along with initial infrastructure and building construction. A definitive feasibility study is currently in development and scheduled for completion this autumn, with a view towards beginning commercial production in 2020.

FOR FURTHER INFORMATION PLEASE CONTACT:

 
Highland Gold                    John Mann, Head of Communications 
                                  + 7 495 424 95 21 
                                  Duncan Baxter, Non-Executive Director 
                                  + 44 (0) 1534 814 202 
 
Numis Securities Limited         John Prior, James Black 
 (Nominated Adviser and Broker)   Paul Gillam 
                                  +44 (0) 207 260 1000 
Peat & Co                        Charlie Peat 
 (Joint Broker)                   +44 (0) 207 104 2334 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

June 05, 2017 02:00 ET (06:00 GMT)

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