Currently viewing Global edition

Higher gold output for Highland

Highland Gold Mining saw combined gold output from its Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora operations in Russia increase 4.4% year-on-year in the September quarter to 74,826 ounces.
Higher gold output for Highland Higher gold output for Highland Higher gold output for Highland Higher gold output for Highland Higher gold output for Highland

Work is continuing to expand the Novo mine

Staff reporter

This brought total production for the January-September period to 203,747oz,  0.1% higher on the year.

Highland affirmed its full-year target of 265,000-275,000oz of gold.

It said production at MNV was 80,031oz for the first nine months of 2018, rising 2.4% on the year, due to higher grades, which had made up ground after the March quarter's reduced capacity.

Higher grades and recoveries at Belaya Gora were offset by 7.7% lower processing plant throughout at 1.175 million tonnes, which led to steady year-on-year production of 322,481oz.

On the contrary, Novo gold equivalent output for the nine-month period fell 2% to 91,235oz on lower recoveries and grades, although work continued to expand the mine.

A drilling programme began at Novo earlier in the year with the aim of developing a more detailed geological model of the deposit and optimising mining activities.

During the September quarter, drilling was done on ore bodies below 637.5m, with nine of the 26 boreholes completed.

Highland's shares (AIM:HGM) were up 1.04% on the news to £1.46 (US$1.91) per share.