December 5, 2017, Akmola region, Schuchinsk. RG Gold continues preparatory works for the design of a new CIL plant to process primary ores from the North and South Raigorodok deposits. The combined reserves and resources of two deposits, according to JORC, are estimated as 85 tonnes (2.7 million ounces) and 145 tonnes (4.7 million ounces) respectively. The significant resource base offers a bright future for the company.
Two major projects in support of the Definitive Feasibility Study are currently underway. Firstly, a metallurgical testwork program which will provide the basis for the process plant design. This work is being supervised by Australian consultants Lycopodium and is due to be substantially completed in March with the final report being issued in April. Secondly, Australian consultants AMC are updating the JORC resource model taking into account the additional 20 thousand linear meters of core drilling, not included in the reserves and resources released earlier this year. This study is due for completion late February.
RG Gold intends to continue geological explorations at the deposit and has developed an additional exploration program at for the Novodneprovskaya contract territory. In addition an EIA report for this project is being prepared.
As a result of the auction conducted by the Ministry of Investments and Development of the Republic of Kazakhstan on November 28, 2017, RG Gold obtained the subsoil use rights for the exploration at another potential deposit, Komsomolsky, located in the Akkol district of Akmola region, which is in line with its business expansion strategy. The site covers an area of 15.9 square kilometers. In the near future, the Company will start development of a geological exploration program for this site.
RG Gold LLP is a mining company operating in the Burabay district of Akmola region on the Novodneprovskaya contract territory, which includes Novodneprovskoye, North and South Raigorodok fields. The total area of the contract territory is 67.7 square kilometers. Currently, the Company is working with oxide ores from North and South Raigorodok pits by heap-leaching. The sole shareholder of RG Gold LLP is Verny Capital group of companies
Verny Capital comprises one of the largest groups in Kazakhstan specialized in direct equity investments into private companies. The company was founded in 2006. Portfolio companies of the group are represented by different industries such as natural resources, telecommunications and media, consumer goods and services, transportation and logistics, construction materials, real estate and hospitality. For many years, Verny Capital has successfully cooperated with international strategic investors, helping them to access capital and markets of Kazakhstan and the CIS, bringing its experience and expertise into the partnerships.