December 5, 2017, Akmola region, Schuchinsk. RG Gold announces that the planned annual gold production and stacked ore during 2017 were achieved. Actual ore stacked was in excess of 1.3 million tonnes versus a planned 1,26 million tonnes. Whilst gold recovered into Dore was 1024 kg (32.9 thousand ounces), against a planned production of 1004 kg (32.3 thousand ounces). Mining operations are continuing at the North Raigorodok and South Raigorodok pits. During 2017 a total of 4.5 million cubic meters of rock has been mined. Ore mined at North Raigorodok exceeded 700 thousand tonnes, and at the South – 590 thousand tonnes.
The Company is progressing with the increase of its processing capacity as part of its previously announced project “Construction of a mining and hydrometallurgical complex with a capacity of 2.0 million tonnes of ore per year in the Burabay district of Akmola region”. Construction of following are underway: third crushing and agglomeration line, hydrometallurgical complex, pumping facility and repair workshop. Construction of all infrastructure facilities are nearing completion. This expansion will increase the mine annual gold production by 50% to 1400-1500 kg (45-48 thousand ounces) by 2018. This project will also create more than 100 new jobs.
RG Gold is a part of the Verny Capital Group.
The Novodneprovskoe territory includes North and South Raygorodok gold deposits. According to international standards JORC (2012), the total resources of North and South Raygorodok deposits are estimated at 145 tonnes of gold, commercial reserves are estimated at 85 tonnes (reports were prepared by Wardell Armstrong International). According to local GKZ standards, the total gold reserves of South Raygorodok approved in 2017 are 68.6 tonnes. Estimation of reserves of North Raygorodok is underway. According to the same standards, total gold reserves for both deposits under С1 and С2 categories will not be less than one hundred tones, a three times increase since the Group has entered into this project.
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.