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News and Press-releases

Reorganization of the GV Gold (GV Vysochaishy) Yakutia assets management

<p>The Meeting of GV Gold (Vysochaishy) Shareholders, which took place on August 25, 2014 in Moscow, approved a reorganization of the Company via the consolidation of its 100% subsidiaries — Aldgold Mining Company, CJSC and Technoresource, CJSC.</p>
<p>The reorganization is carried out for the purposes of simplification of the holding management structure and reduction of the administrative costs. It is planned that SAKHA Gold Mining, CJSC, the Company’s subsidiary responsible for management of the Yakutia assets, which at the moment carries out large-scale investments in construction of the deep-digging dredges, from now on will also focus on the operating activity on development of the B.Kuranakh River placer deposit and other placer properties. Implementation of the Taryn ore field’s hardrock projects will be carried out by another GV Gold’s subsidiary — Taryn Gold Mining Company, CJSC.</p>