GV Gold Board of Directors recommends dividend for 1H 2018
The Board of Directors of GV Gold (Vysochaishy, PJSC), together with its subsidiaries (“GV Gold”, “Vysochaishy” or the “Company”), one of the largest and fastest growing gold producers in Russia, has recommended a dividend for 1H 2018 of RUB 18.551942 per share.
The proposed dividend payment would total RUB 1,020 million, or 30% of the Company’s EBITDA for the first half of 2018. The Board’s recommendation is subject to approval at an Extraordinary General Meeting of shareholders (EGM) scheduled for 29 September 2018.
GV Gold (Vysochaishy, PJSC) is one of largest and fastest growing Russian gold mining companies. It develops open pit deposits and washes gold at the country’s largest alluvial deposit. In 2017, the Company produced 225 koz of gold, becoming the 7th largest gold miner in Russia. In 2018, the Company expects to produce
Its key operating assets are located in the Irkutsk Region and the Republic of Sakha (Yakutia). The Company operates four mines with a total capacity of 8 mtpa of ore and holds 20 mining and exploration licenses. GV Gold boasts an extensive resource base, with JORC reserves and resources estimated at 4.4 moz and 7.0 moz, respectively.
The Company adheres to high corporate governance standards and has a transparent ownership structure, with BlackRock among its shareholders (17.99%).
For further information, please visit http://gvgold.ru