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Key Highlights

5% 272 koz

GV Gold total production in 2020

A strategic vector of our development is strengthening of our leadership positions in the industry.

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5% 10.5 Mt

Annual ore throughput

The Company implemented a large-scale exploration program and acquired a new license

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RUB 4.5 B

Dividends planned for 2020

The Company paying persistently high dividends amounting to %40 of the IFRS EBITDA.

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Gold Production
koz image/svg+xml 2016 164 225 304 260 272 2017 2018 2019 2020
EBITDA
M USD / EBITDA Margin, % image/svg+xml 53 47 45 36 53 2016 EBITDA, million USD 109 128 164 120 248 2017 2018 2019 2020 EBITDA margin, %
TCC
USD / oz image/svg+xml 2016 462 530 541 723 694 2017 2018 2019 2020
2019 2020 Y-o-Y, %
Rock mass, kt 83,809 101,227   21%
Overburden stripped, kt 72,468 92,561 28%
Ore mined, kt 11,341
8,665 -24%
Stripping ratio, t/t 6.4
10.7 67%
Ore processed, kt 9 986
10,500 5%
Gold production, koz 233
243 4%
Gold in the gravity and flotation concentrate, koz 27
30 10%
Total gold production, koz 260
272 5%
Financial Performance
2019 2020 Y-o-Y, %
Gold sold, koz, including 242
276 14%
Bar gold, koz 226
245 8%
Gold in the gravity and flotation concentrate, koz 10
29 2.8x
Average refined bar gold selling price, USD /oz 1 372     1 701     24%
Revenue, M USD, including: 335
471 41%
Revenue from gold sales, M USD 316
430 36%
Revenue from concentrate sales, M USD 16
38 134%
Operating profit, M USD 75
199 2.7x
Net profit, M USD 72
137 90%
Adj. EBITDA, M USD 120
248 2.1x
Adj. EBITDA margin, % 36%
53% 17 p.p.
Net cash inflow from operations, M USD 13
212 16.4x
Capital expenditures, M USD 109 100 9%
Total cash cost (TCC), USD /oz 723
694 (4%)
All-in sustaining cash cost (AISC), USD /oz 936
822 (12%)
Financial Position
2019     2020     Y-o-Y, %
Cash and cash equivalents, M USD 34 28 (16%)
Net debt, M USD 202 191 (6%)
Net debt/EBITDA, х 1.69x 0.77x
Operating Highlights
2019 2020 Y-o-Y, %
Ore mined, kt 11,341     8, 665     -24%
Ore processed, kt  9,986 10,500 5%
Total refined gold production, koz 260 272 5%
Proved and Probable Reserves (P & P) estimation as for 01.07.2017
Deposit Ore,
kt
Grade,
g/t
Gold,
kg
Gold,
koz
Golets Vysochaishy 23 721 1,08 25 616 824
Ykanskoye 2 730 1,97 5 373 173
Ozhereliye 435 2,63 1 143 37
Krasny* 7 342 1,09 7 999 257
Ugakhan 23 875 1,07 25 627 824
Drazhnoye 7 651 3,09 23 602 759
TOTAL hard rock gold 65 754 1,36 89 360 2 874
Bolshoy Kuranakh** 212 243 226 47 970 1 542
TOTAL 137 330 4 415
Measured, Indicated and Inferred Resources (M, I & I) estimation as for 01.07.2017
Deposit Ore,
kt
Grade,
g/t
Gold,
kg
Gold,
koz
Golets Vysochaishy 24 575 1,09 26 798 862
Ykanskoye 2 875 2,23 6 423 207
Ozhereliye 1 198 3,21 3 844 124
Krasny* 26 054 1,78 46 416 1 492
Ugakhan 38 466 1,11 42 810 1 376
Drazhnoye 9 223 3,50 32 272 1 038
TOTAL hard rock gold 103 591 1,50  158 563 4 993
Bolshoy Kuranakh** 168 447 299 50 418 1 962
TOTAL 208 981 6 955

* No account taken of the ownership stake.
** The volume of sands is measured in ‘000 m3 and the grade is measured in mg/m3 . Only the gravity gold data were used in the statement.