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Key Highlights

36% 260 koz

GV Gold total production in 2018

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

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40% 9.9 Mt

Annual ore throughput

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

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RUB 3.1 B

Dividends planned for 2018

The Company paying persistently high dividends amounting to %30 of the IFRS EBITDA.

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Gold Production
koz 2015 181 164 225 304 260 2016 2017 2018 2019
EBITDA
M USD / EBITDA Margin, % 55 53 47 45 36 2015 EBITDA, million USD 117 109 128 164 120 2016 2017 2018 2019 EBITDA margin, %
TCC
USD / oz 2015 417 463 462 541 741 2016 2017 2018 2019
2018 2019 Y-o-Y, %
Rock mass, kt 44 959 83 809 86%
Overburden stripped, kt 36 967 72 468 96%
Ore mined, kt 7 993 11 341 42%
Stripping ratio, t/t 4.6 6.4 39%
Ore processed, kt 8 210 9 986 22%
Gold production, koz 266.3 233 -13%
Gold in the gravity and flotation concentrate, koz 38.0 27 -29%
Total gold production, koz 304.3 260 -15%
Financial Performance
2018 2019 Y-o-Y, %
Gold sold, koz, including 299 242 -19%
Bar gold, koz 263 226 -14%
Gold in the gravity and flotation concentrate, koz 36 16 -54%
Average refined bar gold selling price, USD /oz 1 267 1 399 11%
Revenue, M USD, including: 361 355 -7%
Revenue from gold sales, M USD 333 316 -5%
Revenue from concentrate sales, M USD 27 16 -38%
Operating profit, M USD 127 75 -57%
Net profit, M USD 80 72 −10%
Adj. EBITDA, M USD 164 120 -27%
Adj. EBITDA margin, % 45% 36% −9 p.p.
Net cash inflow from operations, M USD 256 13 -95%
Capital expenditures, M USD 86 69 -19.8%
Total cash cost (TCC), USD /oz 541 754 39%
All-in sustaining cash cost (AISC), USD /oz 679 909 34%
Financial Position
2018 2019 Y-o-Y, %
Cash and cash equivalents, M USD 100 34 -66%
Net debt, M USD 72 202 180%
Net debt/EBITDA, х 0.5 1.6
Operating Highlights
2018 2019 Y-o-Y, %
Ore mined, kt 7 993 11 341 42%
Ore processed, kt 8 217 9 903 21%
Total refined gold production, koz 304 260 -15%
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.