News and Press-releases

Krasny, LLC (GV Gold (Vysochaishy, OJSC) subsidiary) was granted the license for the right to use the Ruchey Krasny site subsurface

09.07.2015 — Krasny, LLC, a joint venture of GV Gold (Vysochaishy, OJSC), holding 51% of equity, and Kopy Goldfields АВ, won the auction for the right to use the Ruchey Krasny site (Bodaibo Area, Irkutsk Region) subsurface for geological surveying, exploration and production of placer gold. The total prognostic resources of the P2 category amount to 30 kg.

The license area is located within the contour of Krasnoye hardrock deposit license, already held by Krasny, LLC, where the exploration operations are currently carried out.

In the future, favorable location of the placer license within the boundaries of the Krasnoye hardrock deposit design open pit will allow for improvement of the development efficiency of both licenses, among other factors, due to the future stripping operations optimization.