GREY:HRIVF - Post by User
Post by
MightyWingmanon Mar 09, 2010 9:36am
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Post# 16859912
Blast Off
Blast OffFrom Severstal's Statements:
Our gold business has grown rapidly over the last couple of years and is making a
significant contribution to Severstal’s performance. In 2009, it contributed $236 million to
the Resource Division’s EBITDA as a result of favourable gold prices and organic growth in
production units. The cash cost per ounce of production fell by 7.3% to an average of
$434 in 2009 and 534 Koz of gold were produced during the year (FY 08: 193 Koz),
making our gold business the second largest Russian gold producer. Our focus for this
business is to further improve operational and financial efficiencies.
Is HRG ready to fly???........I'd say YES!!!!!
MW