OREA - NG reportsFor those interested in NG’s progress. They are making money with record production in 2020 plus the millions gained from their sale of the large holding in Cardinal Resources. Will they buy, hold or sell when it comes to Montagne d’Or? 2021 may tell. Nord Gold posts record output in 2020, expands Gross mine Vladimir Basov Tuesday January 19, 2021 11:41 (Kitco News) - Nord Gold, the internationally diversified gold producer, today announced record production results for the twelve months ended 31 December 2020.
The company said that its record production of 1,045.6 thousand ounces of gold equivalent (koz) was marginally up on 2019 (1,041.1 koz), despite the challenges presented by the unprecedented global pandemic. The strong production results were mainly driven by the Gross, Taborny, Taparko, Irokinda, Berezitovy and Suzdal mines, more than offsetting lower production at the Bissa, Bouly and Lefa mines.
Nord Gold’s flagship Gross mine, in the highly prospective Gross district of Yakutia (Russia), increased production by 7% year-on-year to 278 koz.
The company added that it has successfully increased the mining and processing capacity of Taborny mine in the Gross mining district from 5 million to 7.5 million tonnes of ore per year.
Nord Gold noted that it expects to increase mining and processing capacity of its largest mine, the flagship Gross mine, by approximately 24% to approximately 18 million tonnes of ore per year from the third quarter of 2021, up from 14.5 million tonnes of ore processed in 2019, following the completion of a two year expansion project that began in 2020.
The company confirms it was automatically converted from Nord Gold SE to Nord Gold UK Societas on 31 December 2020, following the end of the Brexit transition period. Nord Gold remains domiciled in the United Kingdom and formed in accordance with the UK law.
Nord Gold operates 10 mines (5 in Russia, 3 in Burkina Faso and one each in Guinea and Kazakhstan). It has several prospective projects in feasibility study, advanced and early exploration phases in Burkina Faso, Russia, French Guiana and Canada. Nord Gold employs over 8,000 people.
GLTA -
https://twitter.com/EarthsRare