Nordgold – Presentation to Mining Indaba
West Africa an important part of Nordgold’s international development pipeline
- CEO Nikolai Zelenski to present to Mining Indaba 2016 in Cape Town today
- Burkina Faso central to Nordgold’s extensive international growth pipeline
- New low-cost Bouly mine under construction, expected to complete in H2 2016
- Feasibility studies for three further projects in Burkina Faso completed
Cape Town, South Africa, February 9, 2016 - Nord Gold N.V. ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces that Nikolai Zelenski, Chief Executive Officer, will present to the Mining Indaba 2016 conference today.
Mr Zelenski will set out Nordgold’s proven strategy, explaining how a dedicated focus on cost reduction and operating excellence has allowed the Company to generate meaningful free cash flow, in turn enabling it to continue to pay dividends and advance its extensive international growth pipeline.
Nordgold has a long track record of successful operation in West Africa. The Company has been present in Burkina Faso since 2008 and Guinea since 2010 and the region is an important part of the Company’s growth strategy. Nordgold currently operates three mines in the region, which in 2015 accounted for over half its total production of 950 koz. In particular, Nordgold successfully planned, developed and built its flagship Bissa mine in Burkina Faso, which produced 235 koz in 2015 and it is working on the Bouly project, which is under construction and expected to be completed in the second half of the year.
Nordgold finalised a feasibility study for three other new projects in Burkina Faso in 2015: Yeou (Taparko mine satellite), Zinigma and Ronguen (Bissa mine satellites). Mining Licence applications for these projects were submitted in 2015. Background work with local communities at Yeou, Zinigma and Ronguen is ongoing in anticipation of the licences being granted. These projects will provide high-quality ores for the Bissa and Taparko processing facilities to extend their Life of Mine.
In concluding, Mr Zelenski will set out his strategic priorities for Nordgold in 2016. The Company is targeting controlled profitable production growth while maintaining its highly competitive position on the cost curve. Nordgold’s strong balance sheet, with no major debt payments due until 2018, and consistent free cash flow generation, enable it to continue investing in its exciting pipeline of low cost development projects, despite the weaker price environment. The Company will also continue to target high quality opportunities complying with its strict project acquisition criteria in Burkina Faso, elsewhere in West Africa, and worldwide.
No new material financial or trading information will be disclosed during the presentation.
A copy of the presentation will be available to download from the Nordgold website shortly.
Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer, established in 2007 and publicly traded on the London Stock Exchange. The Company has expanded rapidly through carefully targeted acquisitions and organic growth, achieving a rate of growth unmatched in the industry during that period. In 2015, Nordgold produced 950 koz of gold. The Company operates 9 mines and has 2 development projects, 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licenses in Burkina Faso, Guinea, Russia, Kazakhstan, French Guiana and Canada. Nordgold employs more than 8,000 people.
For further information, please contact:
Head of IR
Tel: +7 495 644 4473
Head of Media Relations
Tel: +7 495 644 4473
Tel: +44 (0) 20 7250 1446