Nordgold’s Howard Golden to present at the 2016 PDAC Forum
Exploration adds value to growth oriented gold producer
- Nordgold Exploration Director, Howard Golden, presents at this year’s PDAC in Toronto, Canada
- Strong short, medium and long-term development pipeline will underpin the future growth
Toronto, Canada, March 8, 2016 – Nord Gold N.V. ("Nordgold" or the "Company", LSE: NORD), the internationally diversified low-cost gold producer, announces that Exploration Director, Howard Golden, presents at the 2016 PDAC Corporate Presentation Forum today.
Nordgold has two projects in the construction phase (Bouly in Burkina Faso and Gross in Russia) and, in the medium term, four further projects that are currently in the development phase (based in Burkina Faso and French Guiana). 11 additional projects are in the advanced and early stages of exploration and are expected to come to fruition over the next 10 years, giving Nordgold one of the most compelling development pipelines in the gold sector. Nordgold benefits from highly efficient production assets, and strong cashflow generation which enables it to continue delivering attractive returns to shareholders and investing in its development pipeline.
Mr Golden will focus on the Company’s exploration strategy. With growth as a key focus for Nordgold, in addition to effective in-house exploration, the Company continues to look for quality projects to add to its pipeline. Mr Golden will set out the Company’s strict criteria for potentially viable gold projects: they must be located in mining-friendly jurisdictions with non-refractory ore and 2Moz of potential reserves at a grade of 2g/t and with a low to moderate strip ratio. He will also outline Nordgold’s current exploration activities and explain how the company’s robust project pipeline will help to underpin the future growth of the Company.
Mr Golden will also provide an update on the progress of its two projects under construction: Bouly and Gross. With key infrastructure already in place, production at Bouly is expected to commence in the second half of 2016, and should help Nordgold to produce over 1 Moz in the near future. Gross is expected to produce c. 230 koz of gold per year for 17 years, adding value to Nordgold in the long term.
As with Nordgold’s flagship Bissa mine in Burkina Faso, both projects benefit from low capital intensity, with low capital and production costs, central to any investment decisions taken by the Board. Bissa had capex of less than a thousand dollars per ounce of production. As a result Bissa fully paid back the invested capital within 21 months after the launch. Bouly, Gross and Montagne d’Or projects will follow the Bissa pattern and enable Nordgold to generate strong returns to its shareholders.
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 from midday.
Nordgold (LSE: NORD) is an internationally diversified low-cost gold producer established in 2007 and publicly traded on the London Stock Exchange. Nordgold has a proven track record of operational excellence and benefits from a significant international development pipeline. The company is relentlessly focused on shareholder value, committed to running safe, efficient, profitable operations, which enable it to generate strong cashflows and in turn, continue to invest in its pipeline of new growth opportunities while generating returns for investors. In 2015, Nordgold produced 950 koz of gold with all-in sustaining costs of US$793 per ounce, maintaining its position at the lower end of the global cost curve.
Nordgold operates 9 mines (5 in Russia, 2 in Burkina Faso and one each in Guinea and Kazakhstan). It has 2 active development projects (Bouly in Burkina Faso and Gross in Russia), 4 advanced exploration projects and a diverse portfolio of early-stage exploration projects and licences in Burkina Faso, Russia, French Guiana and Canada. Nordgold employs over 8,000 people.
For further information, please contact:
Head of IR
Tel: +7 495 644 4473
Head of Media Relations
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Tel: +44 (0) 20 7250 1446