Seligdar announces operating results for 9M2021

PJSC Seligdar (MOEX: SELG, hereafter Seligdar or Holding) announces operating results for the nine months ended September 30, 2021, based on management data.

The Holding produced 5,420 kg of gold and more than two thousand tons of tin in concentrate. The total revenue from metals sales comprised RUB 23.7 billion for the period.

Gold Division

  • Ore mining amounted to 14.4 million tons compared to 9.0 million tons for the 9 month of the previous year and increased by 60%. The sand mining totaled 0.97 million m3.
  • Gold production amounted to 5,420 kg for the 9 months of 2021. The result includes alluvial gold production that was not recorded in the data for 9 months of 2020. The ore gold production of the Holding companies comprised 5,124 kg that made a 0.4% increase compared to the same period of the previous year.
  • The gold sales of the Holding companies amounted to 4,681 kg in January-September 2021 and kept the same level compared to 2020. The sales of gold produced under contract agreements are not recorded in the IFRS consolidated revenue of PJSC Seligdar and are excluded from the sales volume, which totalled 4,460 kg for the 9 months of 2021 against 4,221 kg in January-September of 2020.

Tin division

  • Ore mining increased by 14% y-o-y and totaled 406 thousand tons.
  • Ore processing grew by 9% y-o-y up to 399 thousand tons.
  • Production of tin in concentrate for the 9 months of 2021 amounted to 2,079 tons, it is a 13% increase compared to the same period of 2020.
  • Production of tungsten in concentrate in January-September 2021 comprised 38 tons against 60 tons y-o-y.
  • Production of copper in concentrate grew by 63% up to 243 tons.

Sales

Revenue from gold sales of the Holding companies for the 9 months of 2021 comprised 19.9 billion rubles, it is a 4% increase compared to the 9 months of 2020. Average realised price increased by 3%.

Revenue from gold sales for 9 months of 2021 excluding sales under contract agreements that are not recorded in the IFRS consolidated revenue of PJSC Seligdar, comprised 19.0 billion rubles, it is 9% higher than in January-September of the previous year.

Revenue from sales of tin, tungsten and copper concentrates for the 9 months of 2021 doubled and amounted to 3.8 billion rubles.

Total revenue from sales of gold; tin, tungsten and copper concentrates realized by the Holding companies increased by 13% up to 23.7 billion rubles.

 

Gold division results

 

9M2021

9M2020

Change

Ore mined, million tons

14.4

9.0

60%

Sand mined, million m3

0.97

Gold produced, kg

5,420

5,104

6%

              including ore gold, kg

5,124

5,104

0.4%

Gold sold, kg

4,681

4,629

1%

Gold sold, recorded in the IFRS consolidated revenue, kg

4,460

4,221

6%

 

Tin division results

 

9M2021

9M2020

Change

Ore mined, thousand tons

406

354

14%

Ore processed, thousand tons

399

368

9%

Tin in concentrate produced, tons

2,079

1,844

13%

Tungsten in concentrate produced, tons

38

60

-37%

Copper in concentrate produced, tons

243

149

63%

2020 Annual Report (pdf, 9 Мб)
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MOEX: SELG
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