Seligdar discussed its development plans at Moscow Exchange International Forum

Seligdar took part in the International investment forum hosted by Moscow Exchange and co-hosted by SOVA Capital. Sergey Ryzhov, Chairman of the Board of Directors, and Olga Samarets, Head of IR, represented the Company. During the forum, Seligdar had meetings with institutional investors to discuss the Holding’s performance and growth perspectives.

Plans to revise the Sustainable development strategy:

  • The Holding’s reserve base significantly increased and more than doubled during the last year due to the addition of Kyuchus gold deposit and Pyrkakay stockworks tin deposit.
  • Significant reserve base growth demands to reconsider the Sustainable development strategy. The third revised strategy is planned to be developed with new performance targets as 20 tons of annual gold production and 16 thousand tons of annual tin production.
  • Twice the production target of gold compared to 10 tons set in the effective strategy is related to the license agreement conditions on the Kyuchus deposit according to which the annual gold production should reach at least 10 tons after the project full ramp up.

Dividend payment and operating results issues communicated at Q&A:

  • In 2021, production growth is expected in both gold and tin divisions compared to 2020.
  • The Board of Directors does not intend to consider a question of interim dividend payment for 9 months of 2021 due to the undergoing conversion of preferred shares into ordinary shares.
  • The Company’s cash flow is sufficient for the dividend payment to shareholders and the Board of Directors plans to address matters related to dividend payment after the conversion have been finished.
2020 Annual Report (pdf, 9 Мб)
25.01 09:05
1841 $/oz -0.04%
51.16 -4.39%