Seligdar announces operating results for 1Q2022

Seligdar PJSC (MOEX: SELG, hereafter Holding or Seligdar), a Russian gold and tin producer, announces operating results for 1Q2022 based on management data. Gold production by the Holding’s companies comprised 689 kg. Production of tin in concentrate comprised 542 tons. The revenue from metals sales totalled 7.2 billion roubles.

Gold division

  • The run-of-mine material comprised 6.9 million cubic meters in 1Q2022 against 7.1 million cubic meters in 1Q2021, which was due to the early preparation to 2022 washing season at the alluvial deposits in 2021.
  • Ore mining increased by 8% year-on-year and totalled 3.5 million tons.
  • Gold production comprised 689 kg, a 5% decrease compared to the same period of the previous year, which was driven by the projected lower grade ore treated at the processing plant in 1Q2022.
  • The gold sales of the Holding’s companies grew by 37% year-on-year up to 870 kg in 1Q2022.

Tin division

  • Ore mining increased by 3% year-on-year and reached 121 thousand tons in 1Q2022.
  • Ore processing also grew by 3% up to 132 thousand tons.
  • Production of tin in concentrate totalled 542 tons against 674 tons in 1Q2021, amid expected decrease in mined tin ore grade in 1Q2022.
  • Production of tungsten in concentrate grew by 61% year-on-year and comprised 16 tons.
  • Production of copper in concentrate increased by 111% compared to the same period of the previous year and reached 181 tons.

 

 

Sales

  • The 1Q2022 revenue from gold sales amounted to 4.4 billion roubles and increased by 62% year-on-year amid growth of sales volume by 37% and that of average realised gold price by 18%.
  • The revenue from sales of tin, tungsten and copper concentrates increased 2.7 times against the same period of the previous year and comprised 2.8 billion roubles in 1Q2022.
  • Total revenue from sales of gold; tin, tungsten and copper concentrates comprised 7.2 billion roubles in 1Q2022 having increased by 91% year-on-year.

 

Gold Division Results

 

1Q2021

1Q2022

Change

Run-of-mine material, million m3

7.1

6.9

-3%

Ore mined, million tons

3.3

3.5

8%

Gold produced, kg

724

689

-5%

Gold sold, kg

634

870

37%

 

Tin Division Results

 

1Q2021

1Q2022

Change

Ore mined, thousand tons

117

121

3%

Ore processed, thousand tons

127

132

3%

Tin in concentrate produced, tons

674

542

-20%

Tungsten in concentrate produced, tons

10

16

61%

Copper in concentrate produced, tons

86

181

111%

 

 

 

2021 Annual Report (pdf, 16 Мб)
09.12 14:05
1807 $/oz +0.36%
MOEX: SELG
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