Seligdar announces operating results for 1Н2022

Seligdar PJSC (MOEX: SELG, hereafter Holding or Seligdar), a Russian gold and tin producer, announces operating results for 1H2022 based on management data. Gold production by the Holding’s companies comprised 2,500 kg. Production of tin in concentrate amounted to 1,254 tonnes. Total revenue from metals sales reached 10.8 billion Russian roubles for 1H2022.

Gold division

  • Ore mining comprised 7.3 million tonnes against 9.8 million tonnes for the same period of the previous year. Reduction of mining volumes is due to the outpacing growth of ore mining in 2021 and processing of accumulated stock.
  • Gold production comprised 2,500.3 kg for 1H2022 and showed a 12% growth year-on-year.
  • Gold sales of the Holding’s companies comprised 1,585 kg in 1H2022 against 1,858 kg in the previous year. Excluding gold produced under contract agreements (not recorded in the IFRS consolidated financial statements of Seligdar PJSC) the gold sales comprised 1,537 kg for 1H2022 against 1,816 kg in the previous year. The decrease in gold sales along with an increase in production volumes is due to the current sales policy.

Tin division

  • Ore mining comprised 294 thousand tonnes in 1H2022 and showed a 10% growth year-on-year.
  • Ore processing grew by 6% up to 283 thousand tonnes for 1H2022.
  • Production of tin in concentrate totalled 1,254 tonnes in 1H2022.
  • Production of tungsten in concentrate grew by 50% and reached 36 tonnes.
  • Production of copper in concentrate increased 2.6-fold up to 446 tonnes. A significant increase in production volume is driven by higher copper grade in the ore.

 Sales

  • The 6M2022 revenue from gold sales amounted to 7.0 billion Russian roubles against 7.9 billion Russian roubles in the previous year. The decrease is due to the reduction in the sales volume. Average realised gold price increased by 3% year-on-year.
  • Revenue from gold sales excluding gold produced under contract agreements (not recorded in the IFRS consolidated financial statements) comprised 6.8 billion Russian roubles against 7.8 billion Russian roubles in the previous year.
  • The 1H2022 revenue from sales of tin, tungsten and copper concentrates increased 1.5-fold compared to the same period of the previous year and amounted to 3.8 billion Russian roubles.
  • Total revenue from sales of gold and tin, tungsten, copper concentrates comprised 10.8 billion Russian roubles for 1H2022 having increased by 2% year-on-year.

 

Gold Division Results

 

6M2022

6M2021

Change

Ore mined, million tonnes

7.3

9.8

-25%

Ore mined on dry weight basis, million tonnes*

7.0

Sand mined, million m3

0.22

0.11

95%

Gold produced, kg

2,500

2,238

12%

Gold sold, kg

1,585

1,858

-15%

Gold sold, recorded in the IFRS consolidated financial statements, kg

1,537

1,816

-15%

 *Starting 2022, Seligdar undergoes transition to recording mined ore on dry weight basis.

 

Tin Division Results

 

6M2022

6M2021

Change

Ore mined, thousand tonnes

294

268

10%

Ore processed, thousand tonnes

283

267

6%

Tin in concentrate produced, tonnes

1,254

1,386

-10%

Tungsten in concentrate produced, tonnes

36

24

50%

Copper in concentrate produced, tonnes

446

173

158%

 

 

2021 Annual Report (pdf, 16 Мб)
09.12 15:05
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MOEX: SELG
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