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Seligdar continues to expand its gold reserves

05.03.2024

Seligdar Polymetallic Holding (MOEX: SELG; hereafter Seligdar) reports an increase in ore and gold reserves at its main mining complex – Nizhne-Yakokitskoye ore field located in the Republic Sakha (Yakutia).

Based on the results of the exploration in 2016 – 2022, 14.3 tonnes of balance gold reserves at the Trassovoye deposit and 4.9 tonnes at the Verkhneye deposit were confirmed by the State Commission on Mineral Reserves (GKZ) in 2023. The both deposits are parts of the Nizhne-Yakokitskoye ore field. The total increase in gold balance reserves at these deposits for 2023 amounted to almost 15 tonnes of gold excluding mined reserves. Doré gold production at the Nizhne-Yakokitskiy production complex comprised 3.1 tonnes in 2023.

The total balance gold reserves of the Seligdar companies increased from 271.7 tonnes as at the end of 2022 to 282.3 tonnes as at the end of 2023.

During the current year, Seligdar will continue to work on the gold reserves in Yakutia. Additional reserves are planned to be registered at the Nizhne-Yakokitskoye ore field – that of the Khvoynoye, Smezhnoye and Nadezhda deposits where an additional increase in gold reserves by 16 tonnes is expected before the end of 2024.


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