Media

The Polymetallic Holding Group Seligdar (hereinafter referred to as the “Holding Group” or “Seligdar”) (MOEX: SELG) has held the first spring session of its Technical Council this year. The event was attended by the heads of all key structural divisions of Seligdar and the Holding Group’s management.

Particular attention was paid to the development of the mineral reserve base and improving the efficiency of production complexes. During the discussion of HR policy, a positive trend in average wages was noted, as well as the creation of new jobs to service new production facilities being brought into operation.

At the Kyuchus deposit, engineering surveys have commenced for the construction of facilities for the future production complex. In February, documentation for the feasibility study of permanent conditions was submitted for expert review to the Federal State Budgetary Institution “State Commission on Mineral Reserves”. As a result of this review, an increase in reserves and the approval of permanent conditions are expected. The Holding Group is also finalising the preparation of a Pre-Feasibility Study (PFS).

Interim results have been summarised for the significant volume of work carried out in the area of technical modernisation of production facilities to increase metal production volumes. Given the consistently favourable market conditions and high gold prices, one of the priorities for the Holding Group’s immediate development period will be work with work-in-progress (WIP); sustaining investments in operating facilities. The Holding Group will continue to search for optimal technologies to achieve maximum metal recovery efficiency by leveraging its own scientific base.

Such a strategy will enable the Holding Group to improve its financial performance and accumulate resources for the next phase of qualitative business growth.