Media

Seligdar PJSC (MOEX: SELG, hereafter Seligdar or Holding), a Russian gold and tin producer, announces that the Federal Subsoil Resources Management Agency (Rosnedra) issued a license for the Kyuchus deposit development to White Gold LLC. This deposit is one of the largest gold ore deposits in Russia and the second largest in the Republic of Sakha (Yakutia).

In October 2021, White Gold LLC, a joint venture of Gold Asset Management LLC, a company of the Seligdar polymetallic holding, and RT-Business Development LLC, a subsidiary of the Russian State Corporation Rostec, won the auction for the license to develop the deposit. The total license payment comprised 7.735 billion roubles and was paid in full by the company.

Seligdar plans to start exploration this year, conduct technological sampling and carry out a feasibility study for the deposit development.

Under the terms of the subsoil license for the Kyuchus deposit, Seligdar should produce not less than 10 tons of gold annually since the project’s full ramp-up.