Highland Gold Acquired the Boulder Mine in Chukotka
OREANDA-NEWS The gold mining company Highland Gold announced the closing of the transaction for the acquisition of the Boulder mine in Chukotka. The message was published on Monday on the company's website.
"Highland Gold, in addition to the announcement of December 20, 2018, informs about the closing of the transaction for the acquisition of the Boulder mine and related companies from Aristus Holdings Limited and the receipt of official notification of the transfer of ownership of assets," the report said.
In addition to the Boulder with an annual production of 31 thousand ounces (data for 2017), the perimeter of the transaction included Kanchalano-Amguemskaya area, located near the Boulder and includes a mining quarry And a section of Vein, and exploration area Kayenmyvaam 130 km from one of the Kinross Gold mines.
In the spring of 2018, Highland Gold announced its intention to purchase three gold-bearing assets in Chukotka from Cyprus Aristus Holdings (the structure of Roman Abramovich's Millhouse and its partners). The transaction amount is $ 91 million.
The activities of Highland Gold is concentrated around the three major production centers in Khabarovsk and Baikal territories and the Chukotka Autonomous district. The company owns three operating mines, a number of development projects and exploration areas, one of which is located in Kyrgyzstan. The main shareholders of Highland Gold are Evgeny Shvidler (12.6%), Prosperity Capital Management (9.8%), Roman Abramovich (8.0%).
Previously HGM have already acquired assets from major shareholders. So, in 2012 the company bought field Maple c resources 627 Koz of gold in the Chukotka region for $69 million While actively HGM is working on a different project in the region — purchased from "Base metals" Kekura field, with reserves of 1.7 million ounces of gold (investment is estimated at $229 million, to start production in 2021).