GV Gold’s output rises 36% to 304,000 ounces in 2018

MOSCOW, Jan 28 (PRIME) -- Gold output of GV Gold rose 36% to 304,300 ounces in 2018 thanks to higher efficiency on all facilities and as the plants on Taryn and Ugakhan reached their design capacity, the company said in a statement on Monday.

Sales grew 37% to 299,000 ounces with the average price amounting to U.S. $1,255 per ounce, and revenue rising 32% to $357 million.

GV Gold’s net debt amounted to $72 million as of the end of 2018, more than halving on the year.

In 2019, the company plans to produce 305,000–325,000 ounces of gold.

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