Russia-focused HGM output falls by 11% to 63,482 ounces in Jan–Mar

MOSCOW, Apr 22 (PRIME) -- The output of U.K. Highland Gold Mining (HGM), which mines in Russia, fell by 11.3% to 63,482 ounces of gold and gold equivalent in January–March, the company said in a statement on Wednesday.

Production at the Mnogovershinnoye deposit fell 16% to 25,723 ounces of gold, at the Novoshirokinskoye fell 5% to 21,135 ounces of gold equivalent, at the Belaya Gora dropped 18% to 9,665 ounces of gold, and at the Valunisty decreased 4.7% to 6,959 ounces of gold.

The average sale price amounted to U.S. $1,593 per ounce.

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