Barrick touts ‘world-class’ potential of Fourmile project with significant resource boost
For the next stage of the Fourmile project, Barrick plans to start a three-year prefeasibility study in 2025.
Highland Gold Mining, backed by Russian billionaire Roman Abramovich, has posted weak 1H 2012 financial results. Net profit dropped by 64% to USD 45 million despite revenue growth of 2.1% to USD 161 billion.
HGM said that costs increased by 66% to USD 804 per ounce, partly due to the decline in ore grades at the Mnogovershinnoye and Novoshirokinskoye mines.
During the conference call, Highland Gold management said that the company is considering a few acquisition deals.
The company is interested in assets in Russia and the CIS that are already operational or close to becoming operational.
Source (Russian): Kommersant
