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highland gold mining ltd (HGM) Snapshot

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04/30/13 - €1.01
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highland gold mining ltd (HGM) Details

Highland Gold Mining Limited engages in the acquisition and development of gold mining assets in the Russian Federation and Kyrgyzstan. Its principal property includes the Mnogovershinnoye (MNV) mine located in the Nikolaevsk area of the Khabarovsk Territory in the far-east of the Russian Federation. The company also holds interests in various properties situated within the Khabarovsk and Zabaikalsky regions of the Russian Federation, as well as in Kyrgyzstan in Central Asia. Highland Gold Mining Limited was incorporated in 2002 and is headquartered in St.Helier, the Channel Islands.

Founded in 2002

highland gold mining ltd (HGM) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: $490.9K
Chief Financial Officer, Executive Director a...
Total Annual Compensation: $406.4K
Head of Exploration & Capital Projects Develo...
Total Annual Compensation: $124.7K
Head of Human Resources & Administration and ...
Total Annual Compensation: $148.0K
Compensation as of Fiscal Year 2012.

highland gold mining ltd (HGM) Key Developments

Highland Gold Mining Limited Recommends Final Dividend Payable on May 30, 2014; Reports Audited Consolidated Earnings and Production Results for the Year Ended December 31, 2013; Provides Production Guidance for the Fiscal Year 2014

The Board of Highland Gold Mining Limited recommended a final dividend of GBP 0.025 per share which, taking into account the interim dividend paid in October 2013, gives a total dividend of GBP 0.05 per share for the year compared to GBP 0.078 per share in 2012. The final dividend will be paid on 30 May 2014 to shareholders on the register at the close of business on 2 May 2014 (the record date). The ex-dividend date will be 30 April 2014. The company reported audited consolidated earnings and production results for the year ended December 31, 2013. For the year, the company reported revenue of USD 304,206,000 against USD 351,828,000 a year ago. Operating profit was USD 77,019,000 against USD 129,302,000 a year ago. Profit before income tax was USD 82,061,000 against USD 157,959,000 a year ago. Profit for the year attributable to equity holders of the parent was USD 54,463,000 or USD 0.167 per basic and diluted share against USD 126,347,000 or USD 0.388 per basic and diluted share a year ago. Net cash flows from operating activities were USD 94,700,000 against USD 137,600,000 a year ago. Purchase of property, plant and equipment was USD 143,706,000 against USD 125,028,000 a year ago. EBITDA was USD 132,749,000 against USD 179,002,000 a year ago. The Group's net debt position as at December 31, 2013 amounted to USD 251.2 million compared to a net cash position as at December 31, 2012 of USD 52.6 million. For the year, the company reported group wide production rose 8% to a record 233,696 oz of gold and gold equivalents against 216,885 oz a year ago. This is in line with guidance estimate and represents the combined contribution from the Group's three mines: Mnogovershinnoye, Novoshirokinskoye and Belaya Gora. The company provided production guidance for the fiscal year 2014. For the period, total production in 2014 is expected to increase to more than 300,000 oz of gold and gold equivalents.

Highland Gold Mining Ltd., 2013 Earnings Call, Apr 23, 2014

Highland Gold Mining Ltd., 2013 Earnings Call, Apr 23, 2014

Highland Gold Mining Ltd. Reports Operating Results for the Second Half and Year Ended December 31, 2013; Provides Production Guidance for the Year Ending December 31, 2014; Announces Executive Changes

Highland Gold Mining Ltd. reported operating results for the second half and year ended December 31, 2013. For the second half, a total of 76,263 ounces of gold was produced in line with the company's targets. Process plant throughput amounted to 657,527 tonnes of ore, while the recovery rate remained strong at 92%. The plant's cyanidation process was improved through the installation and commissioning of a mechanical agitator. Mined volumes, from both open-pit and underground operations, increased to 811,811 tonnes in H2 2013, thereby exceeding volumes achieved during first half of 2013 by 33%. Production in second half amounted to 44,727 oz of gold equivalents which represents a solid 22% increase compared to the first half of the year. An upgrade of the milling circuit during the period served to increase efficiency. Average processed grades were 25% higher compared to second half of 2012 and 14% higher compared to first half of 2013. This increase was in line with the mining plan and was achieved following the successful completion of the required development work. Underground development totaled 3,993 metres with full year 2013 development exceeding the comparable figure for 2012 by 14%. For the year, Production of gold and gold equivalents rose 8% to a record 233,696 oz. This encompassed the respective outputs of the Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora mines; 35,000 metres resource conversion drilling completed at Kekura on schedule. For the year ending December 31, 2014, the company expects its production to increase to between 300,000 - 320,000 oz of gold and gold equivalents. The company announced the appointment of Colin Belshaw as an Independent Non-Executive Director. Mr. Belshaw has held numerous operating and corporate positions, including responsibility for Kinross Gold Corporation's Kubaka and Birkachan mining operations in Russia. Following the expiry of Brent Horochuk's contract with the company as Chief Operating Officer since 2009. Yury Ryabov, who joined the company in 2009 as Technical Director, has been appointed First Deputy Chief Executive Officer.


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Price/Cash Flow 4.1x
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