Russia's Nord Gold Q3 revenue up 27 pct yr/yr

MOSCOW Thu Oct 11, 2012 2:41am EDT

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MOSCOW Oct 11 (Reuters) - Nord Gold, Russia's third-largest gold producer, reported on Thursday a 27 percent year-on-year increase in third-quarter revenue to $322.5 million thanks to higher sales.

Gold sales rose 29 percent, which was partially offset by a 2 percent fall in realised gold prices to $1,670 per troy ounce.

Its gold equivalent production - a measure of gold and other metals expressed in units of gold - rose 9 percent, year-on-year, and 17 percent, quarter-on-quarter, to 194,000 ounces, the company, controlled by businessman Alexei Mordashov, said.

Nord Gold, which also has operations in Kazakhstan and West Africa, confirmed its full year 2012 production guidance of 720,000 to 770,000 ounces of gold equivalent. (Reporting by Polina Devitt; Editing by Maria Kiselyova)

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