Key Developments: Highland Gold Mining Ltd (HGM.L)
81.00GBp
20 May 2013
-1.00p (-1.22%)
82.00p
82.00p
82.00p
80.50p
622,393
809,534
134.25p
75.50p
Latest Key Developments (Source: Significant Developments)
Highland Gold Mining Ltd Announces Acquisition And Debt Facility With Gazprombank
Highland Gold Mining Ltd announced the acquisition of 100% of CJSC Bazovye Metally which holds the mining and exploration rights to the Kekura gold deposit and surrounding licence area, for a consideration of USD212 million. An additional USD11 million will be paid in H2 2013 to a contractor upon the successful launch of the pilot plant which is currently being completed. The consideration will be in cash and will be funded via a new debt facility of USD250 million with Gazprombank, which facility will also allow for additional group operational working capital. The acquisition has received approval to proceed from the Russian anti-monopoly authorities. Full Article
Highland Gold Mining Ltd Issues FY 2013 Production Guidance
Highland Gold Mining Ltd announced that for fiscal 2013, it expects production of (MNV, Novo and Belaya Gora) is forecast to be in the range of 225,000 - 240,000 oz of gold and gold equivalents. Full Article
Highland Gold Mining Ltd's Stanmix Holding Ltd Receives Permission From FAS To Acquire 100% Stake in Bazovye metally ZAO-WPS Russian Media Monitoring Agency
WPS Russian Media Monitoring Agency reported that the Russian Federal Anti monopoly Service (FAS) has provided Highland Gold Mining Ltd's wholly owned subsidiary, Stanmix Holding Ltd, with the permission regarding the acquisition of a 100% stake in Bazovye metally ZAO. Highland Gold Mining Ltd estimated the asset's value at USD 300-400 million. Full Article
Highland Gold Mining Ltd Acquires The Western Flank Exploration Property Adjacent To Mnogovershinnoye Mine
Highland Gold Mining Ltd announced the acquisition of a license for exploration and mining rights for the Western Flank, a 3.9 km² property immediately adjacent to the Company's existing Mnogovershinnoye (MNV) mine operations. The acquisition resulted from an open auction held on December 6 in the regional capital of Khabarovsk for a bid price of 8.690 million roubles (ca. USD280,322). This new license area includes the highly prospective Chaynoye zone which has good potential to deliver new resources at MNV. Full Article
Highland Gold Mining Ltd Completes Acquisition Of Klen Gold Deposit
Highland Gold Mining Ltd announced that with reference to the announcement on June 1, 2012 and following approval of the transaction by the Russian anti-monopoly authorities, Highland Gold Mining Limited, the Company announced the completion of the LLC Klen acquisition. LLC Klen holds the mining and exploration rights to the Klen gold deposit and the adjacent Verkhne-Krichalskaya property located in the Chukotka autonomous region in north-eastern Russia. Full Article
Highland Gold Mining Ltd Announces Board Changes
Highland Gold Mining Ltd announced the appointment of Eugene Shvidler as Non-Executive Chairman of Highland with immediate effect. Mr Shvidler was appointed to the Board in January 2008. Duncan Baxter remains on the Board as an independent non-executive director. Full Article
Highland Gold Mining Limited Announces Sale Of Shares By Barrick Gold Corporation
Highland Gold Mining Limited announced that further to the announcement of February 13, 2012, Highland Gold has on April 26, 2012 received confirmation of the completion of Barrick's sale of 66,235,264 ordinary shares in Highland Gold (the Shares), representing Barrick's entire holding in the Company and 20.37% of the Company's issued share capital. The share sale was completed on April 26, 2012 by way of an accelerated bookbuild with institutional investors and effected at a price of 120p per Share. Full Article
Barrick Gold Corp To Sell 20.4% Stake In Highland Gold Mining Limited
Highland Gold Mining Limited (Highland) announced that Barrick Gold Corporation (Barrick)has decided to sell its approximate 20.4% shareholding in Highland. Barrick intends to divest its shareholding in Highland in an orderly process. Barrick has appointed HSBC Bank plc as its lead financial advisor to assist in Barrick's divestiture of its shareholding in Highland. Further details on the structure of this divestiture will be announced in due course. Full Article
Highland Gold Mining Limited Issues FY 2012 Production Guidance
Highland Gold Mining Limited announced that production for fiscal 2012 (MNV, Novo and Belaya Gora) is forecast to be in the range of 200,000 - 215,000 oz of gold and gold equivalents Full Article
Highland Gold Mining Limited Closes Novoshirokinskoye Deal
Highland Gold Mining Limited announced that further to the announcement made by the Company on November 23, 2011, Highland Gold Mining Limited announced that the transaction between Stanmix Holding Limited (a wholly owned subsidiary of the Company) and its joint venture partner LLP Kazzinc for the acquisition of Kazzinс's 48.3% share in the Open Joint Stock Company Novo-Shirokinskiy Rudnik the owner of the Novoshirokinskoye mine has completed following approval by the Russian anti-monopoly authorities. This acquisition will result in the Company's stake in Novo increasing to 96.6%. Stanmix Holding Limited will shortly notify the remaining minority Novo shareholders of their right to redeem the 3.4% of the voting shares owned by them. Highland Gold acquired the Kazzinc 48.3% share in Novo for USD47.5 million and USD62.5 million as repayment of Kazzinc's share of intercompany debt. The acquisition and the repayment were financed through the Company's existing cash reserves. Full Article
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