Highland Gold Mining Ltd. (HGM)

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Share Price:
299.80p
Market Cap:
1,090.96m
Change Today:
0.20p
Sector:
Mining

Highland Gold subsidiary receives licence for Krasnaya Gorka

By Josh White

Date: Tuesday 17 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Highland Gold Mining announced on Tuesday that its wholly-owned subsidiary, AO Mnogovershinnoye (MNV), has received an exploration licence for the Krasnaya Gorka deposit, which is a greenfield site in the Nikolaevsk district of Russia's Khabarovsk region.
The AIM-traded firm said the licence was issued for seven years, by the Far Eastern District Department for Subsoil Use.

It said the licence covered an area of 96.7 square kilometres, on the main road that connects the district administrative centre, Nikolaevsk-na-Amur, to Highland Gold's Belaya Gora and MNV mines.

The site is also about halfway along the 40 kilometre distance between Belaya Gora and the firm's Blagodatnoye licence.

Like Blagodatnoye, Krasnaya Gorka was being targeted to provide additional resources for processing at the Belaya Gora mill, Highland Gold said.

"According to the licence, Krasnaya Gorka contains Russian-standard P2 category prognosticated resources of gold, silver, lead, zinc, copper and molybdenum that will need to be confirmed and updated by Highland Gold's geologists," the board said in its statement.

"The company will prepare an exploration programme over the course of this year and carry out preliminary preparations for the work, which is expected to commence in 2021."

At 1252 GMT, shares in Highland Gold Mining were down 6.18% at 160.9p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HGM Market Data

Currency UK Pounds
Price 299.80p
Change Today 0.20p
52 Week High 301.00p
52 Week Low 150.60p
Volume 1,442,356
Shares Issued 363.90m
Market Cap 1,090.96m

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