Highland Gold Mining completes feasibility study for Russia project
Source - SMW
Highland Gold Mining estimated that an upgrade of its Belaya Gora operation in Russia would cost around $36m.
The capital expenditure estimate was part of a pre-feasibility study and included $21m in 2023 to move mining activity from Belaya Gora to Blagodatnoye and $15m for upgrades to the Belaya Gora processing plant.
The study also included a resource upgrade for the combined Belaya Gora and Blagodatnoye operation, with total gold reserves now pinned at 932k oz at a grade of 1.44 g/t.
At 2:26pm: (LON:HGM) Highland Gold Mining Ltd share price was -6p at 144.3p