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NASEDKINO
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terrancekeenan
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July 14, 2016 - 5:40 pm
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Bit more info on Nasedkino

It seems like some sort of agreement was signed on June 16, 2016 between Sergie`s gold operating group (Mangazeya Zoloto - they operate all of Mangazeya`s properties) and the government of the Trans-Baikal Territory.  I don`t think it was a financing agreement or anything like that.  My guess is Mangazeya will finance the Nasedkino project through a Russian bank.  Whatever papers were signed, it probably bodes well for the regional government being very supportive of the project. 

With the way things are coming together for Nasedkino, I wouldn`t be surprised if Sergie is getting close to lining up project financing - maybe at some point within the next several months.  I think the recent turnaround of the gold price will allow the banks to be more receptive of a debt financing for the project.

I found 2 summary articles about this June 16, 2016 meeting.  I can only view that summary versions though, as I don`t have subscriptions.  I think most of the key info is already in the summary.

Bringing Nasedkino into production is expected to cost around US $55 million (or 3.5 billion Russian Rubles.

They are aiming to produce 2.5 to 3.5 tonnes of gold per year at Nasedkino, with gold production starting in 2018.  That is about 89,000 to 124,000 ounces of gold production per year.  I think the 70,000 ounces per year shown in the Corporate Presentation represents initial start up production, using a  simple approach at the beginning.

It says 900 jobs to be created from putting the Nasedkino Mine into production.  As such, not only is it good for the company but it also benefits the local people and the government.

``Mangazeya to invest 3.5 bln rubles in Nasedkino, produce 2.5-3.5 t of gold/year

ST. PETERSBURG. June 16 (Interfax) - Mangazeya Zoloto, a gold mining division of Sergei Yanchukov's Mangazeya Group, signed an agreement with the government of Trans-Baikal Territory at the St. Petersburg International Economic Forum, an Interfax correspondent reported from the signing ceremony.

Mangazeya plans to build a mine and processing plant at the Nasedkino deposit in Trans-Baikal at an estimated cost of 3.5 billion rubles.

The operation will have capacity to mine 1 million tonnes of ore and produce 2.5-3.5 tonnes of gold per year.

Construction of the plant will begin in 2016, and the company plans to put it into operation in 2018.

Mangazeya Zoloto manages the production and exploration units of Mangazeya Group's gold mining division in Trans-Baikal.

Mangazeya Group is a Russian private vertically-integrated company focused on gas production, gold mining and construction.``

``Mangazeya to launch Nasedkino GOK in Trans-Baikal region in 2018``

 

``Mangazeya Zoloto (a part of the Mangazeya Group) plans to start commercial operation of mining and processing enterprise (GOK) at the Nasedkino gold deposit in the Trans-Baikal region in 2018, investments will amount to 3.5 billion rubles, said general director of the Mangazeya Group of Companies Sergei Yanchukovvo during the signing ceremony of the investment agreement with the government of the Trans-Baikal region at the St. Petersburg international economic forum.

"The beginning of the construction works is planned for 2016. It is expected that the plant will start its work in 2018. The new plant will annually mine and process one million tons of ore and produce from 2.5 to 3.5 tons of gold, - Yanchukov said. - 900 jobs will be created at the plant".

 

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