Highland Gold completes acquisition of Valunisty mine in Chukotka

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MOSCOW, December 31. /TASS/. Russia’s gold miner Highland Gold announced on Monday it has completed the acquisition of the Valunisty mine in Chukotka, Russia’s Far East.

“Highland Gold Mining Limited (“Highland Gold” or the “Company”, AIM: HGM) today reports that, further to its announcement on 20 December 2018, it has completed the acquisition of the Valunisty mine and related companies from Aristus Holdings Limited (“Aristus”) after receiving confirmation of the legal transfer of ownership of the assets being acquired,” the company said in a statement on its website.

The company issued 38,621,343 ordinary shares of Ј0.001 each to Aristus.

In spring 2018, Highland Gold announced its intention to purchase from the Cyprus-based Aristus Holdings (owned by Millhouse of Roman Abramovich and his partners) three gold-bearing assets in Chukotka. The deal price was $91 mln.

Operations of Highland Gold are located around three main hubs in the Khabarovsk, Zabaikalsky and Chukotka regions of Russia, as well as in Kyrgyzstan in Central Asia. The company currently has three operating mines, three development projects, and three exploration properties. Main shareholders are Eugene Shvidler (12.6%), Prosperity Capital Management (9.8%), Roman Abramovich (8%).

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