Image credit: GV Gold
The company's website says that earlier, GV Gold did not float its shares in open markets.
“From the very first day, we saw the future of GV Gold exactly as a public company. The intention to place shares on the Moscow Stock Exchange reflects the impressive scale and results achieved by our company and a strong confidence in continued dynamic growth of our business. An IPO on the Moscow Stock Exchange will allow us to convey our growth story to a wide range of investors and to further diversify the shareholder structure,” said GV Gold CEO Vladislav Barshinov.
The company also plans to make certain changes to its corporate governance structure to comply with best international practices. Thus, the company will hold an EGM, which is scheduled for March 19, 2021. During the EGM a new Board of Directors is expected to be approved. It will include three new non-executive independent directors - Lu Naumovski, Alexey Gnedovsky and Sergey Popov.
Currently, GV Gold is one of the largest and fastest growing gold mining companies in Russia.
According to Vladislav Barshinov, the firm has an extensive resource base and high-quality assets. It operates in the Irkutsk Province and the Republic of Sakha (Yakutia), the two areas in Russia, which are most rich in gold.
GV Gold also intends to launch two new strategic projects to maintain growth, Krasny and Svetlovskoye, which will allow the company to achieve its medium-term goal of increasing its annual production to more than 400,000 ounces of gold by 2025.
GV Gold's proved and probable reserves by JORC stand at 5.3 million ounces with an average grade of 1.2 gpt, while measured and indicated resources amount to 10.8 million ounces.
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