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Thursday, 23rd September 2004 (4243 views)

Highland Gold Mining has announced today that it has been given a licence for production and exploration rights at a gold mine in Russia.<BR/><BR/>The Taseyevskoye deposit in Russia's Chita Siberian region cost the company $25.5 million, according to Reuters.<BR/><BR/>Resources at the deposit have been proven to be 32 tonnes of gold, but a feasibility study is to be consulted first which the British firm believes will reveal larger resources.<BR/><BR/>Highland managing director Ivan Kulakov said: "The price which works out at $15 per resource ounce is an attractive price for an asset with enormous potential in an area where we already have extensive infrastructure."<BR/><BR/>The main gold asset for the firm in Russia is the Mnogovershinnoye mine in Russia's far east, which produced around six tonnes of gold in 2003.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3462231"/>

 

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