OREANDA-NEWS. November 13, 2009. In the III quarter of 2009 the production of gold by GV GOLD Group of Companies increased by 26% in comparison with the II quarter of 2009 and amounted to 1 181.8 kg (38.1 thousand oz). The growth of production mainly resulted from the increase of the ore volumes mined and processed at the Mining and Processing Plant "Vysochaishy".

The volumes of mining operations significantly (threefold) increased due to the advance new reserves' stripping.

Construction of the new processing plant (Processing Plant 3) is carried out on Golets Vysochaishy deposit in accordance with the approved business plan (plant's bulk construction is completed and processing equipment installation has started).

Assembling of the 400 liter bucket dredge (with the depth of digging up to 30 m) is carried out at the Big Kuranakh deposit. Commissioning of this unit will allow the Company to significantly increase the volumes of gold mined and sold starting from 2011.

The planned prospecting and exploration operations are continued on the flanks of Golets Vysochaishy deposit and the Khomolkho Ore Field properties.
The Company has developed and tested the exploration technology for the Big Kuranakh deposit and has obtained the first positive results.

The Company has completed a feasibility study of the new constant conditions (ore quality standards) and submitted a set of approved documents to the State Reserves Committee (GKZ).

All the facilities of GV Gold Group of Companies are ready for the winter season.

The revenues from sales of gold for 9M of 2009 totaled to 2 503.8 million rubles - a 19% increase in comparison with 9M of 2008 (2 101.1 million rubles).

In accordance with the Russian Accounting Standards, GV GOLD 9M 2009 net profit totaled to 995.17 million rubles - 12% increase in comparison with 9M 2008 results (889.76 million rubles).

The Company plans to further keep a positive tendency of the main production and financial indices' growth.