Nordgold buys back $132,000 in GDR, increasing total to $1.4 mln

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Nordgold buys back $132,000 in GDR, increasing total to $1.4 mln

MOSCOW. March 6 (Interfax) - Russian gold miner Nordgold has spent another $132,185 to purchase 50,000 company global depositary receipts (GDR) on the market (0.0131% of charter capital) at an average price of $2.64 each, the company reported.

Since the buyback program was launched, Nordgold has purchased 604,530 GDR (0.1587%) at a total cost of about $1.4 million.

Nordgold will continue the buyback until it has spent $30 million or until December 31, 2015. It will pay no more than $4 per share/GDR. The latest deal it transacted was at $2.5 per share/GDR.