16 Aug 2022 13:50

Seligdar consolidates Yursky with 4 tonnes in gold reserves

MOSCOW. Aug 16 (Interfax) - Russian gold miner Seligdar has become the sole owner of Yursky, a company that holds licenses to deposits with gold reserves of 4 tonnes, the company said.

Yursky holds the licenses to alluvial deposits in the eponymous river, as well as the Orto-Sala River and Timpton River (Kolbochi area).

Seligdar did mining work at the Yursky property on a contract basis in 2020, when Seligdar shareholders acquired an equity interest in the company. Seligdar initially acquired a 60% stake, then increased its interest to 70% and finally consolidated 100% as a result of a number of transactions.