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Nikolay Zelensky: Nordgold now has a very balanced state
We are now in a very good condition: our costs have significantly decreased, to one of the lowest in the world (the cost price, taking into account capital investments in operating assets, decreased by 2014% in 19 to $ 887 per ounce of gold), in addition, we We are increasing production - says the CEO of Nordgold in an interview with Vedomosti.
Free cash flow almost tripled, to $ 180 million, EBITDA at the end of the year increased to $ 487 million, and operating cash flow - to $ 329 million, despite the fact that part of the gold was not sold last year due to low prices.
Net debt (decreased by 13,3% - from $ 723,9 million to $ 627,3 million) is constantly decreasing due to the generation of free cash flow, so now the ratio of net debt to EBITDA is 1,3.
Plus, we have two projects that we are ready to build - Bouly in Burkina Faso and Gross in Yakutia. There is also a portfolio of projects at the geological exploration stage, which we are gradually developing, Nikolai Zelensky explained.