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Nordgold will retain its stake in the Canadian company Northquest
The international gold mining company Nord Gold NV announces the full exercise of its right to purchase new shares of the Canadian exploration company Northquest Ltd. in proportion to its share in the private placement of Northquest.
Nordgold acquired 3 075 000 Northquest common shares for a total of 369 000 Canadian dollars (approximately $ 326 636).
As of 26 November 2014, Nordgold owns a total of 15 852 777 ordinary shares and additionally 6 388 889 convertible securities of Northquest, totaling 23,7% of Northquest's issued and outstanding shares.
Northquest owns the Pistol Bay project, an asset with a high gold content at the exploration stage, located on the territory of Nunavut in northern Canada on the western shore of Hudson's Bay.
Nordgold is an independent international gold mining company, founded in 2007. The company has considerable experience in achieving sustainable growth through increased production efficiency, as well as the launch of new mines, which is reflected in the constant increase in the company's value.
The leading gold producer in emerging markets with operating enterprises in Russia, Kazakhstan, Burkina Faso and Guinea.
Diversified portfolio of assets: 9 mines, 2 development project, 4 exploration project with localized resources.
Significant resource base (JORC): resources - 34,7 million gold equivalent ounces, reserves - 12,6 million ounces. The service life is about 13 years, a wide portfolio of geological exploration projects and individuals.