Business
UPDATE ON 2010 GOLD PRODUCTIO
UPDATE ON 2010 GOLD PRODUCTIO.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 3111Q KazakhGold Group Ltd 30 July 2010 \n \n\n\n\n\n\nFor immediate release\n \n\n\n30 July 2010\n\n\n\n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO CANADA, AUSTRALIA, JAPAN OR THE RUSSIAN FEDERATION, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF RELEVANT LAWS OR REQUIRE REGISTRATION THEREOF\n \nUpdate on 2010 Gold Production and Proposed Combination with Polyus Gold\n \nKazakhGold Group Limited (\"KazakhGold\") notes the statement released yesterday by its controlling shareholder, OJSC Polyus Gold (\"Polyus Gold\"), in relation to its proposed combination with KazakhGold (the \"Proposed Combination\"). KazakhGold welcomes this statement of continuing support for the Proposed Combination, which is reproduced in full below. As described in the statement, KazakhGold also confirms that its gold production in the six months ended 30 June 2010 increased by 36%, as compared with the corresponding period of 2009, and it currently estimates that its total gold production for 2010 will increase by approximately 50% as compared with 2009.\n \nText of the official statement of Polyus Gold:\n \n\"We are closely following developments in Kazakhstan as well as publications in the press concerning the acquisition by the Polyus Gold group of 50.1% of the shares of KazakhGold and the proposed combination of the companies. \n \nPolyus Gold management remains confident that the transaction to combine KazakhGold and Polyus Gold - the result of which will be the creation of the leading gold producer in the CIS, with assets in Kazakhstan and Russia - will be completed within the time period previously announced. We are also confident that this transaction is in the best interests of all company shareholders and is in line with the vision of Kazakhstan President Nursultan Nazarbaev to attract additional investment into the country's economy, create new jobs, and increase gold production volumes. \n \nThe 36% rise in gold production by KazakhGold under Polyus Gold management in the first half of 2010 compared to the same period last year and the estimated 50% increase in total KazakhGold gold production for 2010 underlines our firm intention to continue to invest in developing the company's assets in Kazakhst...