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of the projects under development are small scale and

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buy canada goose jacket Highland, part owned by billionaire Roman Abramovich, said in a statement its only operational Russian mine boosted output 18 percent in the first Canada Goose Outlet six months of 2008 and was on track to meet its target of canada goose clearance 155,000 165,000 ounces for the full year. The sharp decline in Highland canada goose stock, in contrast to canada goose store that of London listed Russian gold mining peers, surprised analysts. Canada Goose Jackets They said, however, canadian canada goose clearance goose jacket that Highland had yet to prove to uk canada goose the market that its new projects would come to fruition.of the projects under development are small scale and challenging, both financially and operationally, said canada goose uk shop Mikhail Stiskin, mining analyst at Troika Dialog in Moscow.Gold output in Russia, the world sixth largest uk canada goose outlet producer, is Canada Goose sale expected to reverse five straight years of decline Canada Goose Parka in 2008 Canada Goose Online as canada goose uk outlet new Canada Goose Coats On Sale mines come on stream and existing mines increase output. The country gold reserves canada goose coats are second only canada goose black friday sale to South cheap canada goose uk AfricaHighland, which produced 3 percent of Russia gold last buy canada goose jacket year, said its Mnogovershinnoye mine buy canada goose jacket cheap in the Russian Far East produced 68,813 ounces of gold in the first six months of 2008.The company said it expected cash flow to increase next year after launching its second mine, Novoshirokinskoye, at the end of 2008. The deposit, near Russia border with China, is a polymetallic field containing lead, zinc and precious metals.Highland 50 percent share in the project, a joint venture with Glencore owned Kazakh zinc producer Kazzinc, would add canada goose clearance sale 30,000 of gold equivalent ounces in 2009 and 50,000 ounces annually from 2010, the company said in the statement.Over 50,000 tonnes of ore has already been stockpiled there in preparation for the start up of the mill.commissioning of Novoshirokinskoye towards the end https://www.picframer.ca of this year is a significant milestone, making it our second producing mine and one that will make a contribution to revenues early next year, Chief Executive Henry Horne said.LICENCE EXTENSION Highland also said construction at its Mayskoye deposit canada goose uk black friday in the remote northeastern region of Chukotka would begin in September. The project is scheduled to produce between 250,000 and 270,000 ounces of gold annually after launching in 2011.A fourth project, Taseyevskoye, has received an extension to its mining licence. Production is now required to start by June 1, 2013. A Highland spokesman said the original licence deadline was 2010.Gold XAU= has traded canada goose factory sale at record highs above $1,000 an ounce this year, gaining momentum as a hedge against global financial and political Canada Goose online uncertainty. At today price of $820 per ounce, it is still over 20 percent more valuable than a year ago.Highland said it sold 81,036 ounces of gold in the first half of 2008, 29 percent more than in the year earlier period, and realised an average price of $909 per ounce, up 39 percent.It produced 156,490 ounces of gold in 2007, all of it from Mnogovershinnoye. The Russian Gold Industrialists Union forecasts Russian output will rise 8 canada goose coats on sale percent to 176 tonnes (5.66 million ounces) in 2008, from 162.8 tonnes last year.Highland London listed stock fell 7.5 percent to 132 pence by 1350 GMT, 48 percent below a Jan. 11 peak. It earlier traded as low as 130 pence, a cheap Canada Goose level hit on Aug. 7 but previously not seen since November 2007 buy canada goose jacket.

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