StockMarketWire.com - Highland Gold Mining posts a net loss of $10,019,000 for the year to the end of December - down from $24,843,000 in 2014.

Total production at Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora rose to 262,485 oz of gold and gold equivalents, an increase of 1.4% compared with 258,937 oz in 2014.

The average realised price for gold and gold equivalents in 2015 was US$1,062 per oz (2014: US$1,175 per oz).

Total cash costs fell by 25.6% to US$480 per oz and all-in sustaining cash costs were lowered by 20.9% to US$640 per oz.

EBITDA rose to $133.3 million (2014: US$123.6 million) despite lower prices with EBITDA margins increasing to 48.3% versus 40.6% in 2014.

Adjusted net profit, free of impairment and exchange rate fluctuations and with a normalised tax rate, amounted to US$49.6 million (2014: US$51.3 million).


At 9:32am: [LON:HGM] Highland Gold Mining Ltd share price was +5p at 90.5p



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