- Highland Gold Mining said an updated mineral resource estimate at the Mnogovershinnoye mine in Russia supported the extension of its live to 2029, from an original forecast of 2022.

Gold contained in ore reserves as of January 1 increased to 771,569 ounces, from an estimate of 452,866 ounces published last year.

The reserve grade was lowered from 5.5 g/t to 2.7 g/t, reflecting lower cut-off grades and an increase in ore volume from 2.7m tonnes to 9.1m tonnes.

The new reserve grade was in line with the average grade mined at the mine in recent years.

At 3:02pm: [LON:HGM] Highland Gold Mining Ltd share price was +4.7p at 155.9p

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