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Development plan

Strategy

At the moment, most deposits require additional exploration and transfer of reserves in accordance with the international standards, therefore the Company is working with geological consulting firms such as Behe Dolbear (USA) and SRK Consulting (UK).

In case of timely attraction of necessary investment funds the Company plans to implement the following development strategy:

Stage 1 – In 2018, the Company plans to  construct and launch a gold extraction mill on the territory of the Kokpar gold deposit, which will allow to increase production and processing of gold up to 70 kg per month (20 kg from the Upper Andasai deposit, and 50 kg from the Kokpar deposit). Further increase in the processing capacity is planned for 2019, which  would allow the Company to produce and process up to 150 kg of gold per month.

Stage 2  – In 2019, the Company plans to build a full cycle gold extraction factory on the Mynaral ore field (the Aktobe deposit) with processing capacity of 1 million tons of ore per year and production up to 2 tons of gold per year. At the same time, geophysical, geological and drilling works will be continued on the Mynaral ore field and other fields operated by the Company in order to increase and confirm additional reserves according to JORC. In 2020, the Company plans to increase the extraction and production on the Mynaral ore field up to 4 tons of gold per year.

The strategy of the Company also implies further increase in prognostic reserves through mergers and acquisitions as well as acquirement of new deposits.