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Last kr0.68 SEK
Change Today +0.055 / 8.87%
Volume 797.2K
KOPY On Other Exchanges
As of 5:21 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

kopy goldfields ab (KOPY) Snapshot

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kopy goldfields ab (KOPY) Details

Kopy Goldfields AB (publ) engages in the exploration, development, and production of gold. As of May 6, 2015, the company held 11 bedrock exploration and production licenses on 1,963 square kilometers in Lena Goldfields, Bodaibo, the Russian Federation. It primarily focuses on Krasny project located in Irkutsk Region. The company was formerly known as Kopylovskoye AB and changed its name to Kopy Goldfields AB in June 2011. Kopy Goldfields AB (publ) was founded in 2007 and is headquartered in Stockholm, Sweden.

8 Employees
Last Reported Date: 05/23/15
Founded in 2007

kopy goldfields ab (KOPY) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: kr1.1M
Deputy Chief Executive Officer and Chief Fina...
Total Annual Compensation: kr1.0M
Compensation as of Fiscal Year 2014.

kopy goldfields ab (KOPY) Key Developments

Kopy Goldfields AB Reports Unaudited Consolidated and Parent Earnings Results for the Six Months Ended June 2015

Kopy Goldfields AB reported unaudited consolidated and parent earnings results for the six months ended June 2015. For the six months, on consolidated basis, the company reported total revenue of SEK 2.7 million compared to SEK 1.1 million, operating result of SEK 0.3 million compared to operating loss of SEK 4.2 million results after financial items of SEK 0.1 million compared to loss after financial items of SEK 5.3 million, net income of SEK 0.1 million or SEK 0.00 per basic and diluted share compared to net loss of SEK 13.1 million or SEK 0.41 per basic and diluted share for the last year. Cash out flow from operating activities was SEK 6.0 million compared to SEK 7.7 million for the last year. For the six months, the parent company reported revenue of SEK 1.8 million compared to SEK 1.7 million, operating loss of SEK 2.5 million compared to SEK 2.2 million loss after financial items of SEK 1.9 million compared to SEK 3.2 million and net loss of SEK 1.9 million compared to SEK 3.2 million for the last year.

Kopy Goldfields AB Provides an Operational Update of Krasny Project

Kopy Goldfields AB provided an operational update of the Krasny project. Drilling on Stage 2 of the current exploration program on the Krasny project was commenced on June 10, 2015. By July 26, 2015, 16 drill holes were completed, totaling 2,596 meters of core drilling. Currently two drill rigs are in operation and the Stage 2 exploration drilling is forecasted to be finalized by the end of September 2015. In addition to the drill holes mentioned above, the company proceed with core drilling for engineering and water flow testing. So far, 4 drill holes are completed and 1 more is under way, totaling 555 meters. In addition to hydraulic and rock characteristics testing, all holes will be assayed for gold. Following the completion of Stage 2, the Krasny project will move into feasibility studies (FS) and construction. The first production is preliminary estimated in early 2017. The projected production capacity of the mine and plant is currently estimated at 30 koz and will be further revised during feasibility studies. Based on the 1,838 assay tests received from the Stage 2 drilling, the company was that the new exploration results strongly confirm the existing geological model and new mineralized intervals discovered increase the upside potential. By July 26, 2015, drilling in profiles #39, #41 and #43 has been completed and drilling along profiles #38, #44 and #45 was in process. The most interesting mineralized intervals include 19.2 m with average gold grade of 1.775 g/t in hole #141592, 20.3 m @ 1.468 g/t (hole #141593), 28 m @ 1.539 g/t (hole #141596), 26.1 m @ 1.91 g/t (hole #141597), 15.4 m @ 2.191 g/t (hole #141598), 10 m @ 2.373 g/t (hole #141602), 22.7 m @ 2.499 g/t (hole #141620).

Kopy Goldfields AB (publ) Provides an Operational Update of the Krasny Project

Kopy Goldfields AB (publ) provided an operational update of the Krasny project. The Stage 2 Exploration program has been updated and adjusted to receive the data needed for production planning. Drilling of Stage 2 started on June 10, 2015. In March 2015, GV Gold contributed with USD 3 million to the Krasny joint venture to be used for Stage 2. Due to the Ruble deprecation, the forecasted cost for Stage 2 is USD 2 million compared to initially budgeted USD 3 million. The Exploration program is targeting to show a reserve report of not less than 300,000 oz of gold. Production is expected to start year 2017. Following the successful completion of Stage 1 of the current exploration program on the Krasny license, Kopy Goldfields' joint venture partner GV Gold contributed with USD 3 million for Stage 2 in March 2015. During the spring 2015, preliminary production modeling has been done based on the figures on hand in order to find the most optimal production scenario. Based on this, the Stage 2 exploration program has now been revised to fulfil this updated scenario. Stage 1 of the exploration program did primarily target to verify the previous resource estimation as well as the geological modelling, which was all fulfilled. Within Stage 2, the main objective is instead to collect information and plan for gold production on the Krasny license, which corresponds to Pre-Feasibility Studies (PFS). Exploration activities under Stage 2 will include: Filing reserve reports both under Russian GKZ rules and JORC. The target is to prove reserves under Russian GKZ of not less than 9 tons of gold (appr 300 koz); 6,841 meters of diamond drilling in 43 holes within the central part of the Krasny deposit to convert Indicated Resources into Measured and Inferred resources into Indicated (all holes are located within the limits of the optimized open pit); Finalize metallurgical bulk sample processing tests for gold recovery which are on-going since February 2015; 760 meters of diamond drilling of hydrology holes to explore natural water flows and mechanical characteristics of the rock to design open pit parameters; Topography survey of 1:2,000 scale and Ecology studies. All field operations will be finalized by October 2015 and the reserve reports are expected by the end of 2015. Due to the sharp Ruble depreciation during 2014-2015, the accumulated exploration costs for Krasny project are significantly lower than the initial budget. The preliminary cost forecast for Stage 2 is USD 2 million, compared to the initial budgeted USD 3 million. This means that there will be funds left in the Joint Venture after the finalization of Stage 2 to start the Feasibility Studies.


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