OJSC «Seligdar»

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/October 2009/

“Seligdar” OJSC
“Seligdar Gold” OJSC
“Ryabinovoye” LLC
“Lunnoye” CJSC
“Poisk placer miner guild” LLC
“Orenburg Mining Company” (OGK) LLC
“Euroart” LLC
“Sinida-1” Placer Miner Guild” LLC

“Ryabinovoye” LLC
/October 2009/

1. "RJC consulting" LLC continues development of the technical justification for the exploration standards for reassessment of the available resources at the site. Modular models of the deposit with different boundary values have been developed. Third stage of development of the exploratory standards feasibility study is in progress: calculations of the parameters of the opencasts for different boundary contents of gold. The boundary value of 0.8 g/ton has been selected in the exploration standards for calculation of the reserves. The documents are expected to be finalized and submitted to the RF State Reserves Committee in February 2010.

2. Construction of a 26 kilometers long 110 kV transmission line is continued. As of today, 17 kilometers of line clearance has been done, 16 kilometers of transmission line constructed. Construction of the pad for electrical substation is in progress, old roads are being cleared and new ones constructed.

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