Sadovaya Group in partnership with BG Capital is pleased to invite you to participate in a conference call on May 19, 2011 at 17.00 Kyiv time (16.00 Warsaw, 15.00 London, 10.00 New York) to discuss the results of Sadovaya Group S.A. for the year ended 31 December 2010 and for the 3 months of 2011, ended 31 March 2011.
We are glad to present you Sadovaya Group March operational result:
- Production of coal at mines increased 170.7% year to year and 29.0% month to month
- Coal sales increased 103.9% year to year and 33.9% month to month
We continue to update you on Sadovaya Group operational results in 2011:
We are pleased to announce that the Group has acquired the license to develop “Roskoshniy” coal field, a natural extension of the Sadovaya field. Total resources of “A” grade coal (anthracite) at “Roskoshniy” field within the bounds of the coal seams l7в, l6н, l4в, k7н amounted to 17.6 million tons. Proven and probable reserves (2P), as confirmed by IMC under JORC code, are 9.1 million tons as of July 1, 2010. The license is issued for 20 years.
Mine Sadovaya, part of the Sadovaya Group was named the best tax payer in the coal industry in 2010 according to the criteria of net income, sales and wages at the mine, which is confirmed by the national certificate of the State Tax Service of Ukraine.
On February 22-26 RAG Mining Solutions delegation visited Sadovaya Group mines. During the negotiations, protocols of intent on cooperation and further action were signed. RAG Mining Solutions are expected to offer on two fronts in the first decade of March: the supply of equipment to Sadovaya Group mines and consulting services for engineering works on the k7нcoal-seam.
We are glad to introduce you Sadovaya Group January 2011 Production Update:
We are delighted to announce that our management team has expanded and strengthened with the following additions:
Mine locomotive is expected to be supplied to Rassvet-1 mine in mid-February 2011 after major overhaul, this locomotive will be used to enforce the preparation works on the 9th horizon. According to plans, the Rassvet-1 mine will purchase another locomotive in March 2011, which will be involved in works on the 7th horizon.
Restoration works were started at the vertical pit shaft of Rassvet-1 mine, commissioning of a vertical pit shaft is planned for October – November 2011. Vertical pit shaft will reduce the rock winding transport chain, reduce the staff needs and increase the rock winding capacity of the company. Restoration works were also started at the belt conveyor line for coal drawing from the 9th horizon of Rassvet-1 mine, commissioning of the conveyor is expected in August 2011.