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Avellana Gold met with the U.S. Embassy officials Avellana Gold met with the U.S. Embassy officials

On July 18,  Avellana Gold met with the U.S. Embassy officials to discuss the company’s investment projects in the Zakarpattia region.

On July 18,  Avellana Gold met with the U.S. Embassy officials to discuss the company’s investment projects in the Zakarpattia region.

Avellana Gold has shown a new factory on Muzhievo deposit of polymetals Avellana Gold has shown a new factory on Muzhievo deposit of polymetals

Company Avellana Gold, which invests in the development of the Muzhievo deposit of polymetals in Transcarpathia, has built a new factory and restores mines. Also, the investor is implementing a large-scale project to restore the ecological situation in the region.Last time Muzhievo deposit functioned more than 10 years ago. Avellana Gold, which began investing in the deposit in 2016, has built a m…

Company Avellana Gold, which invests in the development of the Muzhievo deposit of polymetals in Transcarpathia, has built a new factory and restores mines. Also, the investor is implementing a large-scale project to restore the ecological situation in the region.



Last time Muzhievo deposit functioned more than 10 years ago. Avellana Gold, which began investing in the deposit in 2016, has built a modern engineering facility for the safety and environmental friendliness of further mining operations. 

"The first part of our project implementation is a large-scale ecological project. Thanks to a special technological scheme, the dumps will be cleaned of heavy metals by 85-90%. And a closed cycle of production will allow us to reuse 85% of water from the required amount ", - said Andriy Smolin, head of the Ukrainian representative office of Avellana Gold. 

During the next stage of the investment project Avellana Gold will fully restore the work of Muzhievo deposit. The modern enrichment plant will reduce the country's demand for imports of zinc, lead and precious metals.

"With Avellana Gold production capacity of 500 thousand tons per year, lead and zinc sales volumes will completely cover imports of lead into Ukraine and more than 50% of imports of zinc. The efficiency of mining of precious metals will increase almost ten times in comparison with the previous development project of Muzhievo deposit ", - said Andriy Smolin. 

The launch of the enrichment plant will provide jobs to about five hundred people in the region. "One of the areas of Avellana Gold's work is the development of local communities, infrastructure improvements, as well as the payment of taxes to local and state budgets worth $3.5 million a year. In particular, it is a fee for the use of subsoil, from which almost $1 million will remain in the local budget, and up to 500 thousand will come from the income tax. In general, forecasted fiscal payments of the operating company will be about $10 million a year ", - notes Andriy Smolin.

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Official position of Avellana Gold Ltd. on information disseminated in the media Official position of Avellana Gold Ltd. on information disseminated in the media

Since 2016, Avellana Gold Ltd. holds special permits for the development of Muzhievo deposit in Transcarpathia and conducts the relevant activities. However, news from the media recently announced that the British company Gofer Mining PLC plans to invest in Muzhievo deposit of polymetallic ores. We would like to note that all the assets are owned by Avellana Gold Ltd. and no negotiations regarding…

Since 2016, Avellana Gold Ltd. holds special permits for the development of Muzhievo deposit in Transcarpathia and conducts the relevant activities. However, news from the media recently announced that the British company Gofer Mining PLC plans to invest in Muzhievo deposit of polymetallic ores. We would like to note that all the assets are owned by Avellana Gold Ltd. and no negotiations regarding new investors are being conducted or planned.

The American company Avellana Gold Ltd. has been working on the deposit for three years and never heard of a new investor before. We are the only company that owns special permits for the exploration of Muzhievo deposit of polymetallic ores in Transcarpathia and have not communicated with any investors. We have learned from the media about the Gofer Mining PLC, which seems to want to invest in the Muzhievo deposit. Their representatives have not contacted us, no negotiations have taken place.
Avellana Gold Ltd. presented a development project of Transcarpathian polymetallic deposits to Canada investors Avellana Gold Ltd. presented a development project of Transcarpathian polymetallic deposits to Canada investors

Avellana Gold Ltd. presented its own mineral exploration project in Transcarpathia at the Canadian-Ukrainian Investment Forum CUTIS. The total estimated value of the projects of Ukrainian companies amounted to about 1.5 billion dollars. USA. “Avellana Gold Company’s ambitious plan and our long-term strategy is a study of the untapped potential of the Ukrainian Carpathians for the extraction of…

Avellana Gold Ltd. presented its own mineral exploration project in Transcarpathia at the Canadian-Ukrainian Investment Forum CUTIS. The total estimated value of the projects of Ukrainian companies amounted to about 1.5 billion dollars. USA.

“Avellana Gold Company’s ambitious plan and our long-term strategy is a study of the untapped potential of the Ukrainian Carpathians for the extraction of gold and polymetallic ores. Our tactical goal is to prove polymetallic mineralization on deeper horizons, in particular, it concerns Beregovo deposit. The next task is to prove the economy of these deposits, - said the head of the Ukrainian representation of the company Avellana Gold, Andrii Smolin. - Solving these tasks requires the involvement of the best specialists and the study of international experience.”

The project of Avellana Gold also envisages the creation of a technologically advanced enterprise on the territory of Muzhievo deposit, with no analogues in Ukraine for the last two decades.

During the investment forum CUTIS, 20 leading Ukrainian companies presented their investment projects. To participate in the road show in Toronto, SP Advisors selected the most promising projects, where Avellana Gold introduced the Natural Resources sector.

CUTIS Investment Roadshow is a platform for cooperation between Canada and Ukraine in the field of investment attraction. More than 150 business and public sector representatives from Canada and Ukraine took part in the Forum.
Avellana Gold Ltd. announced contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project Avellana Gold Ltd. announced contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project

Avellana Gold Ltd. pleased to announce contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project. The Head of Avellana Gold Ltd representative office Andriy Smolin: “We are happy to sign the first agreement with respect to the provision of Mineral Resources Estimate (WRE) for Muzhievo deposit and preliminary analysis of Beregovo deposit. Wardell Armstr…

Avellana Gold Ltd. pleased to announce contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project.

The Head of Avellana Gold Ltd representative office Andriy Smolin: “We are happy to sign the first agreement with respect to the provision of Mineral Resources Estimate (WRE) for Muzhievo deposit and preliminary analysis of Beregovo deposit. Wardell Armstrong LLP (WAI), an independent consultancy that has provided the mineral industry with specialized geological, mining, and processing expertise since 1837. We believe that knowledge and experiences of such a world-recognized name would help to confirm our vision on resource base and strategy of development of our Ukrainian assets. We start from the basic MRE report but remained focused on a extended cooperation to update our Pre-Feasibility Study and get and Bankable Feasibility study in the shortest terms”

Brian Savage , CEO of Avellana Gold Ltd. “I was honored to cooperate with Wardell Armstrong and Mr. Phill Newall previously. That makes me confident that our ambitious project would get supported by one of the best industry expertise. Our first stage will be confirmation of economic resources that belong to our mining license. Nevertheless, our next focus is set to confirm the substantial increase of polymetallic mineralization, that goes much deeper and spreads towards Beregovo license area. All that goes in line with a long-term strategy to prove the overlooked potential of Ukrainian Carpathians and settle a cornerstone of a large mining and exploration company in Ukraine. Today we are finalizing our financial strategy, so WAI report would help us to provide unbiased valuation and validate received financial commitments”