Pavlik, Gold Ore Company

JSC "Gold Ore Company PAVLIK" in 2007 began the development of the gold ore deposit of the same name in the Tenkinsky district of the Magadan region.

Performance indicators

2023: Halving losses to RUB 1.69 billion

Net losses of the Pavlik gold mining company in 2023 reached 1.69 billion rubles, which is half the losses a year ago (3.64 billion rubles). Revenue during this time rose almost 2 times and amounted to 48.97 billion rubles (in 2022 - 27.59 billion rubles). Such data in accordance with Russian accounting standards (RAS) were released in early April 2024.

According to the Interfax news agency, citing Pavlik's materials, in 2023, an almost threefold increase in sales profit was recorded, to 21.68 billion rubles. At the same time, the cost of sales increased by 43%, to 24.69 billion rubles. Gross profit increased 2.63 times and amounted to 24.28 billion rubles.

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It is also noted that the amount of interest payable increased by about 3 times in 2023 - to 12.43 billion rubles, which was offset by a decrease in other income, to 11.89 billion rubles.

By the end of 2023, Pavlik's total debt grew by 14% and reached 116.8 billion rubles, and net debt increased by 11% to 113.4 billion rubles. The agency draws attention to the fact that the growth in revenues from sales of products helped the company return to a positive operating cash flow, at the end of 2023 it amounted to 6.6 billion rubles against a negative 24.9 billion rubles a year earlier.

In 2023, the Pavlik gold mining company increased gold production to 9.3 tons, which is 29% more than a year earlier. The growth is due to the commissioning of the second stage of the Pavlik gold recovery plant.

As of the end of 2023, the mining and processing plant at the Pavlik field in the Magadan Region is one of the ten largest gold miners. The field is managed by Arlan Investment Company^[1]

History

2024: Appointment of Rustem Utyashev as CEO

In early March 2024, the Pavlik gold mining company, one of the largest gold mining enterprises in the Far East, announced the appointment of a new general director. It was Rustem Utyashev, who replaced Igor Nikolishin in this post, who headed the enterprise since January 2023. Read more here.

2023: Igor Nikolishin - the new general director of Pavlik

In January 2023, Igor Nikolishin became the new general director of the Pavlik gold mining company, who replaced Anton Kim in this post. Interfax drew attention to the appointment of a new head, referring to the data of the Unified State Register of Legal Entities (USRUL). Read more here.