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15 SEPTEMBER 2003  

Highland Gold Mining Ltd. has bought Mayskoe Company

Profile Agency reports that Highland Gold Mining Ltd. (Great Britain) has bought 100% of OJSC Mayskoe shares from Deerfield Universal Ink. (affiliated with Millhouse Capital, controlled by Roman Abramovich, the governor of Chukotka). The cost of the shareholding is said to be $34,9 mln. OJSC MAyskoe owns the license for Mayskoe gold deposit exploitation, its resources being about 277 tons of gold. Highland Gold Mining Ltd informed that it was ready to invest $90 mln into the project. The deposit exploitation is intended to start at the end of 2006.



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