The finance reports of Highland Gold was controlled by Ernst & Young, an independent auditor of the company.

The revenues of gold sales in 1H05 amounted to $28.3 mln, while the same period last year it was $38.2 mln. In 1H05 Highland Gold sold 63.333 oz of gold with the average price being $425 per ounce (last year – 94.055 oz for $395 per ounce).

The company expects that in 2H05 the gold mining at Mnogovershinnoe deposit will grow significantly that will influence the profit of the company. Experts predict that this year the production at the deposit will amount to 140-150 thou oz.