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Highland Output Rises

Highland Gold said Friday that it is on track to meet its full-year output target of 200,000 to 215,000 troy ounces of gold and gold equivalents.

In the first six months of 2012, gold equivalent production, a measure of gold and other metals expressed in units of gold, rose 9.5 percent year on year to 101,900 ounces, Highland said.

The company, which produces gold from Mnogovershinnoye, Novoshirokinskoye and Belaya Gora mines, added that its average gold sale price increased 13 percent year on year to $1,641 per ounce. Highland Gold said its total compliant resources reached 12.9 million ounces and were up 16 percent from the end of 2011, according to the Joint Ore Reserves Committee Code.

(Reuters)

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