Highland Gold shines as rouble falls, but grades are mixed

Several of the operational and financial levers that led Highland Gold (HGM) to a strong performance in 2015 were again evident in the six months to June. All-in sustaining costs - the most comprehensive measure for miners' outgoings - dropped from $640 (£494) an ounce (oz) in 2015 to $609 at the half-year, as the weak rouble offset the negative impact of inflation and energy price increases.

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