News

Avellana Gold Joined Canadian Investment Program CUTIS Avellana Gold Joined Canadian Investment Program CUTIS

The head of the Ukrainian representative office of Avellana Gold Andrii Smolin met with representatives of the investment company SP Advisors and Crossways MK Consulting. The meeting was held within the framework of the CUTIS - The Canada Ukraine Trade and Investment Support Project, implemented by the Government of Canada. "During the meeting with the director of the CUTIS project, Bogdan Les...

The head of the Ukrainian representative office of Avellana Gold Andrii Smolin met with representatives of the investment company SP Advisors and Crossways MK Consulting. The meeting was held within the framework of the CUTIS - The Canada Ukraine Trade and Investment Support Project, implemented by the Government of Canada.

"During the meeting with the director of the CUTIS project, Bogdan Leschyshyn, we discussed the problems and prospects of Ukrainian companies, the differences in the regulatory framework and the peculiarities of attracting investment into Ukrainian projects. We also discussed and identified the areas of Avellana Gold cooperation with Canadian comanies, - said Andriy Smolin. - Attraction of foreign investments is a priority direction of development of the Ukrainian economy today, which needs special attention.

SP Advisors is a company that provides investment banking services in Ukraine and other Eastern European countries. Within the Canadian-Ukrainian program CUTIS, SP Advisors is conducting a selection of long-term projects of Ukrainian companies that will be presented to Canadian investors this fall. About 20 projects will be selected to participate in roadshow in Toronto, where companies will be able to present them and communicate with investors in person. The remaining investment projects will be included in the presentation materials for participating in the road show.

Today, more than 300 investors from Canada expressed interest to participate in the event.

CUTIS is a 5-year (2016-2021) initiative of the Canadian government aimed at increasing exports from Ukraine to Canada and investments from Canada to Ukraine.
Crossways MK Consulting is a consulting company established in Canada to support and assist in solving problems encountered by investors operating in Ukraine.

The State Geology and Subsurface Survey of Ukraine Extended the Special Permits for Subsoil Use for Avellana Gold Ltd. The State Geology and Subsurface Survey of Ukraine Extended the Special Permits for Subsoil Use for Avellana Gold Ltd.

The State Geology and Subsurface Survey of Ukraine issued an order to extend the operation of special permits for subsoil use for the companies «KRK» and «ZGRK» owned by Avellana Gold Ltd. The special permits provide for geological exploration and experimental development of gold-polymetallic ores of the Kvasovo ore field and Beregovo deposit in Transcarpathia. The operation of the special permi...

The State Geology and Subsurface Survey of Ukraine issued an order to extend the operation of special permits for subsoil use for the companies «KRK» and «ZGRK» owned by Avellana Gold Ltd.
The special permits provide for geological exploration and experimental development of gold-polymetallic ores of the Kvasovo ore field and Beregovo deposit in Transcarpathia. The operation of the special permits, in accordance with the order of the State Geology and Subsurface Survey of Ukraine, has been extended for five years.

In addition, in the fall, Avellana Gold Ltd plans to start land reclamation and utilization of dumps remained as a result of the previous company operation on the territory of Muzhievo deposit in Transcarpathia.

Avellana Gold Congratulated the Geological Service of Ukraine with 100th Anniversary Avellana Gold Congratulated the Geological Service of Ukraine with 100th Anniversary

In early February, the State Service of Geology and Subsoil of Ukraine celebrated 100 years since the day the geological service was created. Representatives of Avellana Gold Ltd. visited the events dedicated to the anniversary. Veteran scientists, employees of state enterprises and institutions were honored at the celebration. The management of the State Service of Geology and Subsoil of Ukra...

In early February, the State Service of Geology and Subsoil of Ukraine celebrated 100 years since the day the geological service was created. Representatives of Avellana Gold Ltd. visited the events dedicated to the anniversary.

Veteran scientists, employees of state enterprises and institutions were honored at the celebration. The management of the State Service of Geology and Subsoil of Ukraine emphasized the need to attract investments and private capital to the development of the mining industry in Ukraine. On this occasion, the head of the Ukrainian representative office of Avellana Gold Ltd.., Andrii Smolin expressed hope that the State will be able to implement the announced strategy of attracting investment.

“Undoubtedly, geological science has a huge heritage and influence on the development and prospects of the mining industry, and the welfare of Ukraine depends, in particular, on it. Along with the successful work on attracting investment, Ukraine has the opportunity to secure a strong promotion as a country promising for business. Therefore, it would be good to see, that the state program on attraction of investors in the industry did not disagree with the tasks set by the government ", - Andrii Smolin said.

Also, on the occasion of the anniversary, Avellana Gold's management wished new achievements to the geological service.

It should be noted that the official history of the geological service of Ukraine began on February 1, 1918. Then the government approved the charter and the staff of the Ukrainian Geological Committee.

Investors Gained an Opportunity to Counteract the Bureaucracy Successfully Investors Gained an Opportunity to Counteract the Bureaucracy Successfully

Companies that open business in Ukraine gained an opportunity to counteract bureaucracy in State agencies thanks to investor protection organizations. Recently, the Business Ombudsman Council responded to violations of the terms for prolongation of special permits of Avellana Gold Ltd. for the exploration of the Transcarpathian polymetal deposit by the State Service of Geology and Subsoil of Ukrai...

Companies that open business in Ukraine gained an opportunity to counteract bureaucracy in State agencies thanks to investor protection organizations. Recently, the Business Ombudsman Council responded to violations of the terms for prolongation of special permits of Avellana Gold Ltd. for the exploration of the Transcarpathian polymetal deposit by the State Service of Geology and Subsoil of Ukraine.

As early as March 2017, the companies “KRK” and “ZGRK” owned by Avellana Gold Ltd. appealed to the State Service of Geology and Subsoil of Ukraine with applications for prolongation of the special permits, which the agency illegally detained, impeding the company's work.

The Business Ombudsman Council has not found any violations in applications and recommends the State Service of Geology and Subsoil of Ukraine to re-examine the applications and a package of documents for extending the validity period of the special permits owned by Avellana Gold Ltd.

"We are pleased that the levers of influence appeared in Ukraine - the Business Ombudsman Council, and together with UkraineInvest and the European Business Association, business has a chance to fight bureaucracy in the power structures," said Andrii Smolin, the Head of Ukrainian representative office of Avellana Gold Ltd.

Avellana Gold Ltd. also holds a dialogue with the US Embassy in Ukraine and enlists the support of Oksana Markarova, a Government commissioner for investments, in resolving bureaucratic problems faced by foreign investors.

Investor Company Avellana Gold Ltd. Enlisted the Support of the Ministry of Finance of Ukraine in Solving the Problem of Licenses Issuance Investor Company Avellana Gold Ltd. Enlisted the Support of the Ministry of Finance of Ukraine in Solving the Problem of Licenses Issuance

The State Geological and Subsurface Survey of Ukraine groundlessly refuses American investor Avellana Gold the extension of the licenses for geological exploration of the Transcarpathian deposit of polymetals. On this occasion, November 30, the head of Avellana Gold Brian C Savage met with the Head of investment protection company Ukrinvest Daniel Bilak and the government investment commissio...

The State Geological and Subsurface Survey of Ukraine groundlessly refuses American investor Avellana Gold the extension of the licenses for geological exploration of the Transcarpathian deposit of polymetals.

On this occasion, November 30, the head of Avellana Gold Brian C Savage met with the Head of investment protection company Ukrinvest Daniel Bilak and the government investment commissioner Oksana Markarova.

“ The State Geological and Subsurface Survey of Ukraine deliberately impedes the work of the company, putting forward requirements that are contrary to the legislation of Ukraine and are based on facts that do not correspond to reality” – Brian C Savage said.

Participants of the meeting, Oksana Markarova and Daniel Bilak, expressed their readiness to examine the situation in detail and make proposals to Prime Minister Volodymyr Groisman on solution of the difficulties that the bureaucratic system creates for foreign investors.

"This meeting is our hope for support in solving the problem. Now, we are preparing a legal summary of the violations of the State Geological and Subsurface Survey of Ukraine for non-issuance of licenses, "- added Brian C Savage.

Today, Avellana Gold is the only mining company in Ukraine, which, over the next five years, plans to invest $100 million in the extraction of polymetals in Transcarpathia. The project provides for the creation of 500 jobs with a perspective of 20-40 years. The company also has committed to carry out reclamation and landscaping on the territory of the deposit.