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Avellana Gold Took Part in the Annual General Membership Meeting of European Business Association Avellana Gold Took Part in the Annual General Membership Meeting of European Business Association

Avellana Gold joined the EBA Annual General Membership Meeting on November 16. This is the largest and most exquisite gathering of business community in Ukraine, which has united more than 700 companies, as well as representatives of the authorities and partners of the Association. Participants of the Meeting took part in the panel discussion on the development of Ukraine and its position on t...

Avellana Gold joined the EBA Annual General Membership Meeting on November 16. This is the largest and most exquisite gathering of business community in Ukraine, which has united more than 700 companies, as well as representatives of the authorities and partners of the Association.

Participants of the Meeting took part in the panel discussion on the development of Ukraine and its position on the world market with representatives of the Ukrainian government.

Also at the meeting it was announced the results of the EBA Board elections.

"On this occasion, we congratulate the European Business Association on the new leaders, and we would like to express our gratitude for the professional consultations and support of our company by the Association, as it is important not only for us, but for the country, in the development of which we are ready to invest." Andrii Smolin, Head of the Ukrainian representative office of Avellana Gold Ltd.

Avellana Gold has joined the European Business Association this summer. The Association represents the interests of investors and is interested in improving the investment climate in Ukraine. The Association incorporates over 900 leading companies.

Avellana Gold Got a Withdrawn License for Polymetal Mining Back Avellana Gold Got a Withdrawn License for Polymetal Mining Back

The General Prosecutor Office has returned to Avellana Gold a special permit for polymetal mining at Muzhievo deposit owned by an American investor, as well as confidential geological information about the deposit. "The General Prosecutor Office reacted very quickly to our appeal to intervene in the problem. October 20, we have faced an incomprehensible situation, when for some unknown reason m...

The General Prosecutor Office has returned to Avellana Gold a special permit for polymetal mining at Muzhievo deposit owned by an American investor, as well as confidential geological information about the deposit.

"The General Prosecutor Office reacted very quickly to our appeal to intervene in the problem. October 20, we have faced an incomprehensible situation, when for some unknown reason masked people seized the special permit for the exploration of Muzhievo polymetal deposit. Thanks to the operational intervention of the Prosecutor General Yuriy Lutsenko and his first Deputy Dmytro Storozhuk, the withdrawn license was returned to us in a few days. We are convinced that Ukraine adheres to the rule of law,” Andrii Smolin, Head of Ukrainian Representative Office of Avellana Gold, said.

It should be reminded that recently the masked law enforcement people conducted a search at the office of Carpathian Mining Company, which was previously bought out by the American company Avellana Gold Ltd.

On site, the Company employees were told that it was a search conducted by the Prosecutor General's Office as part of criminal proceedings against the previous owners of Carpathian Mining Company. The masked law enforcement people seized a notebook with unique confidential information on the deposit and a special permit for the exploration of Muzhievo polymetal deposit, which belong to American investor Avellana Gold.

As of today the Company has designed a polymetal mining project for the region in which it plans to invest 100$ mln. It has obtained all approvals for running the business.

American Company Avellana Gold Asks the General Prosecutor Office for Protection against Raiders American Company Avellana Gold Asks the General Prosecutor Office for Protection against Raiders

Investor company Avellana Gold addressed the Prosecutor General Yuriy Lutsenko and asked to investigate the confiscation of license for polymetal mining at Muzhievo deposit. Some days ago, law enforcement people conducted a search at the office of Carpathian Mining Company, which was previously bought out by the American company Avellana Gold Ltd. On site, the Company employees were told that ...

Investor company Avellana Gold addressed the Prosecutor General Yuriy Lutsenko and asked to investigate the confiscation of license for polymetal mining at Muzhievo deposit. Some days ago, law enforcement people conducted a search at the office of Carpathian Mining Company, which was previously bought out by the American company Avellana Gold Ltd.

On site, the Company employees were told that it was a search conducted by the Prosecutor General's Office as part of criminal proceedings against the previous owners of Carpathian Mining Company. The masked law enforcement people seized a notebook with unique confidential information on the deposit and a special permit for the exploration of Muzhievo polymetal deposit, which belong to American investor Avellana Gold.

At the same time, it is known that the Prosecutor General has signed an order earlier that prohibits law enforcement people from conducting searches without priorly requesting necessary information and confiscate company servers if they do not contain factual information in criminal proceedings. The appeal also says that Mr. Lutsenko forbade the use of balaclavas

"We have grounds to believe that the confiscation of documents belonging to Avellana Gold is a raider block of Company activities by "interested parties". Attesting to the same is the systematic planted information campaign in media containing untruthful information about the Company that discredits it and which was launched right after Avellana Gold bought the stock in 2016. "Competitors are trying to link the Company to the scandalous minister Zakharchenko and the former circle of Mr. Yanukovych," the appeal of the American investor Avellana Gold to Yuriy Lutsenko says.

As of today the Company has designed a polymetal mining project for the region in which it plans to invest 100$ mln. It has obtained all approvals for running the business.

In the official appeal to Yuriy Lutsenko the investor company Avellana Gold is asking to take necessary measures and conduct quick investigation of the events of October 20 as well as help recover documents and property seized from the Company. The Company has addressed the European Business Association separately.

Let me remind you that in 2016 Avellana Gold bought Carpathian Mining Company, Private JSC and Western Exploration company, LLC, which hold special permits for mining at Muzhievo deposit and exploration of Beregovo and Kvasovo deposits. In addition, pursuant to the Decree of Pecherskyi District Court of the city of Kyiv (No. 757/55085/16-к) the Company has proven its status of bona fide acquirer of rights to special permit for Muzhievo deposit. The court has also not found any links between the Company and the previous owners of Carpathian Mining Company.

Masked Law Enforcement People Willfully Seize the License for Muzhievo Deposit from the American Gold Mining Company Masked Law Enforcement People Willfully Seize the License for Muzhievo Deposit from the American Gold Mining Company

October 20, masked men, who introduced themselves as people from the Security Service of Ukraine, have trashed the office of Carpathian Mining Company in the Zakarpattia village of Muzhievo as well as the apartment of the Company director in Kyiv and in Beregovo. A group of strangers have not provided any valid explanation for seizing mining information and the special permit for the exploration o...

October 20, masked men, who introduced themselves as people from the Security Service of Ukraine, have trashed the office of Carpathian Mining Company in the Zakarpattia village of Muzhievo as well as the apartment of the Company director in Kyiv and in Beregovo. A group of strangers have not provided any valid explanation for seizing mining information and the special permit for the exploration of Muzhievo polymetal deposit previously bought by the American investor Avellana Gold.

On site, the employees of Carpathian Mining Company were told that the search was conducted as part of criminal investigation against the previous owners of the company. Yet, for some unknown reason the people in masks took the documents belonging to the American company Avellana Gold.

“Some strangers broke into the company premises, pulled down the fence and destroyed the lock… Together with financial and business documents of the Carpathian Mining Company they took original permit for the exploration of Muzhievo deposit and a notebook with unique confidential information about the deposit. Employees add that without any explanations whatsoever the people said, “We were told to take everything.”

As of today American company Avellana Gold has designed a polymetal mining project unique for the region. They are planning to invest around 100 mln $ in the project and have already obtained all necessary approvals for running the business.

Without the permit that the unknown people took away, Avellana Gold cannot proceed with its work.

“We are preparing an urgent letter to the American embassy, the European Business Association and Ukraine Invest – a company supporting foreign investors. So far, we haven’t received any actual support but for some nice words,” Andrii Smolin, Head of the Ukrainian Representative Office of the American Company Avellana Gold, says.


For the record, in 2016 Avellana Gold bought Carpathian Mining Company and Western Exploration Company, which hold special permits for exploration and mining of polymetal ores in Western Ukraine (Muzhievo, Beregovo and Kvasovo deposits).

Head of Avellana Gold Ukrainian Representative Office Participates in International Economic Forum in Kyiv Head of Avellana Gold Ukrainian Representative Office Participates in International Economic Forum in Kyiv

Kyiv hosted a two-day Ukraine and the World in the New Economic Reality forum. World famous economists, leading Ukrainian and foreign specialists, businessmen and politicians participated in discussion panels as part of the international event. Prospects and investment attractiveness of Ukraine were among the key issues during panel and round-table discussions of the forum. “Ukraine is chang...

Kyiv hosted a two-day Ukraine and the World in the New Economic Reality forum. World famous economists, leading Ukrainian and foreign specialists, businessmen and politicians participated in discussion panels as part of the international event.

Prospects and investment attractiveness of Ukraine were among the key issues during panel and round-table discussions of the forum.

“Ukraine is changing from an investment-closed country to an attractive country for running a business. Top officials are coming to understand that investment is good for everyone and we need to fight for it by creating comfortable conditions for prospective investors. Improvement of business infrastructure and providing information on investment attractive spheres in Ukraine are those key areas that the government must still work on. Improvement of business infrastructure also entails change of government regulatory bodies’ philosophy. A civil servant is someone who works in service industry but has authority granted by the state to change the rules of the game. The rules are the same for everyone and any decision that is different from ten identical ones is a manifestation of corruption. Government bodies must be public and ready to hear what business has to say. No one is going to come crawling with their investments. Public nature of the decisions made is also something that needs to be revised,” Andrii Smolin, Head of Ukrainian Representative Office of Avellana Gold, said.

Every year the forum becomes a discussion arena for both Ukrainian problems and world issues with participation of various experts who form the new economy.

“Such large-scale events are a great opportunity to attract leading thinkers and world class professionals to successful economic development of Ukraine,” Andrii Smolin added. “