The company "GeoProMining Gold" commented on the disinformation in  the newspaper "Zhoghovurd"

ArmInfo.The company "GeoProMining Gold" considers it necessary to bring its comments on the publication "The Russian Company Dooms 70 Families to Famine" in  the newspaper "Zhokhovurd" from September 27, 2017. According to the  company's message, "GeoProMining Gold" really intends not to renew  the contract that loses its force from January 1, 2018, with a  subcontractor - the company Akhnadzor.

This step was motivated by the intention of GeoProMining Gold to improve the financial stability and productivity of the Sotq mine by incorporating the subcontractor's  obligations into its own production. To this end, the Company  purchased heavy quarry equipment, which will ensure the  implementation of the production program.

Reported in the publication of 70 drivers of heavy vehicles are  working in the company "Aknadzor", and "GeoProMining Gold" has no  obligations to them. However, proceeding from the social  responsibility policy, "GeoProMining Gold" is ready to recruit  drivers of the company "Aknadzor", currently working under the  contract with "GeoProMining Gold" for the transportation of ore.  Proceeding from this, as a result of the reorganization, the number  of workers for Vardenis dwellers and residents of local communities  will increase. To work on the acquired equipment of the company  "GeoProMining Gold" will need more than 70 drivers. I would like to  note that the work in GeoProMining Gold promises profitable and  stable conditions for its employees, both financially and socially.  All this is well known to the employees of the company "Aknadzor", in  this connection we consider the anonymous statements of the alleged  drivers, listed in the article, the order of the management of the  company "Aknadzor" or journalistic fiction.

To note, all the figures quoted by the author of the article are  untrue and are blatant lies. So, the amount of investment indicated  in the article is significantly understated, and the author needs to  understand the difference between revenue and profit. The company  "GeoProMining Gold", working in the Republic of Armenia since 2007  for 10 years invested in the technological and technical development  of production, and all this time, it incurred substantial financial  losses, and only in 2016 began to make a profit.

"GeoProMining Gold" once again recalls its policy of social  responsibility, in which the Company supports communities in the  regions of its presence, including the city of Vardenis, both in  terms of employment and various social projects aimed at supporting  local residents, as well as development and improvement of  communities. GeoProMining, founded in 2001, is an international  private company with a diversified resource base of gold and other  metals. GeoProMining enterprises are located in Russia and Armenia.  In Armenia, GeoProMining owns shares of the Agarak Copper and  Molybdenum Combine, the Sotk gold mine and the Ararat gold recovery  plant. The company produces gold in the form of alloy "Dore" and  copper, molybdenum and antimony concentrates.