Proactiveinvestors United Kingdom Polymetal International https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Polymetal International RSS feed en Mon, 17 Jun 2019 09:43:04 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Polymetal beats gold production estimates in the first quarter of 2019 ]]> https://www.proactiveinvestors.co.uk/companies/news/218852/polymetal-beats-gold-production-estimates-in-the-first-quarter-of-2019-218852.html Polymetal International PLC (LON:POLY) produced 369,000 ounces of gold during the first quarter of 2019, comfortably ahead of expectations, including those of analysts at RBC, and 37% ahead of the production rate for the corresponding period a year ago.

The company has said it is on track to meet guidance for all-in sustaining costs of between US$800 and US850 per ounce, and that overall production should hit 1.55mln ounces for the full year.

Investor Day next week

Debt did rise, but RBC notes that earnings are also set to rise this year, on its own estimate by 11%.

What’s more, free cash flow is always weighed heavily towards the second half of the year for Polymetal.

Operationally, the company’s new key new asset at Kyzyl in Kazakhstan, which will account for 36% of NAV by 2020, showed further improvements, with flotation recoveries reaching 89% in the quarter, above the 85% that was forecast by RBC.

Next week, Polymetal will host an investor day, and interest will focus on potential disposals or deals, debt, and also on the potential of new projects like Prognoz, recently acquired from a company controlled by Baker Steel Resources Investment Trust (LON:BSRT).

Just over 21% of the Baker Steel portfolio is accounted for by shares in Polymetal.

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Thu, 18 Apr 2019 12:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218852/polymetal-beats-gold-production-estimates-in-the-first-quarter-of-2019-218852.html
<![CDATA[RNS press release - Polymetal and RCC complete exchange of assets ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181219070003_13908833/ Wed, 19 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181219070003_13908833/ <![CDATA[RNS press release - Polymetal sells Khakanja operations ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181217070104_13905371/ Mon, 17 Dec 2018 07:01:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181217070104_13905371/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181217070006_13905343/ Mon, 17 Dec 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181217070006_13905343/ <![CDATA[RNS press release - Polymetal consolidates 100% interest in Nezhda ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181129070010_13884381/ Thu, 29 Nov 2018 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181129070010_13884381/ <![CDATA[Media files - Polymetal boasts being 'investor-oriented and always delivering on promises'. ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11199/polymetal-boasts-being-investor-oriented-and-always-delivering-on-promises--11199.html Wed, 14 Nov 2018 15:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11199/polymetal-boasts-being-investor-oriented-and-always-delivering-on-promises--11199.html <![CDATA[RNS press release - Polymetal joins MSCI Russia Index ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181114095352_13866546/ Wed, 14 Nov 2018 09:53:52 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181114095352_13866546/ <![CDATA[News - Polymetal ticks up as Nezhda gold project targeted for 2021 production following feasibility study ]]> https://www.proactiveinvestors.co.uk/companies/news/208996/polymetal-ticks-up-as-nezhda-gold-project-targeted-for-2021-production-following-feasibility-study-208996.html Shares in Polymetal International PLC (LON:POLY) ticked up in early trading Monday after it said it was targeting production in 2021 at its Nezhda gold project in Siberia following the completion of a feasibility study.

The FTSE 250 mining firm said the project had a mineral resource (including ore reserves) of 12.4mln ounces (Moz) of gold equivalent (GE) with an average GE grade of 4.5 grams per tonne (g/t), an increase of 1.6Moz compared to the previous estimate.

READ: Polymetal sells Svetlobor platinum exploration project

The estimate of proved and probable ore reserves also increased by 2.4Moz of GE to 38mln tonnes at an average grade of 3.5g/t GE for 4.4Moz of GE contained.

Open-pit reserves, which comprised 70% of total reserves, increased 55% to 3.1Moz.

Polymetal said the feasibility study had estimated 25 years of production from 2021 to 2045, with the life of mine plan including 19 years of conventional open-pit mining from 2019 to 2037, and 17 years of production from underground ore from 2029 to 2045. 

Total cash costs (TCC) for the open pit were estimated in the range of US$620-670 per oz of GE and all-in sustaining cash costs (AISC) in the range of US$700-750 per oz of GE.

Life of mine TCC was expected in the range of US$700-750 per oz of GE, with AISC in the range of US$800-850 per oz of GE.

The company said the first production at Nezhda was planned for the fourth quarter of 2021, with a full ramp-up by the second quarter of 2022. Approval by the Russian regulator was expected in December.

Vitaly Nesis, chief executive of Polymetal, said Nezhda was “a long-life, high-grade asset with robust economics", adding that the project was “capital light” and would contribute to dividends in 2022.

Shares were up 0.9% at 718.4p.

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Mon, 12 Nov 2018 08:32:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208996/polymetal-ticks-up-as-nezhda-gold-project-targeted-for-2021-production-following-feasibility-study-208996.html
<![CDATA[RNS press release - Nezhda Feasability Study Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181112070740_13862614/ Mon, 12 Nov 2018 07:07:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181112070740_13862614/ <![CDATA[News - Polymetal sells Svetlobor platinum exploration project ]]> https://www.proactiveinvestors.co.uk/companies/news/208851/polymetal-sells-svetlobor-platinum-exploration-project-208851.html Polymetal International PLC (LON:POLY)(MOEX:POLY)(OTC:AUCOY) has sold its 100% interest in the Svetlobor platinum exploration project to a group of unrelated private Russian buyers for US$5.5mln in cash.

"Svetlobor lacks scale and consequently does not fit our strategy," said Vitaly Nesis, Polymetal’s chief executive.

READ: Polymetal reports jump in half-year earnings as strong gold production offsets decline in silver output

"The company retains significant exposure to platinum group metals through the large open-pit Viksha project."

However, Polymetal’s primary focus remains on gold and silver. The company is one of the top 20 largest producers of gold in the world, and one of the top five largest silver producers.

Polymetal acquired Svetlobor in 2013 for US$9.7mln in shares and subsequently wrote its carrying value down to US$4mln on the back of modest exploration results.

The transaction is expected to result in a US$4.8mln accounting profit. The proceeds will be used to reduce debt.

The company recently sold the Kapan polymetallic mine in Armenia to Chaarat Gold Holdings (LON:CGH).

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Thu, 08 Nov 2018 13:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208851/polymetal-sells-svetlobor-platinum-exploration-project-208851.html
<![CDATA[RNS press release - Sale of Svetlobor platinum property ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181108070015_13859328/ Thu, 08 Nov 2018 07:00:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181108070015_13859328/ <![CDATA[RNS press release - Total Voting Rights as at 31 October 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181031070003_13848434/ Wed, 31 Oct 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181031070003_13848434/ <![CDATA[RNS press release - Polymetal agrees to sell the Kapan mine ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181030070420_13846838/ Tue, 30 Oct 2018 07:04:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181030070420_13846838/ <![CDATA[RNS press release - Press speculation ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181026151727_13844592/ Fri, 26 Oct 2018 15:17:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181026151727_13844592/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181018070009_13833136/ Thu, 18 Oct 2018 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181018070009_13833136/ <![CDATA[RNS press release - Board Committee Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181016070012_13829669/ Tue, 16 Oct 2018 07:00:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181016070012_13829669/ <![CDATA[RNS press release - Q3 2018 Production Results Timing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015120401_13828926/ Mon, 15 Oct 2018 12:04:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015120401_13828926/ <![CDATA[RNS press release - Q3 Production Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015120301_13828924/ Mon, 15 Oct 2018 12:03:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015120301_13828924/ <![CDATA[RNS press release - Polymetal increases stake in Veduga gold project ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015070005_13827902/ Mon, 15 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181015070005_13827902/ <![CDATA[RNS press release - Prognoz Mineral Resources Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181010070005_13822558/ Wed, 10 Oct 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181010070005_13822558/ <![CDATA[RNS press release - Analyst and ESG day 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181009070008_13820908/ Tue, 09 Oct 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181009070008_13820908/ <![CDATA[RNS press release - Total Voting Rights as at 30 September 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181001070006_13810121/ Mon, 01 Oct 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20181001070006_13810121/ <![CDATA[RNS press release - Polymetal consolidates 100% interest in Saum ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180928070301_13808095/ Fri, 28 Sep 2018 07:03:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180928070301_13808095/ <![CDATA[RNS press release - Sustainability peformance update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180925070023_13802900/ Tue, 25 Sep 2018 07:00:23 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180925070023_13802900/ <![CDATA[RNS press release - Board Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180921070004_13799287/ Fri, 21 Sep 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180921070004_13799287/ <![CDATA[RNS press release - Dow Jones Sustainability Index inclusion ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180917070006_13792262/ Mon, 17 Sep 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180917070006_13792262/ <![CDATA[RNS press release - Interim dividend exchange rate ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180913070002_13788852/ Thu, 13 Sep 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180913070002_13788852/ <![CDATA[RNS press release - Issuance of new shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180906070001_13780470/ Thu, 06 Sep 2018 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180906070001_13780470/ <![CDATA[RNS press release - Polymetal secures new US$ 250 million bank loan ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180828070006_13768692/ Tue, 28 Aug 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180828070006_13768692/ <![CDATA[News - Polymetal reports jump in half-year earnings as strong gold production offsets decline in silver output ]]> https://www.proactiveinvestors.co.uk/companies/news/203281/polymetal-reports-jump-in-half-year-earnings-as-strong-gold-production-offsets-decline-in-silver-output-203281.html Polymetal International PLC (LON:POLY) has reported a jump in its half-year earnings as strong gold production offset a small decline in its silver output.

The FTSE 250 metals miner reported adjusted underlying earnings (EBITDA) for the period of US$305mln, up 19% on the same period a year ago, while revenues climbed 16% to US$789mln.

READ: Polymetal sells 50% stake in Dolinnoye gold property to Altynalmas

The performance boost was mainly attributed to a 17% uptick in gold sales during the period to 445 thousand ounces (Koz), offsetting a 2% decline in sales of silver to 12.1 million ounces (Moz).

The group was also helped by a 6% year-on-year increase in the average realised gold price for the period to US$1,312 per ounce, while the average realised silver price declined 4% to US$15.6 per ounce.

Polymetal also declared an interim dividend of US$0.17 per share for the period, up from US$0.14 last year.

Looking ahead, the group said it remained on track to meet its production guidance for the full year of 1.55 Moz of gold equivalent, while total cash costs and all-sustaining cash costs were expected to be within guidance ranges of US$65-700/GE oz and US$875-925/GE oz respectively.

For the second half, the firm said it expected strong production driven by “traditional seasonal concentrate de-stockpiling” at the Mayskoye gold mine, as well as first contributions from its Kyzyl operation, which on Monday shipped its first 2000 tonnes of gold concentrate to China.

However, Polymetal added that the guidance remained contingent on the exchange rates between the US dollar and the Russian rouble, which has a “significant effect” on its rouble-denominated operating costs.

Over the six month period of the group’s results, the rouble has declined around 8% against the dollar, which the company said was “mainly on the back of new US government sanctions imposed against certain Russian individuals and companies”.

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Tue, 21 Aug 2018 08:14:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203281/polymetal-reports-jump-in-half-year-earnings-as-strong-gold-production-offsets-decline-in-silver-output-203281.html
<![CDATA[RNS press release - Interim dividend declaration of US$ 0.17 per share ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180821070201_13762181/ Tue, 21 Aug 2018 07:02:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180821070201_13762181/ <![CDATA[RNS press release - 1H 2018 financial results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180821070005_13762100/ Tue, 21 Aug 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180821070005_13762100/ <![CDATA[RNS press release - First gold concentrate shipment from Kyzyl ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180820070004_13760517/ Mon, 20 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180820070004_13760517/ <![CDATA[RNS press release - 1H 2018 Financial results conference call details ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180815070003_13755632/ Wed, 15 Aug 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180815070003_13755632/ <![CDATA[RNS press release - Q2 2018 production results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180726070014_13731756/ Thu, 26 Jul 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180726070014_13731756/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180718070003_13721588/ Wed, 18 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180718070003_13721588/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180706070004_13707901/ Fri, 06 Jul 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180706070004_13707901/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180704070003_13704503/ Wed, 04 Jul 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180704070003_13704503/ <![CDATA[RNS press release - Committee changes and Chair succession plan ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180627135019_13696076/ Wed, 27 Jun 2018 13:50:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180627135019_13696076/ <![CDATA[RNS press release - Start-up of Kyzyl and first concentrate ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180626070001_13692981/ Tue, 26 Jun 2018 07:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180626070001_13692981/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180622070003_13689544/ Fri, 22 Jun 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180622070003_13689544/ <![CDATA[RNS press release - Report on Payments to Governments 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180620070003_13686107/ Wed, 20 Jun 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180620070003_13686107/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180611070004_13673665/ Mon, 11 Jun 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180611070004_13673665/ <![CDATA[RNS press release - Total Voting Rights as at 31 May 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180531125744_13661967/ Thu, 31 May 2018 12:57:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180531125744_13661967/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180530070005_13658877/ Wed, 30 May 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180530070005_13658877/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180524101201_13653933/ Thu, 24 May 2018 10:12:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180524101201_13653933/ <![CDATA[RNS press release - Exchange rate for dividend payment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180516121336_13643727/ Wed, 16 May 2018 12:13:36 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180516121336_13643727/ <![CDATA[RNS press release - TR-1 Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180510070010_13635578/ Thu, 10 May 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180510070010_13635578/ <![CDATA[RNS press release - Termination of additional consideration at Kyzyl ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180504070006_13629785/ Fri, 04 May 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180504070006_13629785/ <![CDATA[RNS press release - Completion of Dolinnoye sale ]]> https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180504070004_13629788/ Fri, 04 May 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3872/LSE20180504070004_13629788/