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Petropavlovsk PLC (POG.L)

POG.L on London Stock Exchange

7.72GBp
28 Apr 2017
Change (% chg)

-0.04 (-0.52%)
Prev Close
7.76
Open
7.84
Day's High
7.90
Day's Low
7.69
Volume
2,314,283
Avg. Vol
4,640,171
52-wk High
9.15
52-wk Low
5.74

Latest Key Developments (Source: Significant Developments)

Russia's Petropavlovsk Q1 gold production up 18% QoQ
Thursday, 27 Apr 2017 02:12am EDT 

April 27 (Reuters) - Petropavlovsk :Q1 total gold production was 118,046 ounces, an equivalent 18 percent increase QoQ (Q1 2016: 100,406 ounces).Total gold sold for the quarter was c.118,000 ounces, a 17% increase QoQ (Q1 2016: 101,000 ounces).Is on track to achieve full year 2017 production forecast of 420,000-460,000 ounces.  Full Article

(OFFICIAL)-BRIEF-Russia's Petropavlovsk Q1 gold production up 18 pct yr/yr
Thursday, 27 Apr 2017 02:00am EDT 

Company corrects comparison to year on year:Q1 total gold production was 118,046 ounces, an equivalent 18 percent increase yr/yr (Q1 2016: 100,406 ounces);.Total gold sold for the quarter was c.118,000 ounces, a 17% increase yr/yr (Q1 2016: 101,000 ounces);.Is on track to achieve full year 2017 production forecast of 420,000-460,000 ounces..  Full Article

Petropavlovsk posts 2016 net profit of $31.7 mln
Wednesday, 26 Apr 2017 02:14am EDT 

April 26 (Reuters) - Russia's Petropavlovsk says::Its 2016 net profit stood at $31.7 million, compared to a 2015 net loss of $297.5 million;.Underlying EBITDA fell by 16 percent to $200.1 million;.Revenue rose to $540.7 million from $599.9 million in 2015;.The group is confident to achieve 2017 production guidance of 460 koz;.Expects its total average cash costs of production in 2017 will be around $700/oz at current exchange rate;.Net debt is expected to decrease to around $550 million by the end of 2017, assuming an average gold price of $1,200/oz for the remainder of 2017..  Full Article

Petropavlovsk says ICBC waived obligation for unit
Tuesday, 21 Mar 2017 09:22am EDT 

Petropavlovsk Plc - : Industrial And Commercial Bank Of China Ltd waived obligation of IRC's unit, Kimkano- Sutarsky Mining and Beneficiation Plant Llc .ICBC waived obligation to repay all 2017 loan principal instalments of $42.5 million.  Full Article

Petropavlovsk says commissioning of POX hub scheduled to start in Q4 2018
Thursday, 16 Mar 2017 03:14am EDT 

Petropavlovsk : Says commissioning of POX hub is scheduled to start in Q4 2018 with production ramping up through 2019 Further company coverage: [POG.L] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Russia's Petropavlovsk says 2016 gold output at 416,000 oz
Thursday, 26 Jan 2017 02:17am EST 

Russia's Petropavlovsk Plc says: 2016 gold output at 416,000 troy ounce, in line with revised 2016 guidance but down from 504,100 ounces in 2015; . Full year gold sales of 400,000 oz at average price of $1,222 per oz; . Sees 2017 gold output at between 420,000-460,000 ounces; .Sees 2017 capex at $100-110 million..  Full Article

Petropavlovsk sees 2017 gold price at $1,150/oz in conservative f'cast
Tuesday, 6 Dec 2016 05:21am EST 

Russia's Petropavlovsk CEO Pavel Maslovskiy told Reuters: The company sees gold price at $1,150 per troy ounce in its conservative scenario in 2017; . The company's costs are seen flat in 2017; . The remaining $120-140 mln to be gradually invested in the company's pressure oxidation project (POX) in the coming years, 90 percent of equipment already bought; . Amur Zoloto's new proposal was caused by a debt restructuring deal between Petropavlovsk and its creditors; . The company's creditors support the possible deal with Amur Zoloto. He did not say when Petropavlovsk board of directors would consider the proposal; . Petropavlovsk said on Monday Amur Zoloto's shareholders offered to exchange their company for 20 pct in Petropavlovsk. (Reporting by Diana Asonova and Polina Devitt; editing by Katya Golubkova) ((ekaterina.golubkova@thomsonreuters.com; +7 495 775 1242)) Keywords: RUSSIA PETROPAVLOVSK/FORECAST.  Full Article

Petropavlovsk agrees debt refinancing with Sberbank, VTB
Wednesday, 30 Nov 2016 03:01am EST 

Russian miner Petropavlovsk Plc says: Has received approvals for the refinancing of its entire bank debt totalling $529.8 million with the lending banks, Sberbank (75 percent of total bank debt) and VTB (25 percent of total bank debt); . Terms are subject to final documentation and completion of conditions precedent; . The approved terms include a revised maturity profile from May 2018 to September 2022 (inclusive of option to extend the 2019 maturity payment to 2022 upon certain conditions being satisfied) and effective average interest rate of 8 percent; . The extended maturity profile of borrowings is now successfully aligned with Petropavlovsk's production profile, expected cash generation and growth capital expenditure plans; . The lenders have agreed the schedule supporting the company's development of the Pressure Oxidation Project (POX Hub); . The proposed refinancing allows Petropavlovsk to self-fund the POX Hub out of free cash flow; . Petropavlovsk is no longer pursuing the proposed joint-venture process with GMD Gold but remains in constructive discussions with it whether an alternative agreement can be reached;.  Full Article

Russia's Petropavlovsk H1 revenue down 15 pct
Wednesday, 28 Sep 2016 02:03am EDT 

Russia's Petropavlovsk Plc says: H1 group revenue was $254 million, 15 percent lower than in H1 2015; . H1 underlying EBITDA was down 2 percent y-on-y at $88 million; . H1 net profit attributable to equity shareholders $9.2 million compared with a loss of $52 million a year ago due to a decrease in cash costs, reversal of stockpile impairments and reduction in interest expense; . 2016 production is expected to be in line with the lower end of original guidance of 460,000-500,000 troy ounces; . Total average cash costs are expected at $700 per ounce in 2016; .Net Debt was at $598 million at the end of June..  Full Article

Russia's Petropavlovsk says H1 gold output down 22 pct y/y
Tuesday, 19 Jul 2016 02:21am EDT 

Russia's gold producer Petropavlovsk says: says H1 total gold production down 22 percent, year-on-year, to 187,400 troy ounces; . says the decrease was mainly caused by the scheduled processing of lower grade material and the impact of flooding; . says net debt is expected at $570 million at the end of 2016; .says 2016 production is now expected to be at lower end of the original guidance of 460,000-500,000 ounces..  Full Article

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