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Polymetal International PLC (POLYP.L)

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Latest Key Developments (Source: Significant Developments)

Russia's Polymetal to hike dividend payout ratio to 50 pct
Wednesday, 15 Mar 2017 03:08am EDT 

Polymetal International Plc says: Its board of directors has approved a revised dividend policy . Regular dividends will be paid in amount of 50 percent of underlying net earnings for period (previously - 30 percent), on a semi-annual basis . The new policy will become effective from FY 2017 interim dividend . The regular dividend is subject to a hard ceiling of Net debt / Adjusted EBITDA ratio below 2.5x (previously 1.75x subject to the Board's discretion) .The board will continue to consider the potential for a special dividend on an annual basis.  Full Article

Russia's Polymetal raises stake in Tarutin copper deposit
Tuesday, 31 Jan 2017 02:00am EST 

Russian gold and silver producer Polymetal says: Has fully consolidated its interest in a licence holder for Tarutinskoye copper deposit (Tarutin) in the Chelyabinsk region, increasing the stake to 100 pct from 75 pct; . Purchased additional 25 percent from Gerosena Trading Ltd; . The consideration comprises $10 million payable by 893,575 newly issued shares, or 0.2 pct of Polymetal's issued ordinary share capital post the transaction; .Tarutin is a copper-gold deposit, which is expected to provide an open-pittable ore feed for Polymetal's Varvara flotation plant located in Kazakhstan, 150 km (93 miles) by road from the mine site..  Full Article

Polymetal CEO sees Russia's 2017 mined gold output down 5 pct
Thursday, 26 Jan 2017 06:30am EST 

Polymetal Chief Executive Vitaly Nesis told Reuters on Thursday: Polymetal sees 2017 mined gold output falling 2-3 percent globally and 5 percent in Russia; . Polymetal needs to repay about $300 million of its debt in 2017, will refinance this amount; . Polymetal is unlikely to be invited to take part in development of Sukhoi Log gold deposit; . Believes bank financing is more attractive now than Eurobond issues. Further company coverage: [POLYP.L] (Reporting by Moscow Newsroom) ((Polina.Devitt@thomsonreuters.com;)).  Full Article

Russia's Polymetal Q4 gold production up 30 pct y/y
Thursday, 26 Jan 2017 02:17am EST 

Russia's Polymetal says: Q4 gold production 285,000 of troy ounce, up 30 percent y/y, while silver output down 3 percent to 7.0 million oz; . Q4 revenue rose 34 percent y/y to $524 million; . Sees production at 1.40 million ounces and 1.55 million ounces of gold equivalent in 2017 and 2018, respectively; .Sees 2017 cash costs at $600-650 per oz, capital expenditures at $370 million..  Full Article

Russia's Polymetal to take part in silver deposit development in Russia
Thursday, 19 Jan 2017 03:15am EST 

Russian silver and gold producer Polymetal says: Polymetal will participate in the development of Prognoz silver deposit in Russia's Far East which is the largest undeveloped primary silver deposit in Russia; . Prognoz has JORC-compliant indicated and inferred resources (estimated by Micon in 2009) of 292 million troy ounces; . Under the agreement, Polymetal will acquire a 5 percent indirect interest in Prognoz for $3 million in cash through the purchase of 10 percent in Polar Silver Resources Ltd which indirectly holds a 50 percent interest in Prognoz. The remaining 50 percent is owned by a group of private investors; . Polymetal will undertake diamond drilling and complete a technical study for the property before March 31, 2019, with 2017-2019 capital expenditures estimated at $10 million per year; . Upon completion of the technical study and the reserve estimate, but no later than on March 31, 2020, Polymetal will have an option to increase its effective share in Prognoz to 50 percent;.  Full Article

Russia's Polymetal recommends special dividend of $0.15/share
Thursday, 8 Dec 2016 02:00am EST 

Polymetal : Says its board of directors has approved a special dividend of $0.15 per share for the year ending Dec. 31, representing approximately $64 million in aggregate; . Says this brings total dividends declared for this financial year to $0.24 per share (2015: $0.51), or $103 million; . Says the special dividend will be paid on Dec. 29; . Says the amount of the final dividend for the year will be reviewed by the board in accordance with the dividend policy and then recommended to shareholders for their approval in 2017; .says the board has reviewed Polymetal's hedging policy and approved the continued application of the existing no-hedge approach going forward..  Full Article

Russia's Polymetal says H1 net earnings up to $164 mln
Wednesday, 24 Aug 2016 02:00am EDT 

Russia's Polymetal International Plc says: H1 adjusted EBITDA down 1 percent y/y; . Remains on track to meet its 2016 production guidance Of 1.26 million ounces of gold equivalent; . Reduces its year capital expenditure guidance to $310 million from $350 million; . H1 revenue down by 8 percent to $593 million; . 2016 H1 net earnings up to $164 million from $98 million in H1 2015; .Interim dividend of $0.09 per share representing 30 percent of the Group's underlying net earnings for 1H 2016 is proposed by the Board..  Full Article

Russia's Polymetal ups stake in Tarutin copper deposit
Thursday, 18 Aug 2016 02:26am EDT 

Russia's Polymetal International Plc says: Has increased its interest in LLC "Vostochny Basis", the license holder for the Tarutinskoye copper deposit (Tarutin) in the Chelyabinsk region, to 75 percent from 50 percent; . Has purchased the additional 25 percent from Gerosena Trading Ltd, the owner of the remaining stake in LLC "Vostochny Basis"; . The consideration comprises $13.5 million payable by 898,875 newly issued Polymetal shares (0.21 percent of Polymetal's increased ordinary share capital); .Following the deal, the total issued share capital of Polymetal will comprise 427,132,335 of shares..  Full Article

Russia's Polymetal completes acquisition of Komarovskoye deposit in Kazakhstan
Tuesday, 2 Aug 2016 02:00am EDT 

Polymetal International Plc : Announces the completion of the acquisition of Orion Minerals LLP, the holding company for the Komarovskoye Gold Deposit in Kazakhstan, from Kazzinc LTD, a subsidiary of Glencore Plc. . Says the acquisition was completed on Aug. 1, 2016, following receipt of all required regulatory approvals. .Incremental production is planned to start in Q4 2016..  Full Article

Russia's Polymetal Q2 gold production down 12 pct y/y
Tuesday, 19 Jul 2016 02:20am EDT 

Russia's gold producer Polymetal says: Q2 gold equivalent production down 12 percent year-on-year . to 262,000 troy ounces mainly due to the planned grade declines at Okhotsk and Omolon as well as traditionally volatile quarterly grade performance at Dukat; . Says Q2 revenue down 12 percent y/y to $307 million; .Says on track to produce 1.26 million ounces of gold equivalent in 2016..  Full Article

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