Edition:
United States

Petropavlovsk FY Net Profit Down At $25.9 Mln


Wednesday, 24 Apr 2019 02:14am EDT 

April 24 (Reuters) - Petropavlovsk PLC ::FY PRETAX PROFIT 82.4 MILLION USD VERSUS 48.9 MILLION USD YEAR AGO.FY REVENUE FELL 16 PERCENT TO 499.8 MILLION USD.2018 GROUP REVENUE OF $499.8M (2017: $587.4M).2018 NET DEBT OF $568M (2017: $585.1M).2018 ALL-IN SUSTAINING COSTS1 (AISC) WERE $1,117/OZ (2017: $963/OZ).RECOVERIES AT POX HUB WERE CONSISTENT AT 91% IN MARCH AND ON TRACK TO MEET 94% TARGET SET FOR JUNE 2019.GOLD SALES ARE ON TRACK TO MEET FULL YEAR TARGET OF 450 - 500KOZ.Q1 GOLD PRODUCTION AND SALES OF 107.7KOZ.IN 2019, PRODUCTION FROM MALOMIR FLOTATION PLANT IS EXPECTED TO RANGE BETWEEN 125KT - 145KT OF MATERIAL GRADING BETWEEN 29G/T - 32G/T.APPROXIMATELY 32KT OF HIGH-GRADE REFRACTORY CONCENTRATE WAS PROCESSED THROUGH POX HUB DURING Q1.CAPEX IN 2019 IS EXPECTED TO RANGE FROM $45M TO $55M.2018 UNDERLYING EBITDA 126.6 MILLION VERSUS $100.4 MILLION YEAR AGO.POX HUB IS EXPECTED TO TREAT 155KT TO 175KT OF REFRACTORY GOLD CONCENTRATES GRADING 30G/T - 31G/T IN 2019.2018 PROFIT FOR THE PERIOD $25.9 MILLION VERSUS $37.1 MILLION YEAR AGO.2019 TCC GUIDANCE OF $850 - $950/OZ. 

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