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Polymetal International PLC (POLYP.L)

POLYP.L on London Stock Exchange

22 Jan 2018
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-3.80 (-0.43%)
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Latest Key Developments (Source: Significant Developments)

Russia's Polymetal Q3 sales up 17 percent y/y
Monday, 16 Oct 2017 02:00am EDT 

Oct 16 (Reuters) - Russia's Polymetal said on Monday::Its Q3 sales rose 17 percent y/y to $546 million as gold sales jumped 50 percent on the back of higher output and prices;.In Q3 2017, Polymetal achieved a record production of 470 Koz of gold equivalent (GE), which represents a 26 percent increase over the previous year;.The increase was driven by strong contributions from the fully ramped up Svetloye heap leach operation (Okhotsk hub) and Mayskoye oxide ore processing. Albazino and Varvara also achieved record quarterly production levels;.Q3 gold output increased 38 percent year-on-year to 370 Koz. Silver production declined 7 percent year-on-year to 7.4 Moz due to the planned grade decline at the Dukat underground mine;.Polymetal re-confirms its production guidance at 1.55 Moz of GE for 2018 and 1.7 Moz of GE for 2019..  Full Article

Russia's Polymetal says H1 net earnings down 27 pct y/y
Tuesday, 29 Aug 2017 02:05am EDT 

Aug 29 (Reuters) - Polymetal International Plc says::H1 net earnings at $120 million versus $165 million in H1 2016;.H1 adjusted EBITDA at $257 million, down 12 percent year-on-year;.An interim dividend of $0.14 per share (H1 2016: $0.09 per share), representing 50 percent of the group's underlying net earnings for H1 2017, is proposed by the board..Polymetal remains on track to meet its 2017 production guidance of 1.40 Moz of gold equivalent..  Full Article

Polymetal signs $140 mln loan agreement with EBRD
Thursday, 22 Jun 2017 02:00am EDT 

June 22 (Reuters) - Polymetal ::Signed $140 mln loan agreement with European Bank of Reconstruction and Development (EBRD).Says EBRD loan will finance remaining capital expenditures for Kyzyl project.  Full Article

Russia's Polymetal says extends Sberbank $400 mln loan until 2024
Monday, 5 Jun 2017 02:00am EDT 

June 5 (Reuters) - Russia's Polymetal says::Agreed with Sberbank to extend its existing $400 million credit facility with Sberbank for a period of 7 years;.The credit facility has been extended on the same key terms with an adjustment of the interest rate in line with the more competitive current market rates;."We are significantly extending the maturity profile of our debt portfolio while maintaining low interest costs. This is an important milestone in strengthening and developing our relationship with Sberbank," said Vitaly Nesis, Group CEO of Polymetal..  Full Article

Russia's Polymetal ups its share in gold property in Kazakhstan
Thursday, 1 Jun 2017 02:00am EDT 

June 1 (Reuters) - Russia's Polymetal says::Has acquired an additional 25 percent interest in the Dolinnoye gold property for a net consideration of $1.6 million, increasing its stake in the property to 50 percent;.Its initial 25 percent interest in the property was acquired in 2015;.The Dolinnoye deposit is located in Kazakhstan..  Full Article

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