Polymetal International has completed the acquisition of 100 per cent of Olymp, a Russian legal entity holding the mining and exploration licence for the Olcha gold-silver deposit.
Polymetal acquired the deposit together with all inter-company debt owed by Olymp in exchange for 775,000 ordinary shares in Polymetal.
The mining and exploration licence covers an area of 2.5 square kilometers in the Srednekansk district of the Magadan Region in Russia and is located approximately 215km from the Lunnoye processing plant and 230km from the Kubaka processing plant, which belong to Polymetal's Dukat and Omolon processing hubs, respectively.
The new shares are expected to be admitted to trading on the London Stock Exchange on January 25th 2013.
Polymetal's share price was up 3.87% to 1,100p at 13:28 on Thursday afternoon.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.