Results12 May 2022 13:52
Last years results see below. Personally this years will beat last years production and gold prices also higher than last year. DYOR.
Petropavlovsk PLC ("Petropavlovsk", or the "Company" and, together with its subsidiaries, the "Group") today issues its audited Annual Results for the year ended 31 December 2020.
Mr Denis Alexandrov, CEO said: "Petropavlovsk delivered a solid financial performance in 2020 despite numerous challenges, with revenue and EBITDA improving substantially year-on-year on the back of a 6% increase in production and higher gold prices.
Looking ahead, there is much to be addressed to drive improvement across the business in 2021 and beyond. From a cash flow perspective, one of our immediate opportunities is maximising utilisation of the POX Hub using our own refractory gold concentrates to reduce reliance on lower-margin third-party material via the successful on-schedule delivery of two major projects - the Pioneer flotation plant later this year and the Malomir flotation plant expansion next year. In addition, we continue to assess the development of our other assets, with the Albyn hub in particular having great potential that has not previously been fully considered.
The new management team continues to make progress enhancing operational governance and I am confident that the ongoing business review will present further opportunities to deliver greater transparency and efficiencies throughout the organisation."