RE: Halifax Share Dealing9 Feb 2023 13:07
Looking ahead, the company reiterated its current production guidance for 2023 of 1.7 million ounces of gold equivalent. Capital expenditures are expected to be between USD700 to USD750 million.
"2022 presented unprecedented challenges for our company. Nevertheless, Polymetal met original production guidance and maintained solid safety performance. In 2023, we are targeting stable production and return to free cash flow generation", said Chief Executive Officer Vitaly Nesis.
As previously announced, the company has continued to evaluate all available options to modify its asset holding structure in order to maximise shareholder value.
It has progressed the evaluation of a potential re-domiciliation of its parent company to a jurisdiction deemed to be "friendly" by the Russian Federation, which could unblock its ability to execute further corporate actions.
Polymetal said that re-domiciliation into the Astana International Financial Centre, a financial hub in Astana, Kazakhstan, would be its preferred jurisdiction.
Should the company proceed with a re-domiciliation to the AIFC, its primary listing may move to AIX, where its ordinary shares will be traded with the new ISIN.
Polymetal's evaluation of the re-domiciliation process is ongoing.
Polymetal shares were trading 2.5% lower at 337.40 pence each in London on Wednesday afternoon." Alliance NEWS