RE: Why are we not suspended too?…..10 Mar 2022 12:43
Why would it get suspended when most of the business is done outside Russia,this was from yesterdays rns
Sale of bullion/concentrate
Sales of bullion and concentrate from Kazakhstan continue as usual.
In Russia, Polymetal sells silver concentrate from Dukat (sold mainly to Kazakhstan as well as East Asia) and refractory gold concentrate from Mayskoye and Nezhda (sold to China and Kazakhstan). The Company received assurances from off-takers that all existing contracts continue in good standing.
Sales of bullion in Russia have been impacted by sanctions imposed by the US, EU and UK. The Company fully adjusted sales to comply with all relevant sanctions.
Domestic physical demand for gold in Russia has been supported by the decision of the Russian Central Bank to resume gold purchases in the domestic market. According to CBR statement, the purchases will be conducted at LBMA price of the day of the purchase. The Company is also working on expanding the number of counterparties for export bullion sales.