RE: Rule of Law19 Mar 2022 13:41
Polymetal still doing deals so forget the noise by the de-rampers and sit tight.
Polymetal bought a stake in the Novopetrovsk polymetallic project from Rosgeologia
Interfax
march 18, 2022
Moscow. March 18. INTERFAX.RU - Moscow. March 18. INTERFAX - Polymetal bought 25% from Rosgeologia in the Novopetrovskoye polymetallic deposit in Bashkiria and consolidated the project, follows from the data of the SPARK-Interfax analytical system.
Polymetal confirmed the deal. Its amount was not disclosed. Polymetal bought a 75% stake in 2020 for about $ 7 million, another $ 8 million was invested in geological exploration of the field.
Rosgeologia also confirmed the fact of withdrawal from the joint venture, noting "the successful operation of the enterprise, which has achieved positive results in geological exploration."
Polymetal had an option to buy out Rosgeologia's stake in Novopetrovskoye based on the reserves estimate, but the company decided to execute it earlier - at the beginning of the year, only the field's resources were announced, and the initial reserve estimate is expected in 2023.