Sale inbound.6 Sep 2024 21:02
The calendar year 2023 was a quiet one for the Company, in that all our efforts were focused on the possible sale of our Russian assets. To date there has been interest, but it is clear that the Ukraine crisis continues to hang over our businesses there. Nevertheless, we have ensured that the Group complies with all sanctions legislation and we continue to monitor the ever-changing situation.
The year of 2023 also saw the outlook for precious metals change due to higher interest rates, which typically affect their prices. At the time of writing in September 2024, with the easing of interest rates, we believe this can be a stepping stone towards the improvement of prices, with a rally already seen in some of the metals in our production suite and the retained stockpile.
In the meantime, work has continued through the year on optimising the asset base prior to a possible sale. In particular, work has focused on ensuring that the projects are kept in good standing and in an optimal state for a possible transaction.