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22 Feb 2012 07:36
IRC releases 2011 Annual Results
22 February 2012
Petropavlovsk PLC ("Petropavlovsk" or the "Company") pleased to announce that the Group's 65.6% owned subsidiary, IRC, announced its 2011 Annual Results today.
For the full press release, please click on the link below:
http://www.ircgroup.com.hk/filemanager/pdf/annual_report_announcement_2011_eng.pdf
Peter Hambro, Chairman of Petropavlovsk, commented:
"I am delighted to be able to report IRC's maiden profit in this set of results. This is a great credit to the operational and management team. We have beaten our production targets for Kuranakh and construction at K&S is both fully funded and advancing well. This strong performance is further backed by an increase in Reserves and Resources, demonstrating the company's strong growth profile. IRC's position as a developer as well as producer in a unique geographical location makes us confident that the company will unlock value for our shareholders in the years to come."
Enquiries:
Petropavlovsk PLC Alya Samokhvalova Rachel Tuft
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+44 (0) 20 7201 8900
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Merlin David Simonson Ian Middleton
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+44 (0) 20 7726 8400 |
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