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27 Aug 2021 08:30
27 August 2021
Petropavlovsk PLC
IRC Announcement: H1 2021 Interim Results
Petropavlovsk PLC (the "Company") notes that IRC Limited ("IRC"), a producer and developer of industrial commodities in which the Company is a significant shareholder (31.1%), has today made an announcement regarding its interim results for the six months ended 30 June 2021.
Petropavlovsk acts as guarantor in relation to the obligations of K&S, a wholly owned IRC subsidiary, under two loan facility agreements with Gazprombank ("GPB"). During the period, IRC made principal repayments totalling US$10.3m to GPB in accordance with the loan repayment schedule and, in addition, settled guarantee fees of US$13.8m to Petropavlovsk PLC. Additionally, K&S made repayments totalling US$50m to GBP in July and August. Therefore, the outstanding loan principal amount as of the date of this announcement amounted to c.US$143.5m.
The full text of the announcement may be found on the website of IRC at http://www.ircgroup.com.hk
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 19.50Moz Au which include Reserves of 7.16Moz Au. Following its IPO on the Alternative Investment Market (AIM) in 2002, Petropavlovsk was promoted to the London Stock Exchange in 2009, where today it is a Premium Listed company and a constituent of the FTSE 250, FTSE 350 and FTSE All Share indices. The Company's shares also trade on the Moscow Exchange and are a constituent of the RTS Index and MOEX Index.
The Company's key operating mines (Pioneer, Malomir and Albyn) and its Pokrovskiy Pressure Oxidation (POX) Hub are located in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.8.5Moz of gold since operations began in 1994 and has a strong track record of mine development, expansion, and asset optimisation.
Petropavlovsk is one of the region's largest employers and one of the largest contributors to the sustainable development of the local economy.
For more information
Please visit www.petropavlovskplc.com or contact:
Petropavlovsk PLC John Mann / Max Zaltsman | +44 (0) 20 7201 8900 TeamIR@petropavlovskplc.com |
Hudson Sandler Charlie Jack / Katerina Parker / Elfie Kent | +44 (0) 20 7796 4133 Petropavlovsk@hudsonsandler.com |
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