1 Jun 2020 08:03
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1 June 2020
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Petropavlovsk PLC
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Response to Press Speculation
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Petropavlovsk PLC ("Petropavlovsk" or the "Company") notes the recent press speculation regarding a possible corporate transaction with its major shareholder, Uzhuralzoloto Group of Companies ("UGC"), a privately-owned Russian gold miner.
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Whilst the the Company maintains an active dialogue with all its shareholders, it is not currently engaged in any transaction discussions with UGC.
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About Petropavlovsk
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With a Premium Listing on the London Stock Exchange, Petropavlovsk (LSE: POG) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz Au.
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The Company's key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East and the Company has produced a total of c.7.8Moz of gold since operations began in 1994. Petropavlovsk has a strong track record of mine development, expansion and asset optimisation.
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The Group recently entered a new era of growth following the successful commissioning and start-up of its flagship asset, the Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the processing of the Company's abundant refractory reserves and resources.
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Petropavlovsk is committed to implementing international best practices across all areas of sustainable development and is one of the region's largest employers and contributors to the local economy.
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For more information
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Please visit www.petropavlovsk.net or contact:
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Petropavlovsk PLC Patrick Pittaway / Max Zaltsman / Viktoriya Kim  | +44 (0) 20 7201 8900 TeamIR@petropavlovsk.net |
Peel Hunt LLP Ross Allister / David McKeown / Alexander Allen | +44 (0) 20 7418 8900 |
Canaccord Genuity Limited Henry Fitzgerald-O'Connor / James Asensio | +44 (0) 20 7523 8000 |
Buchanan Bobby Morse / Kelsey Traynor / Ariadna Peretz  | +44 (0) 20 7466 5000 POG@buchanan.uk.com |
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