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20 Jan 2021 07:00
20 January 2021
Petropavlovsk PLC
Results dates and corporate update
Petropavlovsk PLC ("Petropavlovsk", or the "Company" and, together with its subsidiaries, the "Group") provides the following corporate update.
The Group's mines continue to operate as normal, despite the significant ongoing challenges presented by the COVID 19 pandemic.
The Company will announce its Q4 and FY 2020 Sales & Production Report on 26 January 2021. The production and capex outlook for 2021 and the release date for 2020 Annual Results will be announced separately.
The Group reported, in its Interim Results of 30 October 2020, a lack of co-operation from a small group of senior employees and ongoing related legal hearings in Russia. These matters have improved markedly in recent weeks, with co-operation restored and a further update will be provided at the Group's Annual Results.
The Company notes that on 24 December 2020 the former Chief Executive, Pavel Maslovskiy, was reported to have been arrested in Russia on a charge of embezzlement related to a real estate transaction in 2018. The proceedings will be monitored and, to the extent that they impact on or involve the Group, we will update the market accordingly.
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated Russian gold producer with JORC Resources of 21.03Moz Au which include Reserves of 8.46Moz 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 key operating mines (Pioneer, Malomir and Albyn) are in the Amur Region in the Russian Far East. Petropavlovsk has produced a total of c.8.1Moz of gold since operations began in 1994 and has a strong track record of mine development, expansion and asset optimisation.
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.
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 Patrick Pittaway / Max Zaltsman / Viktoriya Kim
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+44 (0) 20 7201 8900 TeamIR@petropavlovskplc.com |
Hudson Sandler Charlie Jack / Katerina Parker / Elfie Kent
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+44 (0) 20 7796 4133 Petropavlovsk@hudsonsandler.com |
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