20 Aug 2018 07:00
Release time | IMMEDIATE |
Date | 20 August 2018 |
Polymetal International plc
First concentrate shipment from Kyzyl
Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) ("Polymetal", the "Company") is pleased to announce that Kyzyl has shipped first concentrate to China.
On August 18th, approximately 2000 tonnes of gold concentrate has been shipped by rail to an off-taker in China. Concentrate shipments to the Amursk POX hub are expected to start next month.
In the meantime, the ramp up of Kyzyl is running according to plan. By October, the operation is projected to achieve its nameplate capacity of 150 Kt per month and recoveries of 86%. Polymetal plans to produce 80 Koz of payable gold at Kyzyl this year, ramping up production to 280 Koz in 2019 and 330 Koz thereafter at AISC of approximately US$ 500-550/oz.
"The first shipment of gold concentrate from Kyzyl is a major milestone bringing the company closer to first cash flow from the asset", said Vitaly Nesis, Group CEO of Polymetal."
Enquiries
| Media | Investor Relations | ||
FTI Consulting Leonid Fink Viktor Pomichal | +44 20 3727 1000 | Polymetal Eugenia Onuschenko Maryana Nesis Michael Vasiliev | ir@polymetalinternational.com +44 20 7016 9505 (UK)
+7 812 334 3666 (Russia) |
| Joint Corporate Brokers | |||
Morgan Stanley Andrew Foster Richard Brown Panmure Gordon Adam James James Stearns | +44 20 7425 8000
+44 20 7886 2500 | RBC Europe Limited Tristan Lovegrove Marcus Jackson | +44 20 7653 4000 |
FORWARD-LOOKING STATEMENTS
THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, "FORWARD-LOOKING STATEMENTS". THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS "TARGETS", "BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY", "ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS. BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED