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Polymetal International plc: New exploration JV with a junior in Chukotka

28 May 2019 07:00

Polymetal International plc (POLY) Polymetal International plc: New exploration JV with a junior in Chukotka 28-May-2019 / 09:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


Release time

IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY

Date

28 May 2019

 

 

Polymetal International plc

New exploration JV with a junior in Chukotka

Polymetal formed a partnership with a company associated with Mineral Exploration Network (Finland) Ltd ("MEN") for early-stage exploration in the Chaunsk region of Chukotka, Russia.

"Our strategy of working with junior explorers is gaining momentum", said Vitaly Nesis, Group CEO of Polymetal. "MEN has extensive and varied experience in using advanced state-of-the-art methods of prospecting and grassroots exploration."

The objective of the JV is to discover high-grade near-surface gold mineralisation that can provide feed for the Mayskoye processing plant. The plant is capable for treating both sulphide ore through the flotation circuit and oxide ore through the CIL circuit.

Polymetal and MEN have entered into an agreement whereby:

Polymetal has agreed to fund a staged exploration campaign that will take place in 2020-2023 and is expected to result in an initial JORC-compliant Mineral Resource or Ore Reserve estimate. Polymetal will earn 25% in the JV by contributing RUB 20 million (approx. US$ 0.3 million) to the share capital with an option to increase its stake to 80% by contributing RUB 60 million (US$ 0.9 million) upon completion of the first-year field program in 2020. Polymetal will also retain a 5-year option to increase its interest to 100% subject to positive exploration results. Total investments by Polymetal are not expected to exceed US$ 10 million.

MEN - is an experienced UK-based junior explorer with a strong track record of prospecting in Finland and Spain. MEN will assume responsibility for prospecting an area, which covers approximately 83 km2 in the Chaunsk region of Chukotka.

About Polymetal  

Polymetal International plc (LSE, MOEX, AIX: POLY, ADR: AUCOY) (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield.

Enquiries

Media   Investor Relations

FTI Consulting

Leonid Fink

Viktor Pomichal

+44 20 3727 1000

Polymetal

Eugenia Onuschenko

Timofey Kulakov

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

Charles Lesser

James Stearns

+44 20 7425 8000

 

 

 

+44 20 7886 2500

RBC Europe Limited

Marcus Jackson

Jamil Miah

+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.

 

 

 


ISIN:JE00B6T5S470
Category Code:MSCM
TIDM:POLY
Sequence No.:8827
EQS News ID:816351
 
End of AnnouncementEQS News Service

UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

Date   Source Headline
10th Aug 20237:00 amEQSPolymetal: Resumption of trading on AIX
1st Aug 20236:00 pmEQSPolymetal: Suspension of Trading on the London Stock Exchange
28th Jul 20231:00 pmEQSPolymetal: Results of GM
25th Jul 20232:00 pmEQSPolymetal: Results of AGM
24th Jul 20233:00 pmEQSPolymetal: Q2 2023 production results webcast
21st Jul 20237:00 amEQSPolymetal: Update to the timetable of the Re-domiciliation
10th Jul 20234:55 pmEQSPolymetal: Proposed cancellation of listing on the Official List and from trading on the London Stock Exchange and notice of General Meeting
10th Jul 202311:30 amEQSPolymetal: Acquisition of the controlling stake in the Baksy property in Kazakhstan
10th Jul 20237:00 amEQSPolymetal: Clarification to the expected timetable of the Re-domiciliation
30th Jun 20233:00 pmEQSPolymetal: Report on payments to governments for the year 2022
29th Jun 20237:05 amEQSPolymetal: Update to the timetable of the Re-domiciliation
29th Jun 20237:00 amEQSPolymetal: Notice of 2023 AGM
19th Jun 20233:30 pmEQSPolymetal: Board changes
16th Jun 20237:01 amEQSPolymetal: Further Extension to Exchange Offer Timetable
5th Jun 20237:00 amEQSPolymetal: Update on the Company’s Russian-registered subsidiary, JSC Polymetal
30th May 20231:30 pmEQSPolymetal: Results of GM
26th May 20234:21 pmEQSPolymetal: Resignation of Bank of New York Mellon as depository bank for American Depositary Receipt programme
22nd May 20237:00 amEQSPolymetal: Update on the Russian-registered JSC Polymetal
18th May 20235:00 pmEQSPolymetal: General Meeting Voting Arrangements
16th May 20237:01 amEQSPolymetal: Circulation of General Meeting Materials
10th May 20237:01 amEQSPolymetal: Q1 2023 production results
10th May 20237:00 amEQSPolymetal: Proposed re-domiciliation to the AIFC (Кazakhstan) and notice of General Meeting
3rd May 20237:00 amEQSPolymetal: Analyst and Investor Briefing
23rd Mar 20237:00 amEQSPolymetal International plc: Integrated Annual Report 2022
16th Mar 20237:01 amEQSPolymetal: Preliminary results for the year ended 31 December 2022
16th Mar 20237:00 amEQSPolymetal: Board Committee Changes
1st Mar 20237:01 amEQSPolymetal: Ore Reserves, Mineral Resources and Exploration update as at 1 January 2023
10th Feb 20238:00 amEQSPolymetal: Statement in relation to trading of shares on the London Stock Exchange
10th Feb 20237:00 amEQSPolymetal: Statement in relation to trading of shares on the London Stock Exchange
27th Jan 20234:40 pmRNSSecond Price Monitoring Extn
27th Jan 20234:35 pmRNSPrice Monitoring Extension
25th Jan 20238:00 amEQSPolymetal: Q4 and FY 2022 production results
25th Jan 20237:00 amEQSPolymetal: Q4 and FY 2022 production results
17th Jan 20238:00 amEQSPolymetal: Analyst and Investor Day
17th Jan 20237:00 amEQSPolymetal: Analyst and Investor Day
11th Jan 20234:35 pmRNSPrice Monitoring Extension
30th Dec 20228:00 amEQSPolymetal: Total Voting Rights as at 30 December 2022
30th Dec 20227:00 amEQSPolymetal: Total Voting Rights as at 30 December 2022
12th Dec 20228:00 amEQSPolymetal: Results of the first tranche of the Exchange Offer
12th Dec 20227:00 amEQSPolymetal: Results of the first tranche of the Exchange Offer
8th Dec 20228:00 amEQSPolymetal: Extension to the settlement period in connection with the Exchange Offer
8th Dec 20227:00 amEQSPolymetal: Extension to the settlement period in connection with the Exchange Offer
1st Dec 20228:00 amEQSPolymetal: Board Changes
1st Dec 20227:00 amEQSPolymetal: Board Changes
10th Nov 20228:00 amEQSPolymetal: Board Committee Changes
10th Nov 20227:00 amEQSPolymetal: Board Committee Changes
2nd Nov 20228:00 amEQSPolymetal: Q3 2022 production results
2nd Nov 20227:00 amEQSPolymetal: Q3 2022 production results
12th Oct 20225:30 pmEQSPolymetal: Submission of resolutions to NSM
12th Oct 20225:30 pmEQSPolymetal: Submission of resolutions to NSM

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