IRC 2011 Annual Results

IRC releases 2011 Annual Results

22 February 2012

Petropavlovsk PLC ("Petropavlovsk" or the "Company") pleased to announce that the Group's 65.6% owned subsidiary, IRC, announced its 2011 Annual Results today.

For the full press release, please click on the link below:

http://www.ircgroup.com.hk/filemanager/pdf/annual_report_announcement_2011_eng.pdf

Peter Hambro, Chairman of Petropavlovsk, commented:

"I am delighted to be able to report IRC's maiden profit in this set of results. This is a great credit to the operational and management team. We have beaten our production targets for Kuranakh and construction at K&S is both fully funded and advancing well. This strong performance is further backed by an increase in Reserves and Resources, demonstrating the company's strong growth profile. IRC's position as a developer as well as producer in a unique geographical location makes us confident that the company will unlock value for our shareholders in the years to come."

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