Polymetal International plc has concluded an agreement on increasing its share in the Prognoz silver deposits to 50% by acquiring 45% for $72 million to be paid in Polymetal shares.
Prognoz is the largest undeveloped deposit of primary silver in Eurasia. Its resources are estimated at 292 million ounces of silver with the content of 586 g per ton.
Another 50% in Prognoz belong to the Russian investment company Garden Ring Capital. (Ukrainian metal)