Polymetal International plc has concluded an agreement with Altynalmas on the sale of 50% in the Dolinnoye gold deposits.
At present Polymetal owns 50% in Dolinnoye, with the rest owned by Dolfinflip Co. Limited. Both companies agree to sell their 50% share in Aktogay Mys LLC (owner of the license for Dolinnoye) to Altynalmas. For that each will receive 50% of the total amount of $33.5 million.
The deal is expected to be struck in Q2.
Dolinnoye is situated in the Karaganda region. Its JORC ore reserves amount to 5.1 million tons with gold contents of 2.4 g per ton, containing 0.4 million ounces of gold. (Ukrainian metal)