The gold-extracting company Petropavlovsk has concluded an agreement with Gazprombank for the delivery of 96 thousand ounces of gold.
The deliveries will be prepaid.
“This forward contract with Gazprombank provides us with much flexibility in working capital management”, Petropavlovsk finances director Andrei Maruta noted.
As of late 2017 Petropavlovsk had forward contracts for the delivery of 400 thousand ounces of gold at $1.252 thousand per ounce. (Ukrainian metal)
