Gold output of precious metals producer Polymetal International increased by 8% YoY, to 214,000 ounces, while silver production decreased by 3%, to 6 million ounces in January-March, the company said in a statement on April 18.
Total output in gold equivalent grew by 5%, to 295,000 ounces in the period.
Revenue went up by 19%, to $354 million. The company attributed the increase to a growth in sales and in prices for precious metals, and to a lesser impact of seasonal closings of gold refineries as compared with the same period of 2017.
Polymetal plans its 2018 production to reach 1.55 million ounces in gold equivalent, and total cash costs to amount to $650-675 per ounce in gold equivalent with all-in sustaining costs of $875-925 per ounce. (Prime/Ukrainian metal)