Polymetal International plc has confirmed the acquisition of a 50% stake in the silver deposits of Prognoz for $140 million, to be paid in Polymetal shares.
As the result of the deal Polymetal stake in Prognoz reached 100%.
The total cost of the purchase reached $215 million, including $3 million paid for the initial 5%, $72 million for 45% (bought from Polar Acquisition Limited in 2016) and $140 million for 50% from Garden Ring Capital.
JORC reserves of Prognoz are estimated at 292 million ounces of silver with the contents of 586 g per ton. (Ukrainian metal)