Petropavlovsk Plc, extracting gold in Amur region, has published its financial results for January-June.
According to the company report, in H1 it received $24.8 million of net losses against $24.5 million of net profit last year.
Revenue dropped by 11.2%, to $270 million because of the decrease in gold sales – 201.4 thousand ounces against 231.8 thousand ounces.
EBITDA fell 2-fold, from $114 million to $60.7 million.
As of September 26 the company had contracts to sells 250 thousand ounces of gold.
As of June 30 the company net debt reached $566 million ($585.1 million as of December 31, 2017). (Ukrainian metal)