Polymetal International plc has concluded an agreement on the increase of the share in the gold ore deposits of Veduga to 74.3% by acquiring a 31.7% share in Amikan LLC, which has the license to develop the deposits.
The price is $19.7 million to be paid in Polymetal shares.
The two sellers – Sibproekt LLC and a private investor Yuri Malakh – will receive 2,456,049 new ordinary shares, which equals to 0.54% of the Polymetal statutory capital.
The reserves of Veduga are estimated at 1.4 million ounces of gold with the high contents of 4.8 g per ton.
In 2014-2018 the quarry yielded 2882 thousand tons of ore with the average gold contents of 3.8 g per ton, or 356 thousand ounces. (Ukrainian metal)