Petropavlovsk Plc has corrected an option agreement with Agestina Ltd (Cyprus) to buy 25% in TEMI LLC, which owns a license to develop the Elginskoye ore field. The amendments presuppose a fixed cost of new shares in the volume of £0.179 per share, with the pound sterling rate of $1.3206. This will allow Petropavlovsk decreasing…
In 2020 Petropavlovsk Plc intends to increase gold-containing ore concentrates processing at Pokrovsky GOK to 350 thousand tons. Last year, 187.5 thousand tons were processed. The increase will be due to the growth of Malomyr and Pioneer deposits concentrate processing. By 2022, Petropavlovsk intends to start processing 400-450 thousand tons of concentrate per year at…
Petropavlovsk Plc, which operates gold deposits in Russia, has analyzed a potential secondary public offering (SPO) on the Moscow Exchange. “Petropavlovsk notes recent press speculation regarding a dual listing on the Moscow Stock Exchange and can confirm that it has undertaken analysis of potential for a secondary listing in Moscow. In this respect, the company…
Russian gold producer Uzhuralzoloto Group of Companies (UGC) has closed an acquisition of a 28.34% stake in Petropavlovsk Plc from a subsidiary of AEON Corporation of businessman Roman Trotsenko, UGC said in a statement. “The stake consists of shares that account for 22.37% of the shareholder equity and of convertible bonds that account for 5.97%…
In 2019 Petropavlovsk PLC produced 517.3 thousand ounces of gold, up by 42.2% YoY. The growth is due to the increase of gold content in ore at Albyn and Malomyr mines. This year the company intends to produce 620 to 720 thousand ounces of gold. Last year Petropavlovsk sold 514 thousand ounces of gold, up…
In January-September Petropavlovsk PLC produced 342.3 thousand ounces of gold, up by 23.4% YoY. The increase is due to the growth of output at Malomyr and Albyn mines because of the higher gold content in ore, as well as processing of concentrate at Pokrovsky combine, which started in July. This year Petropavlovsk intends to produce…
International ratings agency Fitch has improved the Petropavlovsk Plc long-term rating to B- from CCC, with positive outlook. The improvement reflects the considerable strengthening of the company liquidity due to the refinancing of convertible bonds, paying of $57 million worth of loans by IRC Limited, etc. At the same time Fitch noted that financial and…
In January-June Petropavlovsk increased gold sales by 12% YoY, to 225.1 thousand ounces. Dore gold output grew by 15%, to 225 thousand ounces. In particular, in Q2 the company produced 117.3 thousand ounces of gold and sold 117.5 thousand ounces. The production forecast for this year is 450-500 thousand ounces of gold. (Ukrainian metal)
