Polymetal gold production rises 8% to 214,000 ounces in Jan–Mar

MOSCOW, Apr 18 (PRIME) -- Gold output of precious metals producer Polymetal International increased 8% on the year to 214,000 ounces, while silver production decreased 3% to 6 million ounces in January–March, the company said in a statement on Wednesday.

Total output in gold equivalent grew 5% on the year to 295,000 ounces in the period.

Revenue went up 19% to U.S. $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.

For further details, see the company’s statement on its official website:

http://www.polymetalinternational.com/en/investors-and-media/news/press-releases/18-04-2018/

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