Polymetal says consolidates 100% stake in Nezhdaninskoye deposit - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Polymetal says consolidates 100% stake in Nezhdaninskoye deposit

MOSCOW, Nov 29 (PRIME) -- Russian gold producer Polymetal International has consolidated 100% the Nezhdaninskoye in gold ore deposit, after buying an 82.3% stake from companies owned by businessman Ivan Kulakov, Polymetal said in a report on Thursday.

The purchase encompassed two deals: the acquisition of 7% for U.S. $8 million in cash under a deal announced on July 17, 2017; and the purchase of a 75.3% stake for $144 million, of which $10 million were in cash and $134 million represented by 13.5 million new common shares of the company, which is 2.9% of its extended charter capital.

The total size of the acquisition of 100% in the field stands $185 million, which is $42 per ounce of gold equivalent of the ore reserves, or $15 per gold equivalent of the mineral reserves.

УThis transaction enables us to start mining at the Nezhda immediately and begin construction in March 2019. We expect to deliver first production in 2021 with a full-ramp up in 2022,Ф CEO Vitaly Nesis said, as cited in the statement.


29.11.2018 10:34
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 70.6350 -0.0196 24 jul
USD 63.1290 +0.1514 24 jul
Stock Market Indices
1D 1W 1M 1Y
rtsi 1345.48 +0.32 18:50 23 jul
micex 2701.06 +0.63 18:50 23 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 217.39 +0.12 18:49 23 jul
lkoh 5202.50 +0.72 18:48 23 jul
rosn 428.00 +1.80 18:49 23 jul
sber 232.48 +0.92 18:49 23 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 70.5875 -0.0125 14:59 23 jul
USDTD 63.3000 +0.2500 17:44 23 jul