Polymetal: Ore Reserves, Mineral Resources and Exploration update as at 1 January 2021
In 2021, further exploration at Eastern Bakyrchik sites is planned to convert open-pit Mineral Resources into the Indicated category.
Polymetal International plc (POLY) Polymetal: Ore Reserves, Mineral Resources and Exploration update as at 1 January 2021 Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Polymetal International plcOre Reserves, Mineral Resources and Exploration update as at 1 January 2021 Polymetal announces its Ore Reserves and Mineral Resources as at 1 January 2021 in accordance with the JORC Code (2012) and exploration update for the year ended 31 December 2020. "We delivered maiden reserve estimates at several of our projects resulting in a substantial increase in total Group Ore Reserves. We are confident in our ability to continue per share reserve accretion while maintaining conservative price assumptions", said Vitaly Nesis, Group CEO of Polymetal. "This year we are going to significantly advance our greenfield exploration with the aim of extending resource base at a relatively low finding cost". 2020 HIGLIGHTS
Ore Reserves and Mineral Resources summary (1), (2)
2021 OUTLOOK In 2021, Polymetal will continue to invest in both near-mine and greenfield exploration projects in order to increase Ore Reserves. The key objectives are:
Ore Reserves and Mineral Resources structure by metal as at 1 January 2021
Ore Reserves reconciliation, GE Moz (1)
Ore Reserves and Mineral Resources as at 1 January 2021 (1)
Exploration areas and volumes (mine site exploration excluded) (1), (2)
EXPLORATION RESULTS As of 31.12.2020, the company owned 123 licenses for prospecting, exploration and mining of gold, silver, PGMs and base metals. 34 of these licenses were obtained in 2020 while 12 licenses have been relinquished. During the reporting year, geological activities were carried out at 70 projects at 68 licensed properties. In total, 189 km of drilling was completed. Kyzyl
Albazino hub
Omolon hub
Varvara hub
Dukat hub
Svetloye hub
Voro hub
Nezhda
Prognoz
Veduga
PGMs
JUNIOR JOINT VENTURES Taimyr JV
Matenvunay (Chukotka), JV with MEN
Southern Urals project, JV with Rosgeo
Please find the full PDF version of the announcement at the link at the bottom of the page.
About Polymetal Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield. Enquiries
Forward-looking statements This release may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements speak only as at the date of this release. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or "should" or similar expressions or, in each case their negative or other variations or by discussion of strategies, plans, objectives, goals, future events or intentions. These forward-looking statements all include matters that are not historical facts. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the company's control that could cause the actual results, performance or achievements of the company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the company's present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements are not guarantees of future performance. There are many factors that could cause the company's actual results, performance or achievements to differ materially from those expressed in such forward-looking statements. The company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
[1]) GE as at 01 January 2021 includes gold and silver only here and further in the report unless otherwise stated. Base metals are excluded due to their immateriality. Attachment File: Polymetal: Ore Reserves, Mineral Resources and Exploration update as at 1 January 2021 |
ISIN: | JE00B6T5S470 |
Category Code: | MSCH |
TIDM: | POLY |
LEI Code: | 213800JKJ5HJWYS4GR61 |
Sequence No.: | 94473 |
EQS News ID: | 1171793 |
End of Announcement | EQS News Service |
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