Prognoz

Polymetal: Q1 2023 production results

Retrieved on: 
Wednesday, May 10, 2023

Polymetal reports production results for the first quarter ended March 31, 2023.

Key Points: 
  • Polymetal reports production results for the first quarter ended March 31, 2023.
  • Management is optimistic that the unwinding of saleable inventory will be substantially completed by the end of Q2 2023.
  • No fatal accidents occurred among the Group’s workforce and contractors in Q1 2023 (consistent with Q1 2022).
  • During Q1 2023, one medium-severity incident and two minor incidents were recorded.

Polymetal: Preliminary results for the year ended 31 December 2022

Retrieved on: 
Thursday, March 16, 2023

The Company’s FY 2022 GE production amounted to 1,712 Koz, a y-o-y increase of 2% and in line with the original production guidance of 1.7 Moz.

Key Points: 
  • The Company’s FY 2022 GE production amounted to 1,712 Koz, a y-o-y increase of 2% and in line with the original production guidance of 1.7 Moz.
  • The first full year of operations at Nezhda and initial production at Kutyn (Albazino hub) compensated for declining grades at mature assets.
  • Amursk POX-2 and other development projects progressed in line with schedules revised after the introduction of international sanctions against Russia in Q1 and Q2 2022.
  • In 2022, Polymetal continued to receive external recognition of its ESG efforts with high ratings and scores by Sustainalytics, Vigeo Eiris and ISS ESG Corporate Rating.

Polymetal: Q4 and FY 2022 production results

Retrieved on: 
Thursday, February 2, 2023

Polymetal (the “Company” or the “Group”) reports strong production results for the fourth quarter of 2022 and meets full-year production guidance of 1.7 Moz GE.

Key Points: 
  • Polymetal (the “Company” or the “Group”) reports strong production results for the fourth quarter of 2022 and meets full-year production guidance of 1.7 Moz GE.
  • In 2023, we are targeting stable production and return to free cash flow generation”, said Vitaly Nesis, Group CEO of Polymetal.
  • The Company’s FY 2022 gold equivalent (“GE”) production amounted to 1,712 Koz, a y-o-y increase of 2% and in line with the original production guidance of 1.7 Moz.
  • Revenue for FY 2022 stood at US$ 2.8 billion, a y-o-y decrease of 3% on the back of lower average gold and silver prices.

Polymetal: Business update

Retrieved on: 
Thursday, June 23, 2022

Polymetal provides an update on its business, including the current impact of sanctions against Russia.

Key Points: 
  • Polymetal provides an update on its business, including the current impact of sanctions against Russia.
  • Since the previous update, Japan joined western countries and imposed additional sanctions against Russia prohibiting exports of industrial goods and technologies.
  • The Board and the management continuously evaluate stability, liquidity and solvency of the business in light of multiple external uncertainties.
  • The Board and the management strongly believe that share buy-backs are presently inappropriate given short-term liquidity challenges, grave business uncertainties, and NSD challenges outlined above.

Polymetal: Business update and impact of sanctions

Retrieved on: 
Friday, April 1, 2022

Polymetal provides a further update on the impact of sanctions and other recent developments in Russia on its business.

Key Points: 
  • Polymetal provides a further update on the impact of sanctions and other recent developments in Russia on its business.
  • Sanctions announced in the period between 9 March and 30 March did not have a material impact on the business of the Group.
  • The Group complies rigorously with all relevant legislation and is implementing comprehensive measures to observe all applicable international sanctions.
  • The scope and impact of any new potential sanctions (and any countersanctions) are yet unknown.

Polymetal: Business update and impact of sanctions

Retrieved on: 
Wednesday, March 9, 2022

Polymetal reports that all its operations in Russia and Kazakhstan continue undisrupted and provides an update on the impact of economic sanctions and the most recent changes in the capital control legislation in Russia.

Key Points: 
  • Polymetal reports that all its operations in Russia and Kazakhstan continue undisrupted and provides an update on the impact of economic sanctions and the most recent changes in the capital control legislation in Russia.
  • Sales of bullion in Russia have been impacted by sanctions imposed by the US, EU and UK.
  • These new regulations are currently not expected to have a material impact on the Company other than the impact on intragroup dividends described above.
  • The scope and impact of any new potential sanctions (and any countersanctions) are yet unknown.

Polymetal: Nezhda start-up

Retrieved on: 
Monday, October 18, 2021

Following the completion of all construction and commissioning activities, Nezhda successfully produced first gold and silver concentrate on October 16th.

Key Points: 
  • Following the completion of all construction and commissioning activities, Nezhda successfully produced first gold and silver concentrate on October 16th.
  • JORC-compliant Ore Reserves at Nezhda are estimated at 4.4 GE Moz at a grade of 3.6 g/t with 24 years of mine-life.
  • Starting from Q3 2022, 100% of energy for Nezhda will be sourced via the power line which is currently under construction.
  • Nezhda will create more than 1,000 permanent jobs and generate more than US$ 20 million per year in taxes for all levels of government.