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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Polymetal International plc    POLY   JE00B6T5S470

POLYMETAL INTERNATIONAL PLC

(POLY)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 10/22 11:30:00 am
1780 GBX   +0.79%
02:05aPOLYMETAL : Q3 2020 production results
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10/15POLYMETAL INTERNATIONAL : Issuance of new shares
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10/15POLYMETAL : Issuance of new shares
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Polymetal International : Prognoz initial Ore Reserve estimate

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09/17/2020 | 09:05am EDT

Polymetal announces initial JORC-compliant Ore Reserve estimate for Prognoz of 142 Moz of silver ('Ag') at 560 g/t.

'The estimate confirms that Prognoz is one of the best silver development projects globally', said Vitaly Nesis, CEO of Polymetal. 'We will continue to advance the project towards development'.

HIGHLIGHTS

The initial JORC-compliant open-pit Ore Reserve estimate as at 1 March 2020 comprises 7.9 Mt of ore with an average Ag grade of 560 g/t containing 142 Moz of silver. Reserves have been assessed for Glavnaya (Main), Boloto (Swamp) and Yuzhnaya (Southern) ore zones only.

Reserve estimate is based on US$ 15/oz silver price with silver representing approximately 90% of value contained at this price level.

Mineral Resources additional to Ore Reserves are estimated at 5.6 Mt of mineralized material with an average grade of 552 g/t for 100 Moz of silver contained.

The Preliminary Feasibility Study assumes 9 years of open-pit mining with conventional flotation flowsheet producing clean high-grade concentrate.

The Company expects average annual production of 13.5 Moz of payable silver at AISC in the range of US$ 8-9/oz.

Total project's capital expenditures are expected to amount to US$ 319 million comprising US$ 250 million of pre-production CAPEX (including pre-stripping costs) and US$ 69 million of maintenance CAPEX.

ABOUT PROGNOZ

Prognoz is the largest undeveloped primary silver deposit in Russia. The license is located in the Verkhoyansk municipal district in the Republic of Sakha (Yakutia), Russia. The property is located approximately 980 km from the regional center of Yakutsk (population of 300,000) and 720 km by road from Polymetal's Nezhda project.

Silver-copper-lead-zinc mineralization, represented by quartz-carbonate-sulphide veins, is located in a sequence of sedimentary rocks composed of Triassic sandstones and siltstones. Nine mineralised zones are defined, with Main and Swamp being the largest. Mineralized material is partially oxidised with the depth of weathering varying widely dependent on relief and proximity of water table. The deposit lies in a mountainous region with elevations ranging from 300 m - 1,100 m above sea level. The local topographic relief in the area of the exploration ranges in elevation from 300 m to 350 m.

In April 2018, Polymetal consolidated 100% in the asset. In October 2018, the Company completed JORC-compliant Mineral Resource estimate of 237 Moz of silver at 731 g/t.

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.

Contact:

Tel: +44.20.7887.1475

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 2 862 M - -
Net income 2020 1 090 M - -
Net Debt 2020 1 124 M - -
P/E ratio 2020 10,2x
Yield 2020 5,78%
Capitalization 10 995 M 10 961 M -
EV / Sales 2020 4,23x
EV / Sales 2021 3,62x
Nbr of Employees 12 083
Free-Float 75,4%
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Mean consensus BUY
Number of Analysts 18
Average target price 30,02 $
Last Close Price 23,19 $
Spread / Highest target 103%
Spread / Average Target 29,5%
Spread / Lowest Target -30,0%
EPS Revisions
Managers
NameTitle
Vitaly Natanovich Nesis Group Chief Executive Officer & Executive Director
Ian David Cockerill Chairman
Vitaly Valerevich Savchenko Chief Operating Officer
Maxim Nazimok Chief Financial Officer
Konstantin Periklovich Yanakov Non-Executive Director
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