Nevertheless, Polymetal met original production guidance and maintained solid safety performance. In 2023, we are targeting stable production and return to free cash flow generation', said
HIGHLIGHTS
No fatal accidents among the Group's employees and contractors occurred in 2022. Lost time injury frequency rate (LTIFR) among the Company's workforce for the full year decreased by 17% year-on-year (y-o-y) to 0.10. Days lost due to work-related injuries (DIS) fell by 42% y-o-y to 877.
The Company's FY 2022 gold equivalent ('
POX-2 and other developement projects progressed in line with the revised schedules. 2023 will be marked by the launch of Voro flotation plant and start of mining at Prognoz.
Revenue for FY 2022 stood at
In Q4, net debt decreased by
The Company expects full-year Total Cash Costs ('TCC') and All-in Sustaining Cash Costs ('AISC') to be within the announced guidance range of
2023 OUTLOOK
The Company reiterates its current production guidance for FY 2023 of 1.7 Moz of
Polymetal expects its costs to be in the ranges of
Capital expenditures are expected to be approximately
Based on
UPDATE ON THE POTENTIAL MODIFICATION OF ASSET HOLDING STRUCTURE
As previously announced, the Company has continued to evaluate all available options to modify its asset holding structure in order to maximise shareholder value.
Further to the announcement on
Based on the initial analysis, the Company are of the view that a re-domiciliation into the
Should the Company proceed with a re-domiciliation to the AIFC, The Company's primary listing may move to AIX where its Ordinary Shares will be traded with the new ISIN. The Company will look to ensure continuous liquidity of trading.
The evaluation of the re-domiciliation process continues to be ongoing and will, in any event, be subject to a number of conditions. No decision has been made in relation to the various options available to the Company. There can therefore be no certainty that the Company will proceed with, or ultimately complete, a re-domiciliation nor any certainty as to which jurisdiction would be ultimately selected were it to proceed.
The Company confirms that any actions will be compliant with all applicable international sanctions, counter-sanctions and regulatory requirements.
CONFERENCE CALL AND WEBCAST
The Group's management will discuss production results during the Analyst and Investor Day on Wednesday,
About polymetal
Contact:
Investor
Tel: +44.20.7887.1475
Tel: +7.812.334.3666
Tel: +7.717.261.0222
E: ir@polymetalinternational.com
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