Printer Friendly

Polymetal Ore reserves declined.

Summary: Polymetal has released an updated reserves and resources statement.

Polymetal has released an updated reserves and resources statement. Ore reserves declined 12% to 13.3mnoz of gold eq. as the company decreased the cut-off price to USD 1,300/oz and USD 22.5/oz for gold and silver, respectively. Reserves accretion was largely driven by resource-to-reserve conversion at Oroch (241koz of gold eq.) and the Maminskoye acquisition (913koz of gold eq.). The decreases are attributable to geotechnical and economic factors driving changes in mine plans for Birkachan, Sopka and Dalnee, as well as the exclusion of remote ore zones at Dukat and the postponement of Khakanja UM. The company commented it expects reserves additions at Svetloye, Albazino and Kutyn in 2014.

Copyright EMBIN (Emerging Markets Business Information News) Provided by , an company

COPYRIGHT 2014 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:EMBIN (Emerging Markets Business Information News)
Date:Mar 18, 2014
Previous Article:DNO starts production.
Next Article:Global Ports results.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters