POLY Polymetal International Plc

 
 Polymetal International plc (POLY) 
Polymetal: Exploration JV in Bashkortostan 
 
10-Aug-2020 / 09:01 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY 
Date         10 August 2020 
 
Polymetal International plc 
 
           Exploration JV in Bashkortostan 
 
        Polymetal is pleased to announce a joint venture with Rosgeology JSC 
       ("Rosgeo") to carry out exploration in the Republic of Bashkortostan, 
           Russia. 
 
     The joint venture will be focused on exploration at the Novopetrovskaya 
  property in the south of the Republic of Bashkortostan to discover pyritic 
           copper-zinc mineralization. 
 
    "We continue to leverage our exploration strategy through joint ventures 
with dedicated and experienced professionals. Rosgeo is a recognized Russian 
       leader in greenfield exploration, whose previous prospecting works at 
  Novopetrovskaya proved its further exploration potential. This partnership 
  reinforces our presence in the promising Urals region", said Vitaly Nesis, 
           Group CEO of Polymetal. 
 
           TRANSACTION HIGHLIGHTS 
 
? Under the arrangement, Polymetal has acquired a 75% stake in the 
wholly-owned subsidiary of Rosgeo, which owns the license for the 
Novopetrovskaya area, for a total cash consideration of RUB 490 million 
(approximately US$ 7 million). 
 
? Polymetal has also been granted a 7-year call option to acquire the 
remaining 25% interest following the Russian statutory reserve estimate 
(GKZ). 
 
? Polymetal, through shareholder loans, will provide exploration funding 
sufficient to complete a GKZ reserve estimate. 100 km of drill holes is 
expected to be completed resulting in JORC-compliant Mineral Resource 
estimate in 2023. 
 
           About Rosgeo 
 
   Rosgeo is the largest Russian geological exploration holding. The company 
   provides a full range of services related to geological exploration works 
 and operates in 40 Russian regions and globally. Rosgeo has discovered more 
    than 1,000 mineral deposits, including the largest Russian gold deposit, 
           Sukhoi Log. 
 
 Rosgeo carried out the exploration campaign at Novopetrovskaya in 2015-2017 
 on the area of 28 km2, which identified significant copper, zinc as well as 
           gold and silver potential resources. 
 
           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 
 
Media                     Investor Relations 
 
FTI          +44 20 3727  Polymetal ir@polymetalinternational.com 
Consulting   1000 
 
                          Evgeny    +44 20 7887 1475 (UK) 
Leonid Fink               Monakhov 
 
Viktor                    Timofey 
Pomichal                  Kulakov 
 
                                    +7 812 334 3666 (Russia) 
 
                          Kirill 
                          Kuznetsov 
 
Joint Corporate Brokers 
 
Morgan       +44 20 7425  RBC       +44 20 7653 4000 
Stanley &    8000         Europe 
Co.                       Limited 
Internationa 
l plc 
 
                          Marcus 
                          Jackson 
Andrew 
Foster 
 
                          Jamil 
                          Miah 
Richard 
Brown 
 
Panmure 
Gordon 
 
James 
Stearns      +44 20 7886 
             2500 
 
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. 
 
ISIN:          JE00B6T5S470 
Category Code: MSCM 
TIDM:          POLY 
Sequence No.:  80818 
EQS News ID:   1113727 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 10, 2020 02:01 ET (06:01 GMT)

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