Polymetal International plc Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Twelve Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018 and Re-Confirms Production Guidance for 2018 and 2019
January 24, 2018 at 07:00 am
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Polymetal International Plc announced unaudited consolidated earnings and operating results for the fourth quarter and twelve months ended December 31, 2017. For the quarter, the company announced that the company's ore mined was 2,945 kt compared to 4,186 kt for the same period a year ago. Ore processed was 3,026 kt compared to 2,824 kt for the same period a year ago. Gold production was 317 Koz compared to 285 Koz for the same period a year ago. Silver production was 6.6 Moz compared 7.0 Moz for the same period a year ago. Copper production was 0.8 kt compared to 0.2 kt for the same period a year ago. Gold equivalent production was 405 Koz compared to 375 Koz for the same period a year ago. Zinc production was 1.2 Kt against 0.9 Kt a year ago.
For the twelve months, the company announced that the company's ore mined was 12,589 kt compared to 13,380 kt for the same period a year ago. Ore processed was 13,037 kt compared to 11,417 kt for the same period a year ago. Gold production was 1,075 Koz compared to 890 Koz for the same period a year ago. Silver production was 26.8 Moz compared to 29.2 Moz for the same period a year ago. Copper production was 2.7 kt compared to 1.5 kt for the same period a year ago. Gold equivalent production was 1,433 Koz compared to 1,269 Koz for the same period a year ago. Zinc production was 4.8 Kt against 2.9 Kt a year ago.
For the quarter, sales amounted to USD 586 million against USD 524 million a year ago. Net debt was USD 1,421 million against USD 1,599 million a year ago.
For the twelve months, sales were USD 1,815 million against USD 1,583 million a year ago. Net debt was USD 1,421 million against USD 1,329 million a year ago.
The capital expenditure in 2018 is expected to be slightly lower compared to 2017 at roughly USD 400 million.
The company reiterates its production guidance for 2018 and 2019 of 1.55 Moz and 1.7 Moz of gold equivalent, respectively.
Solidcore Resources plc PK is a Kazakhstan-based company primarily engaged in gold and silver mining operations. The Company supports the entire mining cycle that includes exploration, development, ore mining, logistics, processing, sales and mining closure. It operates through following segments: Kazakhstan, Magadan, Ural, Khabarovsk, and Yakutia. The Kazakhstan segment involves in operations in Varvara, Komar and Kyzyl. The Magadan segment consists of operations in Omolon, Dukat and Mayskoye. The Ural segment focuses on the operation in Voro. The Khabarovsk segment comprises of operations in Amursk POX, Albazino, Svetloye, Veduga, and Kutyn. The Yakutia segment involves in operations in Nezhda and Prognoz. This year the Company re-domiciled from Jersey to Kazakhstan.
Polymetal International plc Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Twelve Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018 and Re-Confirms Production Guidance for 2018 and 2019