Brief: Petropavlovsk Announces Commissioning Of POX Hub, Updates on IRC
27/11/2018 07:27
Nov 27 (Reuters) - Petropavlovsk PLC POG.L :
* SAYS ANNOUNCES SUCCESSFUL PROGRESS IN COMMISSIONING OF
COMPANY'S
PRESSURE OXIDATION (POX) HUB
* SAYS IS ON TRACK FOR GOLD PRODUCTION FROM POX PLANT IN Q1
2019,
WITH PRODUCTION RAMPING UP THROUGHOUT 2019
* SAYS FIRST REFRACTORY ORE CONCENTRATE PROCESSING SCHEDULED
FOR
28 NOVEMBER
* SAYS DISCUSSIONS WITH ICBC ARE AT AN ADVANCED STAGE WITH A
VIEW
TO IRC OBTAINING A WAIVER FOR UPCOMING 20 DECEMBER 2018 PAYMENT
UNTIL REFINANCING IS FINALISED
* SAYS GROUP IS IN FINAL STAGES OF CONCLUDING REFINANCING
AGREEMENT AND SUBSEQUENT STAGED GUARANTEE REDUCTION OF A NEW
US$240 MILLION
* SAYS IT IS ANTICIPATED THAT A REDUCTION IN COMPANY'S
GUARANTEE
OBLIGATIONS TO ZERO WILL BE ACHIEVED BEFORE END OF 2020
Source text for Eikon: ID:nRSa5541Ia
Further company coverage: POG.L
(Gdynia Newsroom)
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