Brief: Polymetal QTRLY Net Debt Rose To Roughly US$ 2.0 Bln

Polymetal International PK

25/04/2022 07:17

April 25 (Reuters) - Polymetal International PLC  POLYP.L :
    * REG-POLYMETAL INTERNATIONAL PLC POLYMETAL: Q1 2022
PRODUCTION
RESULTS AND GUIDANCE UPDATE
    * POLYMETAL - COMPANY RECONFIRMS ITS FY 2022 PRODUCTION
GUIDANCE
OF 1.7 MOZ GE (1.2 MOZ IN RUSSIA, 0.5 MOZ IN KAZAKHSTAN).
    * POLYMETAL - MEDIUM-TERM PRODUCTION GUIDANCE NOW STANDS AT:
1.65
MOZ FOR 2023, 1.7 MOZ FOR 2024, 1.7 MOZ FOR 2025, 1.8 MOZ FOR
2026
    * POLYMETAL - Q1 GOLD EQUIVALENT PRODUCTION ("GE") DECREASED
BY 6%
YEAR-ON-YEAR (Y-O-Y) TO 372 KOZ
    * POLYMETAL - CAPEX GUIDANCE FOR FULL-YEAR 2022 IS THEREFORE
REVISED TO US$ 650 MILLION (US$ 580 MILLION IN RUSSIA AND US$ 70
MILLION IN KAZAKHSTAN)
    * POLYMETAL - REVENUE FOR QUARTER GREW BY 4% Y-O-Y TO US$
616
MILLION
    * POLYMETAL - SUSPENDED INDEFINITELY ITS PACIFIC POX PROJECT
AND
IS CURRENTLY EVALUATING OPTIONS TO RE-SITE FACILITY IN
KAZAKHSTAN
    * POLYMETAL -  QTRLY NET DEBT ROSE TO ROUGHLY US$ 2.0
BILLION
    * POLYMETAL - COMMENCEMENT OF VEDUGA CONSTRUCTION AS WELL AS
A
NUMBER OF OTHER SMALLER SCALE PROJECTS HAVE ALSO BEEN DELAYED BY
12-18 MONTHS
    * POLYMETAL - POX-2 LIKELY TO EXPERIENCE 6-MONTH SLIPPAGE
MOSTLY
DUE TO SUPPLY CHAIN CHALLENGES, NOW IS EXPECTED TO START
PRODUCTION IN Q2 2024
    * POLYMETAL -  POX-2 IS LIKELY TO EXPERIENCE A 6-MONTH
SLIPPAGE
FROM ORIGINAL SCHEDULE AND NOW IS EXPECTED TO START PRODUCTION
IN Q2 2024
    * POLYMETAL - REVISES ITS FY  TOTAL CASH COST (TCC) GUIDANCE
TO
US$ 850-950/GE OZ (US$ 950-1,050/GE OZ IN RUSSIA AND US$
700-800/OZ IN KAZAKHSTAN)

Source text for Eikon:  ID:nEQxl8Lva 
Further company coverage:  POLYP.L 

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