Polymetal rises on higher Q1 revenue

Polymetal International PK

25/04/2022 09:24

** London-listed shares of Russian gold and silver producer
 POLYP.L  jump 9.2% to 294p 
    ** POLYP Q1 revenue rises 4% to $616 mln from a year earlier
on higher gold prices  urn:newsml:reuters.com:*:nL2N2WN0C6
    ** War in Ukraine and sanctions imposed on Moscow put
"tremendous pressure" on co's Q1
    ** Q1 production of gold equivalent, a mix of gold and other
metals, falls 6% to 372,000 troy ounces
    **  Co raises FY total cash cost forecast to $850-950 per
ounce from previous outlook of $850-900 per ounce, largely due
to the impact of economic sanctions against Russia and sharp
escalation of logistical costs
    ** Including session gains, stock down ~78% YTD 

 (Reporting by Radhika Anilkumar in Bengaluru)
 ((Radhika.Anilkumar@thomsonreuters.com; +91 8067490824;))