REG - Polymetal Int PLC - Reserves and Resources update as at 1 January 2016 <Origin Href="QuoteRef">POLYP.L</Origin> - Part 2

Polymetal International PKAnnouncement

24/03/2016 13:41

- Part 2: For the preceding part double click  ID:nRSX1479Ta 

flotation               79     
 Birkachan                            Cyanidation сarbon-in-pulp           90     
 Heap leaching+сarbon-in-colon        104                                       
 Sopka Kvartsevaya                    Cyanidation+Merrill Crowe process    88     
 Heap leaching+Merrill Crowe process  108                                       
 Oroch                                Cyanidation+Merrill Crowe process    73     
 Dalneye                              Cyanidation+Merrill Crowe process    97     
 Heap leaching+Merrill Crowe process  126                                       
 Tsokol Kubaka                        Cyanidation сarbon-in-pulp           90     
 Burgali                              Cyanidation+Merrill Crowe process    115    
 Irbychan                             Cyanidation+Merrill Crowe process    80     
 Yolochka                             Cyanidation сarbon-in-pulp           91     
 Nevenrekan                           Cyanidation+Merrill Crowe process    98     
 Voro                                 Heap leaching+Merrill Crowe process  219    
 Cyanidation сarbon-in-pulp           110                                       
 Tamunier                             Conventional flotation               199    
 Svetloye                             Heap leaching+Merrill Crowe process  467    
 Avlayakan                            Cyanidation+Merrill Crowe process    81     
 Ozerny                               Cyanidation+Merrill Crowe process    93     
 Khakanja                             Cyanidation+Merrill Crowe process    107    
 Kirankan (1)                         Cyanidation+Merrill Crowe process    60     
 
 
1)         Silver to gold equivalent conversion ratios were not recalculated
to deposits that were evaluated in 2011-2012. 
 
Gold equivalent conversion ratio for polymetallic deposits 
 
AuEqv=Me/k 
 
Where Me is the evaluated metal content (copper, silver) 
 
Where k is the silver to gold equivalent conversion rate that is calculated
considering the difference in metals value issuing the following formula: 
 
For silver (similar to the formula for precious metals deposits), for copper
(%):
k = 100*((Au price/31.1035-tretment charge Au)*(1-royalty Au%/recovery
Au%)*(recovery Au%))/((Cu price-treatment charge Cu)*(1-royalty Cu%/recovery
Cu%)*(recovery Cu%)) 
 
where Royalty is the mineral extraction tax at applicable rate, recovery -
life-of-mine expected recovery of the respective metal in the processing
technology applied. 
 
Gold equivalent conversion ratios for polymetallic deposits 
 
 Deposit                                                        Ore processing technology                k     
 Ag                                                             Cu                                       
 Varvara                                                        Powder ore with high copper content (1)        0.48  
 Primary ore with high copper content - conventional flotation                                           0.48  
 Tarutin                                                        Primary ore - conventional flotation     94    0.53  
 Oxidised ore - conventional flotation                          94                                       0.53  
 North Kaluga                                                   Conventional flotation                   91    0.68  
 
 
1)         This type of ore is currently not being processed, it is stockpiled
and reflected only in Mineral Resources. 
 
This information is provided by RNS
The company news service from the London Stock Exchange