Polymetal International plc: First JV with a junior explorer

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Polymetal International plc (POLY) 
Polymetal International plc: First JV with a junior explorer 
 
01-Apr-2019 / 09:01 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Release time IMMEDIATE LSE, MOEX: POLY / ADR: AUCOY 
Date         01 April 2019 
 
Polymetal International plc 
 
First JV with a junior explorer 
 
     Polymetal is pleased to announce its first strategic partnership with a 
           junior for 
      early-stage exploration in the Taimyr Peninsula, Russia ("Taimyr JV"). 
 
 "We are excited to form a partnership with a team of talented and energetic 
     geologists", said Vitaly Nesis, Group CEO of Polymetal. "The goal is to 
bring together Polymetal's financial and permitting clout and junior's fresh 
           thinking and fast decision-making." 
 
          Polymetal will hold 70% in the Taimyr JV by way of an initial cash 
      investment of US$1.9 million towards an agreed field program that will 
 commence after the receipt of all regulatory permits. The Company will have 
       the option to increase its stake in the project to 100% following the 
          completion of an initial JORC-compliant Mineral Resource estimate. 
 
       The prospective exploration area exhibits multiple traces of porphyry 
           copper-molybdenum-gold mineralisation identified during historic 
           reconnaissance activities. 
 
      Polymetal will continue to evaluate other investment opportunities and 
           partnerships with junior explorers in Russia. 
 
           About Polymetal 
 
Polymetal International plc (LSE, MOEX: POLY, ADR: AUCOY) (together with its 
      subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20 
 global gold producer and top-5 global silver producer with assets in Russia 
   and Kazakhstan. The Company combines strong growth with a robust dividend 
           yield. 
 
           Enquiries 
 
Media                     Investor Relations 
 
FTI          [phone]  Polymetal [e-mail] 
Consulting   1000 
 
                          Eugenia   [phone] (UK) 
Leonid Fink               Onuschenk 
                          o 
 
Viktor 
Pomichal                  Timofey 
                          Kulakov 
                                    [phone] (Russia) 
 
                          Michael 
                          Vasiliev 
 
Joint Corporate Brokers 
 
Morgan       [phone]  RBC       [phone] 
Stanley      8000         Europe 
                          Limited 
 
Andrew 
Foster                    Tristan 
                          Lovegrove 
 
Richard 
Brown                     Marcus 
                          Jackson 
 
Panmure 
Gordon       [phone] 
             2500 
 
Charles 
Lesser 
 
James 
Stearns 
 
FORWARD-LOOKING STATEMENTS 
 
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"FORWARD-LOOKING STATEMENTS". THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS 
        AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE 
   IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS 
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EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, 
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 TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS 
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  FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE 
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WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE 
     NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD 
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COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY 
  UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO 
 REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY 
  CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS 
           ARE BASED. 
 
ISIN:          JE00B6T5S470 
Category Code: MSCL 
TIDM:          POLY 
Sequence No.:  8017 
EQS News ID:   793973 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

April 01, 2019 02:01 ET (06:01 GMT)