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Polymetal: Report on payments to governments for the year 2020
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Polymetal International PLC (LSE:POLY) | RNS | Polymetal: Report on payments to governments for the year 2020
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In Q1 2021, Polymetal delivered strong production, strong free cash flow, and steady progress across development projects , said Vitaly Nesis, Group CEO of Polymetal. COVID-related construction cost inflation remains a pressing concern despite gradual improvements in the epidemiological situation .
HIGHLIGHTS
No fatal accidents occurred among Group workforce and contractors in Q1 2021 (consistent with Q1 2020). Lost time injury frequency rate (LTIFR) among the Group s employees stood at 0.25 (0.07 in Q1 2020) as there were seven lost-time accidents mostly related to falling or being hit by an object.
Gold equivalent ( GE ) production in Q1 grew by 3% year-on-year (y-o-y) to 375 Koz. All-time highest quarterly production from Varvara and strong performance across other assets offset the planned grade-driven decline at Kyzyl.
In Q1 2021, Polymetal delivered strong production, strong free cash flow, and steady progress across development projects , said Vitaly Nesis, Group CEO of Polymetal. COVID-related construction cost inflation remains a pressing concern despite gradual improvements in the epidemiological situation .
HIGHLIGHTS
No fatal accidents occurred among Group workforce and contractors in Q1 2021 (consistent with Q1 2020). Lost time injury frequency rate (LTIFR) among the Group s employees stood at 0.25 (0.07 in Q1 2020) as there were seven lost-time accidents mostly related to falling or being hit by an object.
Gold equivalent ( GE ) production in Q1 grew by 3% year-on-year (y-o-y) to 375 Koz. All-time highest quarterly production from Varvara and strong performance across other assets offset the planned grade-driven decline at Kyzyl.
Ore Reserves, Mineral Resources and Exploration update as at 1 January 2021
Polymetal announces its Ore Reserves and Mineral Resources as at 1 January 2021 in accordance with the JORC Code (2012) and exploration update for the year ended 31 December 2020. We delivered maiden reserve estimates at several of our projects resulting in a substantial increase in total Group Ore Reserves. We are confident in our ability to continue per share reserve accretion while maintaining conservative price assumptions , said Vitaly Nesis, Group CEO of Polymetal. This year we are going to significantly advance our greenfield exploration with the aim of extending resource base at a relatively low finding cost .
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