20th Aug 2018 08:34
LONDON (Alliance News) - Polymetal International PLC said Monday it shipped the first gold from its Kyzyl mine in Kazakhstan.
The FTSE 250 miner said it shipped approximately 2,000 tonnes of gold concentrate to an off-taker in China.
Meanwhile, Polymetal said Kyzyl's ramp up is proceeding according to plan, with the operation expected to achieve its nameplate capacity of 150 carats per month and recoveries of 86% by October.
Polymetal expects to produce 80,000 ounces of payable gold from the mine this year, ramping up production to 280,000 ounces in 2019 and 330,000 ounces thereafter.
Polymetal shares were trading up 1.5% at 654.40 pence each early Monday morning.
Related Shares:
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