Polyus Gold increased gold production by 5% in Jan-September 2015
Edited by Rhod Mackenzie / 2015-10-22 12:06:57
Metals and mining Russia Russia mineral extraction Mineral Extraction Financial results Russia Metals and Mining Polyus Gold Gold
In Jan-September 2015 Polyus Gold Int increased gold production by 5% against Jan-September 2014 to 1.291 mln ounces (40.15 tons).
In Jan-September 2015 Polyus Gold sold 1.32 mln ounces of gold against 1.218 mln ounces in Jan-September 2014 (+8%). The revenue from gold sale in Jan-September 2015 is expected by 1% lower – $1.554 bln with the average sales prices of $1,236/ounce (by 6% lower).
As of the end of Jan-September 2015 the company had $2.042 bln of cash on its accounts against $1.370 bln as of June 30th. The company’s net debt in Q3 fell to $115 mln from $381 mln.
Polyus Gold expects gold production in 2015 at the upper limit of the range of 1.63-1.71 mln ounces (50.7-53.2 tons) of gold.
