Petropavlovsk: 2016 Gold Production in Line With Guidance
26 Gennaio 2017 - 11:23AM
Dow Jones News
LONDON--Petropavlovsk PLC (POG.LN) said 2016 gold production was
in line with its revised guidance and the company now estimates
production in the new year to be between 420,000 and 460,000 ounces
per annum, predominantly from open pit operations.
The Russian gold miner recorded production totaled 416,000 gold
ounces and sales of around 400,000 ounces for 2016 at an average
realized gold price of $1,222 per ounce. It has reiterated 2016
total cash costs of $700 per ounce and all in sustaining cash costs
of $800 per ounce.
Total capital expenditure for 2016 is estimated at $30
million.
For 2017, Petropavlovsk estimates total cash cost per gold ounce
of between $600 and $700 and all in sustaining cash costs of $800
and $900 per ounce. Capital expenditure for 2017 is expected to be
between $100 million and $110 million.
Shares at 0950 GMT trading 0.3% lower at 7 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
January 26, 2017 05:08 ET (10:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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