Petropavlovsk PLC Results dates and corporate update (2328M)
20 January 2021 - 6:00PM
UK Regulatory
TIDMPOG
RNS Number : 2328M
Petropavlovsk PLC
20 January 2021
20 January 2021
Petropavlovsk PLC
Results dates and corporate update
Petropavlovsk PLC ("Petropavlovsk", or the "Company" and,
together with its subsidiaries, the "Group") provides the following
corporate update.
The Group's mines continue to operate as normal, despite the
significant ongoing challenges presented by the COVID 19 pandemic
.
The Company will announce its Q4 and FY 2020 Sales &
Production Report on 26 January 2021. The production and capex
outlook for 2021 and the release date for 2020 Annual Results will
be announced separately.
The Group reported, in its Interim Results of 30 October 2020, a
lack of co-operation from a small group of senior employees and
ongoing related legal hearings in Russia. These matters have
improved markedly in recent weeks, with co-operation restored and a
further update will be provided at the Group's Annual Results.
The Company notes that on 24 December 2020 the former Chief
Executive, Pavel Maslovskiy, was reported to have been arrested in
Russia on a charge of embezzlement related to a real estate
transaction in 2018. The proceedings will be monitored and, to the
extent that they impact on or involve the Group, we will update the
market accordingly.
About Petropavlovsk
Petropavlovsk PLC (LSE: POG. MOEX: POGR) is a major integrated
Russian gold producer with JORC Resources of 21.03Moz Au which
include Reserves of 8.46Moz Au. Following its IPO on the
Alternative Investment Market (AIM) in 2002, Petropavlovsk was
promoted to the London Stock Exchange in 2009, where today it is a
Premium Listed company and a constituent of the FTSE 250, FTSE 350
and FTSE All Share indices.
The Company's key operating mines (Pioneer, Malomir and Albyn)
are in the Amur Region in the Russian Far East. Petropavlovsk has
produced a total of c.8.1Moz of gold since operations began in 1994
and has a strong track record of mine development, expansion and
asset optimisation.
The Group recently entered a new era of growth following the
successful commissioning and start-up of its flagship asset, the
Pressure Oxidation (POX) Hub at Pokrovskiy, which enables the
processing of the Company's abundant refractory reserves and
resources.
Petropavlovsk is one of the region's largest employers and one
of the largest contributors to the sustainable development of the
local economy.
For more information
Please visit www.petropavlovskplc.com or contact:
Petropavlovsk PLC
Patrick Pittaway / Max Zaltsman / Viktoriya +44 (0) 20 7201 8900
Kim TeamIR@petropavlovskplc.com
Hudson Sandler
Charlie Jack / Katerina Parker / Elfie +44 (0) 20 7796 4133
Kent Petropavlovsk@hudsonsandler.com
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END
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