Polymetal: Polymetal and Blackham Resources Strategic Alliance and Offtake Agreement (1011133)
31 Marzo 2020 - 12:00AM
UK Regulatory
Polymetal International plc (POLY)
Polymetal: Polymetal and Blackham Resources Strategic Alliance and Offtake
Agreement
31-March-2020 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY
Date 31 March 2020
Polymetal International plc
Polymetal and Blackham Resources Strategic Alliance and Offtake Agreement
Polymetal is pleased to announce a refractory gold concentrate offtake
agreement and Strategic Alliance ("Alliance") with Blackham Resources
("BLK"), an Australian gold mining company.
Highlights
? Polymetal and BLK entered into an offtake agreement for the greater of
(i) 70% of refractory sulphide gold concentrate ("Concentrate") from BLK's
Wiluna Stage 1 expansion project during its first three years of operation
or (ii) 122.5 thousand tonnes of Concentrate containing at least 195 Koz
of gold.
? Upon expiration of the initial three-year period of Stage 1 and during
Stage 2 of the Wiluna expansion project, Polymetal will obtain exclusive
offtake rights for up to 100% of BLK's Concentrate production.
? The Alliance will establish a process of two- way technical data sharing
in respect of the potential expansion of Wiluna Concentrate production and
certain regional projects.
? The Alliance aims at reducing the global environmental footprint of
refractory sulphide gold ores and concentrates processing as its key
long-term goal.
"Using POX technology to process refractory gold concentrates results in the
smallest environmental footprint. Our collaboration with BLK addresses a
crucial challenge of the global gold mining industry and leverages
Polymetal's core technical capabilities", said Vitaly Nesis, Group CEO of
Polymetal.
About BLK
Blackham Resources Limited is a Perth based, ASX listed gold mining company
that owns 100% of the Wiluna gold operation located in Australia's biggest
gold belt. The operation has large defined Mineral Resources of 6.4 Moz of
gold at a grade of 2.1 g/t.
The Wiluna deposit is located close to the town of Wiluna, approximately 750
km northeast of Perth. Wiluna ores are either oxide, refractory sulphide, or
quartz reef free-milling ores, with most gold occurring within fine-grained
sulphides. Currently the only operating CIL plant is treating oxide ores
from both Wiluna and other nearby mining centres. The company implements the
expansion project to unlock the value of refractory ores which comprises of
two stages. Stage 1 assumes 110 Koz average annual gold production from
sulphide ores during 2021-2027 following by Stage 2 of expansion which will
see an increase of annual production to 250 Koz of gold for more than 10
years.
About Polymetal
Polymetal International plc (together with its subsidiaries - "Polymetal",
the "Company", or the "Group") is a top-20 global gold producer and a top-5
global silver producer with assets in Russia and Kazakhstan. The Company
combines strong growth with a robust dividend yield.
Enquiries
Media Investor Relations
FTI +44 20 3727 Polymetal ir@polymetalinternational.com
Consulting 1000
Evgeny +44 20 7887 1475 (UK)
Leonid Fink Monakhov
Viktor Timofey
Pomichal Kulakov
+7 812 334 3666 (Russia)
Kirill
Kuznetsov
Joint Corporate Brokers
Morgan +44 20 7425 RBC +44 20 7653 4000
Stanley & 8000 Europe
Co. Limited
Internationa
l plc
Marcus
Jackson
Andrew
Foster
Jamil
Miah
Richard
Brown
Panmure
Gordon
+44 20 7886
2500
James
Stearns
Forward-looking statements
This release may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements speak only as
at the date of this release. These forward-looking statements can be
identified by the use of forward-looking terminology, including the words
"targets", "believes", "expects", "aims", "intends", "will", "may",
"anticipates", "would", "could" or "should" or similar expressions or, in
each case their negative or other variations or by discussion of strategies,
plans, objectives, goals, future events or intentions. These forward-looking
statements all include matters that are not historical facts. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the company's control that
could cause the actual results, performance or achievements of the company
to be materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such
forward-looking statements are based on numerous assumptions regarding the
company's present and future business strategies and the environment in
which the company will operate in the future. Forward-looking statements are
not guarantees of future performance. There are many factors that could
cause the company's actual results, performance or achievements to differ
materially from those expressed in such forward-looking statements. The
company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statements
are based.
ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 55540
EQS News ID: 1011133
End of Announcement EQS News Service
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March 31, 2020 02:00 ET (06:00 GMT)
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