Metals mining group Polymetals (POLY.L) today announced that output in the first quarter has fallen,driven by a decline in grades at two of its mines.

Gold production declined 3% in the first quarter to 186,000 ounces, while silver production dropped 7% to 6.8m ounces. Total sales declined 11% to $298m, as gold sales rose 1% but silver sales fell a massive 14%.

The company however reiterated its full year targets and  said the development of new projects remained on track.

Shares in Polymetals (POLY.L) were trading flat this morning around 580p.

 

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.