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Polymetals – Q1 Output falls. Maintains Full Year Guidance
April 16, 2015 9:28 amVideo
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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.
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