AUCOY - Polymetal says gold bullion sales in Russia are restored

Polymetal (AUCOY, POYYF) shares spike as much as 12%in London after saying it has restored gold sales in Russia and confirming it is delaying or suspending some of its projects in the country due to sanctions. According to Dow Jones, Polymetal says sales of gold bullion in Russia have been restored to new counterparties on terms consistent with those received earlier, and that local retail investment is boosting domestic demand. The miner also confirms its current operations in both Russia and Kazakhstan continue undisrupted, while reaffirming 2022 production guidance of 1.7M gold equiv. oz, but it has reassessed its development projects against the backdrop of current sanctions, and has suspended the proposed Pacific POX project in Russia indefinitely and is considering siting the facility in Kazakhstan. Polymetal says its board continues to re-evaluate the dividend recommendation in light of the current funding and regulatory uncertainty. Polymetal reportedly is considering a

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Polymetal says gold bullion sales in Russia are restored