Polymetal completes acquisition of Olcha gold-silver deposit

Polymetal International has completed the acquisition of 100 per cent of Olymp, a Russian legal entity holding the mining and exploration licence for the Olcha gold-silver deposit.

Polymetal acquired the deposit together with all inter-company debt owed by Olymp in exchange for 775,000 ordinary shares in Polymetal.

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The new shares are expected to be admitted to trading on the London Stock Exchange on January 25th 2013.

Polymetal's share price was up 3.87% to 1,100p at 13:28 on Thursday afternoon.

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