Polymetal reduces ownership in Polygon Gold
Mining heavyweight Polymetal International has announced that its equity ownership in Polygon Gold, which owns the Veduga gold deposit in the Krasnoyarsk region of the Russian Federation, has decreased from 81.8 to 42.6 per cent.
Mining heavyweight Polymetal International has announced that its equity ownership in Polygon Gold, which owns the Veduga gold deposit in the Krasnoyarsk region of the Russian Federation, has decreased from 81.8 to 42.6 per cent.
The reduction has occurred partly as a result of an increase in Polygon's share capital by 471 shares to 1,571 for $14.2m, the proceeds of which will be used to finance the Veduga project and repay part of Polygon's debt.
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