Output races ahead of sales at Polymetal

Precious metals miner Polymetal International produced more than half a million ounces of gold equivalent in the first half of 2012, with production reaching a new high in the second quarter.

Precious metals miner Polymetal International produced more than half a million ounces of gold equivalent in the first half of 2012, with production reaching a new high in the second quarter.

Sales lagged production due to temporary increases in work-in-progress at the Omolon, Albazino, and Dukat mines, however. These increases in work-in-progress, accompanied by corresponding cash outflows, are expected to be reversed before year-end with cash inflows in the second half of 2012.

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