Russian gold miner Petropavlovsk has maintained its production targets for the full year and reported progress in its exploration work.
Attributable production across its five mines for the second quarter was 158,300 ounces, a 10% rise on the same period of 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Petropavlovsk has reiterated its 700,000 ounce target for the full year, betting that it will get a bigger contribution from seasonal heap-leach and alluvial operations and expanded processing capacity at the Pioneer and Albyn sites.
The firm is hinting there has been some success with exploration in the Amur region, telling the market a new reserves estimate will be published on August 23rd.
Petropavlovk's shares had risen 6.8% by 09:49.
BS
-
Tesla seeks approval to supply electricity to UK homes – could it disrupt the energy market?Tesla has applied for a license to supply UK households with electricity, but taking on the biggest providers could prove challenging
-
Most Brits unaware onshore bonds can help beat inheritance tax – here’s howA little-known perk of certain types of bonds can let your loved ones off the hook when it comes to inheritance tax – but two-thirds of people have never heard of them
