Petropavlovsk on track for 2012 production target
Russian gold miner Petropavlovsk has maintained its production targets for the full year and reported progress in its exploration work.
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.
The second-quarter performance means the first half of the year was 27% ahead of 2011, with total production of 279,100 ounces.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Dunelm has done well and looks inexpensive – should you invest?
Home furnishings retailer Dunelm has proved resilient and looks inexpensive
-
QXO: a compelling opportunity in the building materials industry
Opinion The boss of QXO knows how to make a few billion dollars, and aims to repeat the trick. Investors would be wise to back him, says Jamie Ward