Polymetal International plc: New exploration JV...

Polymetal International plc (POLY) Polymetal International plc: New exploration JV with a junior in Chukotka 28-May-2019 / 09:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Release time IMMEDIATE                     LSE, MOEX, AIX: POLY / ADR: AUCOY Date 28 May 2019     Polymetal International plc New exploration JV with a junior in Chukotka Polymetal formed a partnership with a company associated with Mineral Exploration Network (Finland) Ltd ("MEN") for early-stage exploration in the Chaunsk region of Chukotka, Russia. "Our strategy of working with junior explorers is gaining momentum", said Vitaly Nesis, Group CEO of Polymetal. "MEN has extensive and varied experience in using advanced state-of-the-art methods of prospecting and grassroots exploration." The objective of the JV is to discover high-grade near-surface gold mineralisation that can provide feed for the Mayskoye processing plant. The plant is capable for treating both sulphide ore through the flotation circuit and oxide ore through the CIL circuit. Polymetal and MEN have entered into an agreement whereby: Polymetal has agreed to fund a staged exploration campaign that will take place in 2020-2023 and is expected to result in an initial JORC-compliant Mineral Resource or Ore Reserve estimate. Polymetal will earn 25% in the JV by contributing RUB 20 million (approx. US$ 0.3 million) to the share capital with an option to increase its stake to 80% by contributing RUB 60 million (US$ 0.9 million) upon completion of the first-year field program in 2020. Polymetal will also retain a 5-year option to increase its interest to 100% subject to positive exploration results. Total investments by Polymetal are not expected to exceed US$ 10 million. MEN - is an experienced UK-based junior explorer with a strong track record of prospecting in Finland and Spain. MEN will assume responsibility for prospecting an area, which covers approximately 83 km2 in the Chaunsk region of Chukotka. About Polymetal   Polymetal International plc (LSE, MOEX, AIX: POLY, ADR: AUCOY) (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-20 global gold producer and top-5 global silver producer with assets in Russia and Kazakhstan. The Company combines strong growth with a robust dividend yield. Enquiries Media   Investor Relations FTI Consulting Leonid Fink Viktor Pomichal [phone] Polymetal Eugenia Onuschenko Timofey Kulakov Michael Vasiliev                    [e-mail] [phone] (UK)   [phone] (Russia) Joint Corporate Brokers   Morgan Stanley Andrew Foster Richard Brown Panmure Gordon Charles Lesser James Stearns [phone]       [phone] RBC Europe Limited Marcus Jackson Jamil Miah [phone] FORWARD-LOOKING STATEMENTS   THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, "FORWARD-LOOKING STATEMENTS".  THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS "TARGETS", "BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY", "ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS OR, IN EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS.  THESE FORWARD-LOOKING STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS.  BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.  SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS ARE BASED.     Â

ISIN:	JE00B6T5S470
Category Code:	MSCM
TIDM:	POLY
Sequence No.:	8827
EQS News ID:	816351

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End of Announcement	EQS News Service