| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Petropavlovsk quarterly output falls 49%; sticks to annual guidance
StockMarketWire.com
|
Russia-focused miner Petropavlovsk reported a 49% drop in first-quarter production but stuck to its annual output guidance.
Production for the three months through March fell to 95,600 ounces, down from 186,200 ounces year-on-year, though was broadly in line with the fourth quarter of 2020.
Petropavlovsk said the fall was due to lower production from Albyn, where mining had moved to the nearby Elginskoye deposit,
It also was a result of processing lower volumes and grades of third-party concentrates at the POX hub.
The company said it still expected total 2021 gold production of 430,000-to-470,000 ounces.
'In the second half of the year, we anticipate higher output at Pioneer, following the commissioning of its new flotation plant in the second quarter, and a potential increase in third-party material,' chief executive Denis Alexandrov said.
Story provided by StockMarketWire.com
|
|
|
|
|
|
