Polymetal says Q3 gold production up 13 pct vs Q2, narrows FY guidelines |
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Thu, 18 Oct 2007 17:48
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LONDON (Thomson Financial) - JSC Polymetal said its third-quarter gold production rose 13 pct versus its second quarter and added that its overall performance and approaching status of a hedge-free company provide a very bullish outlook for the coming years.The company said compared to the second quarter, gold production grew from 58,000 ounces of gold to 66,000 ounces while silver production decreased by 5 pct to 4.1 mln ounces.Polymetal said based on these results and its fourth quarter production forecast, it has narrowed down its full-year 2007 production guidelines to 240-245,000 ounces of gold and 16-16.5 mln ounces of silver.The group added without taking into account possible acquisitions, it targets to produce 250-270,000 ouncse of gold and 17-18 mln ounces of silver in full-year 2008.TFN.newsdesk@thomson.comnpr/jlcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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