4Q 2018 Highlights
- Total gold outputdecreased 8% to 637 thousand ounces compared to the previous quarter (3Q 2018: 691 thousand ounces). Year on year, volumes of doré gold and total gold output grew by 5% and 10%, respectively
- Volumes of ore mined amounted to 12,030 thousand tonnes, representing a 5% decline on the previous quarter and a 20% increase year on year
- Volumes of ore processed totalled 9,279 thousand tonnes, down 11% on the previous quarter. Year on year, volumes of ore processed rose by 19% as the Company continues to expand processing capacities at its core assets
- Volumes of antimony contained in flotation concentrate declined by 45% to 3.5 thousand tonnes compared to the previous quarter (3Q 2018: 6.4 thousand tonnes)
- AMC has updated the Sukhoi Log Mineral Resources estimate in accordance with JORC Code 2012. According to AMC, estimated Mineral Resources at Sukhoi Log stand at 962 million tonnes, with an average grade of 2.1 g/t Au and containing 63 million ounces of gold as at 30 October 2018. The estimate is a nine per cent increase compared to the previous estimate. AMC has also upgraded 28 million ounces of Inferred Mineral Resources to Indicated Mineral Resource
- The Company has completed the ramp-up of Natalka to annualised name-plate throughput capacity of 10 million tons. The Natalka Mill is now operating at a design flowsheet following the completion of repair works at the ball mill and scheduled maintenance works
- Estimated gold sales amounted to $764 million, down 7% compared to the previous quarter, with an estimated weighted-average gold selling price (incl. the impact from the SPPP) of $1,232/oz (up 2% on the third quarter of 2018)
- As at 31 December 2018, the estimated net debt stood at $3,086 million, compared to $3,029 million as at the end of the previous quarter and $3,077 million as at the end of 2017
FY 2018 Highlights
- Total gold output increased to 2,436 thousand ounces, compared to 2,160 thousand ounces in 2017, representing a 13% increase. This is higher than the guidance of 2.375-2.425 million ounces
- Doré volumes totalled 2,450 thousand ounces, up 13% compared to the prior year
- Volumes of ore processed rose by 33% year on year, to 38,025 thousand tonnes, driven by the ramp-up of the Natalka Mill, the capacity expansion projects at existing operations and the start of the heap leaching operations at Kuranakh
- Estimated gold sales increased 7% year on year to $2,876 million, with an estimated weighted-average gold selling price (incl. the impact from the SPPP) of $1,265/oz, broadly in line with the prior year
http://polyus.com/upload/iblock/b13/...ding_update_4q18_final-_2_.pdf
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