Petropavlovsk share price goes for gold

The share price of of Petropavlovsk surged by 20% in trading on Thursday as the gold mining company reported substantial increases in gold production and sales.

I am pleased to report we remain firmly on track to deliver on our 2020 guidance for gold production of between 620koz to 720koz, with between 430koz to 460koz produced from our own higher margin assets.

Dr Alya Samokhvalova, CEO

The optimistic full-year outlook was spurred today by the half year trading update that reflected the demand for gold amid economic uncertainty; a 42% increase in gold production was jointed by a 39% increase in total gold sales.

Add to this the fact that the average realised gold price increased from $1,286/oz to $1,640/oz (H1 2019 compared to H1 2020) – then it is clear to see the growth catalysts for the business.

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