Polyus pays $128.2 million for 100% of the world's largest gold greenfield project
(Kitco News) - Russia's largest gold producer, PJSC Polyus (LSE: PLZL), announced Wednesday it is buying out the holder of the Sukhoi Log deposit license, SL Gold Limited, for about $128.2 million.
Polyus's interest in Sukhoi Log will increase from 78% to 100%.
Described by the company as being of the world's largest gold greenfield project, Sukhoi Log's gold resources currently stand at 962 mt of ore, grading 2.1 g/t gold for 63 million ounces of contained gold. The estimate is based upon a study by AMC from October 2018.
The company is currently undertaking additional exploration works at the deposit. Sukhoi Log is located in the Bodaybo district of the Irkutsk region.