The world's fifth largest gold miner, Polyus, said today it is purchasing its shares.
The board approved repurchase of up to 40,802,741 ordinary shares of the Company at 14,200 rubles per share, which the company says is a 32.56% to the shares’ closing price on the Moscow Exchange on July 7, 2023.
Polyus expects gold production for the full year of 2023 to reside within the range of 2.8 — 2.9 million ounces. The company holds the world’s largest gold reserves with 104 million ounces of proven and probable gold reserves underpinning its growth profile.
The company’s principal operations are located in Krasnoyarsk Territory, Irkutsk Region, Magadan Region and the Republic of Sakha (Yakutia) and include 5 operating mines, alluvial operations and several advanced development projects.
