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BRIEF-Petropavlovsk posts 2016 net profit of $31.7 mln
April 26, 2017 / 6:35 AM / 8 months ago

BRIEF-Petropavlovsk posts 2016 net profit of $31.7 mln

April 26 (Reuters) - Russia’s Petropavlovsk says:

* Its 2016 net profit stood at $31.7 million, compared to a 2015 net loss of $297.5 million;

* Underlying EBITDA fell by 16 percent to $200.1 million;

* Revenue rose to $540.7 million from $599.9 million in 2015;

* The group is confident to achieve 2017 production guidance of 460 koz;

* Expects its total average cash costs of production in 2017 will be around $700/oz at current exchange rate;

* Net debt is expected to decrease to around $550 million by the end of 2017, assuming an average gold price of $1,200/oz for the remainder of 2017. Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

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