Edition:
United Kingdom

Polymetal Announces First Strategic Partnership With Junior For Early-Stage Exploration In Russia


Monday, 1 Apr 2019 

April 1 (Reuters) - Polymetal International PLC ::ANNOUNCE ITS FIRST STRATEGIC PARTNERSHIP WITH A JUNIOR FOR EARLY-STAGE EXPLORATION IN TAIMYR PENINSULA, RUSSIA.POLYMETAL WILL HOLD 70% IN TAIMYR JV BY WAY OF INITIAL CASH INVESTMENT OF $1.9 MILLION TOWARDS AGREED FIELD PROGRAM.CO WILL HAVE OPTION TO INCREASE ITS STAKE IN PROJECT TO 100% FOLLOWING COMPLETION OF AN INITIAL JORC-COMPLIANT MINERAL RESOURCE ESTIMATE.WILL CONTINUE TO EVALUATE OTHER INVESTMENT OPPORTUNITIES AND PARTNERSHIPS WITH JUNIOR EXPLORERS IN RUSSIA. 

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