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Polymetal revenue jumps on gold and silver price rises

By BFN News | 08:12 AM | Thursday 22 October, 2020


Mining company Polymetal International reported a 35% jump in third-quarter revenue as gold and silver prices rose. Revenue for the period reached $884 million, bringing total revenue for the first three quarters of 2020 to just over $2 billion, up 26% year-on-year. The company also reported record quarterly free cash flow in in the third quarter, and it reduced its net debt by $80 million to $1.6 billion. Polymetal was on track to meet its full-year 2020 production guidance of 1,500Koz. However, the company highlighted COVID-related risks as the key source of uncertainty. At 8:12am: (LON:POLY) Polymetal International PLC share price was -13p at 1753p Story provided by StockMarketWire.com

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