Polymetal International plc (POLY.L) announced it has purchased a 100% interest in the company holding the licence for the Primorskoye silver-gold property located in the Magadan region of Russia from Decamor Investments Limited. The consideration for the acquisition comprises: initial consideration of $4.5 million payable by issuing 533,301 new company shares; and deferred conditional cash consideration, with the exact amount based on the audited reserve estimate and equal to of US$13,333 per tonne of contained silver equivalent.
Primorskoye is located in the Omsukchan district, 215 km from Polymetal's Omsukchan concentrator and 15 km from the Sea of Okhotsk.
For comments and feedback contact: editorial@rttnews.com
Business News