Polyus Gold Int Ltd PGIL Natalka financing update

  Polyus Gold Int Ltd (PGIL) - Natalka financing update

RNS Number : 7729I
Polyus Gold International Ltd
30 July 2012
 



                     For immediate release                  
                                                                           
                                   30 July 2012

                      Polyus Gold International Limited

 

                          Natalka financing update  

 

Polyus Gold  International Limited  (LSE -  PGIL, OTC  (US) -  PLZLY,  "PGIL", 
"Polyus Gold"  or  the  "Company"),  the  largest  gold  producer  in  Russia, 
announces that it has entered  into a  finance agreement  with VTB Bank for  a 
total amount of up to 5 billion rubles (approximately USD 150 million).

 

The facility will be utilised in the  form of letters of credit issued by  VTB 
Bank on  the  Company's  request. Additionally,  the  agreement  provides  for 
deferred repayment of letters of credit, should that be requested by PGIL.

 

The facility will be used to support the purchase of equipment for the Natalka
project where the  Company is  on track to  start commissioning  a 10  million 
tonnes of ore per year processing plant in December 2013.

 

Notes to editors

 

With proven and probable  reserves exceeding 31.6 million  ounces of gold  and 
measured, indicated and  inferred resources  of 59.7 million  ounces of  gold, 
Natalka is one  of the  largest undeveloped gold  deposits in  the world.  The 
deposit is located in the Magadan region  in the Far East of Russia, some  400 
km north-west of the regional capital, Magadan.

 

 

Enquires:

 

Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37 ir@polyusgold.com

 

Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 lavrinenkosn@polyusgold.com

 

 

 

Forward looking statements

 

This announcement may  contain "forward-looking  statements" concerning  PGIL. 
Generally,  the  words  "will",  "may",  "should",  "could",  "would",  "can", 
"continue", "opportunity",  "believes", "expects",  "intends",  "anticipates", 
"estimates" or similar  expressions identify  forward-looking statements.  The 
forward-looking statements involve  risks and uncertainties  that could  cause 
actual  results   to   differ  materially   from   those  expressed   in   the 
forward-looking  statements.  Forward-looking  statements  include  statements 
relating to future capital expenditures and business and management strategies
and the expansion  and growth of  PGIL's operations. Many  of these risks  and 
uncertainties relate to factors that are  beyond PGIL's ability to control  or 
estimate precisely and therefore undue reliance  should not be placed on  such 
statements which speak only as at the date of this announcement. PGIL  assumes 
no  obligation  in  respect  of,  and   does  not  intend  to  update,   these 
forward-looking statements, except as required pursuant to applicable law.

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
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MSCSDUSISFESEDW -0- Jul/30/2012 06:00 GMT