Polyus Gold Int Ltd (PGIL) - Natalka financing update
RNS Number : 7729I
Polyus Gold International Ltd
30 July 2012
For immediate release
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.
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37 email@example.com
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 firstname.lastname@example.org
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
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MSCSDUSISFESEDW -0- Jul/30/2012 06:00 GMT
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