PJSC Polyus (MOEX — PLZL) («Polyus», or the «Company»), the largest gold producer in Russia, notes that S&P Global Ratings Services («S&PGR», or the «Agency») has placed its 'BB-' issuer credit ratings on the Company and its controlling shareholder Polyus Gold International Limited («PGIL») on CreditWatch with positive implications.
The Agency highlighted the Company’s strong profitability, positive free operating cash flow generation, falling leverage and the expectation thatPolyus will report supportive operating and financial results for 2017 and beyond. Polyus’ solid market position internationally, long reserves life and low production costs supported the ratings, S&PGR said.
S&PGR’s announcement also stated that Polyus’ continuous track record of low cash operating costs ensured «the company will remain at the bottom of the global gold miners' cost curve».
PJSC Polyus (www.polyus.com) is the largest gold producer in Russia and one ofthe top 10 gold miners globally with the lowest cost position. Based on its 2016 Ore Reserves and Mineral Resources, Polyus ranks second by attributable gold reserves and third by attributable gold resources among the world’s largest gold mining companies.
Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).Enquiries:
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77 email@example.com
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77 firstname.lastname@example.org
Forward looking statement
This announcement may contain «forward-looking statements» concerning Polyus and/or Polyus group. 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 Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’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. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.