After trading here for years via global depositary receipts, Russia's biggest gold producer by output, Polyus Gold International, finally attained its much-coveted premium listing in London this June - just in time for the release of a stellar set of first-half financial results.
IC TIP:
Hold
at
193p
With an average realised price of gold up 15 per cent year on year to $1649 an ounce (oz), and gold production rising 18 per cent to 721,000oz, Polyus's cash profit margin soared 8 percentage points to 51 per cent in the first half. The group's dozen or so gold mines are churning out vast of much of cash, so much so that Polyus made cash profits of $634m in the first half alone.