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Polymetal has a cracker

Gold price strength and higher production sees the Russian miner up earnings and its dividend
Polymetal has a cracker

Polymetal (POLY) has delivered on its pitch as a large-scale, low-cost gold miner in 2019. The Russia-focused company has just built a new mine and the added production-boosted adjusted cash profits by 38 per cent to $1.1bn (£860m). All-in sustaining costs were ahead of guidance, at $866 a gold equivalent ounce, but this was only a 2 per cent year-on-year increase.

IC TIP: Buy at 1,296p

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