Petropavlovsk PLC Reports Unaudited Production Results for the Year Ended December 31, 2016; Provides Production and Capital Expenditure Guidance for the Year of 2017
Gold production for 2017 is forecast between 420,000-460,000oz per annum, predominantly from open pit operations as underground production is scheduled to commence in second half of 2017. Capital expenditure for the year is expected to be $100 million to $110 million, 60% of which is allocated to the Pressure Oxidation development, including Malomir floatation.