Public Joint Stock Company Polyus reported operating results for the fourth quarter and full fiscal year ended 31 December 2017. For the quarter, the company's total gold output decreased 10% to 580 koz mainly due to a seasonal slowdown in production at Alluvials. Volumes of ore processed increased 7% to 7,809 kt driven by the start of hot commissioning at the Natalka mill and the completion of maintenance works at Blagodatnoye and Verninskoye. Estimated gold sales amounted to $734 million with the estimated weighted-average gold selling price of $1,273 per oz.

For the year, the company's total gold output increased 10% to 2,160 koz. Volumes of ore mined rose 27% to 37,810 kt. Volumes of ore processed increased 8% to 28,663 kt, with higher volumes of ore treated at the Company's core assets as a result of the ongoing execution of expansion projects.

The company provided operating guidance for the full year of fiscal 2018. For the year, the expects total gold production in 2018 to be in the range of 2.375-2.425 million ounces vs. 2.35-2.40 million ounces previously.

The company provided earnings guidance for the fourth quarter and full year of 2017. For the year 2017, the company's estimated net debt stood at $3,077 million compared to $3,241 million as of the end of 2016. CapEx expected in between $800 million and $850 million. And again, it will towards the upper end of this range, and it will come in at $850 million, and that will be including $150 million of capitalized operating cost related to that outcome. That also includes capitalized interest cost related to this asset. The company currently expecting record EBITDA figures in it's history. This year's revenue from gold sales stands above $2.6 billion, mainly supported by addition of incremental gold volumes.

For the fourth quarter, the company's sales remained flat compared to the previous quarter at USD 734 million.