Reasons to invest in Polymetal

7 reasons to invest in Polymetal

Our prime responsibility is to build long-term value per share

1. Focus on high-grade assets

Return on investment in the precious metals industry is reliant on grades and mining conditions. We achieve better returns and lower risks from our project portfolio by setting appropriate thresholds on head grades and largely focusing on open-pit mines.

Average reserve grade (2P reserves), g/t of GE

Hochschild 5.6
Polymetal 3.5
Agnico Eagle 2.4
Anglogold 1.9
Barrick 1.7
Centamin 1.2
Newmont 1.1
New Gold 1.1
Kinross 0.8
Yamana 0.6

Source: Companies' data for FY2021

2. Leading competence in treatment of refractory ores

Polymetal has been developing refractory ore deposits since 2007. Our pressure oxidation (POX) processing hub in Amursk, which is now undergoing a major expansion, was key to extracting value from Albazino, Mayskoye, and, more recently, Kyzyl, as well as Nezhda in the near future. Moreover, as more and more gold resources globally tend to be refractory, our technological expertise in environmentally friendly refractory ore processing will be a key strategic advantage, including being in the market buying third party feedstock.

Production, GE Koz

3. Strong capital discipline

We engender a strong focus on capital discipline throughout the business; maximising risk-adjusted return on capital is our priority in all investment decisions. We do not retain excess cash and return free cash flow to shareholders through substantial dividend payments while maintaining a safe leverage level.

1.13x

1.13x net debt/ebitda as at 31.12.2021

DY paid: 5-year average, %

Centamin 6.3
FTSE 100 4.3
Polymetal 4.1
FTSE 250 3.1
Fresnillo 1.9
Endeavour 1.7
Gold Fields 1.6
Newmont 1.6
B2Gold 1.6
Centerra 1.4
Newcrest 1.4
Hochschild 1.3
FTSE GM 1.3
Kinross 1.2
Agnico Eagle 1.1
Barrick 1.0
Yamana 0.9
Anglogold 0.8
Pan American 0.7
Petropavlovsk 0.0

Source: Company, Thomson Reuters and Bloomberg data

4. Exemplary governance

We believe that good corporate governance is key to the ongoing success of the business and value creation for our stakeholders. We are compliant with all regulatory requirements and best international practices being recognised as a corporate governance leader.

5. Sustainability leadership

Maintaining high standards of ESG is one of our strategic pillars. We ensure this though impact assessment and responsible capital allocation, which means investing in green and more efficient technologies, delivering tangible socioeconomic value to communities and creating safe and inclusive workplaces.


See our efforts to date
6. Investing in exploration

Investment in both greenfield and near-mine exploration provides us with a cost-effective increase in our reserve base and, along with successful acquisitions, is the key source of our long-term growth.

30 Moz GE

Ore Reserves as at 01.01.2022
(+2.8 Moz / +7% y-o-y)

3.5 g/t

GE grade — one of the highest grade in the sector

2021 reserve per share, y-o-y change, %

Centamin 16
Hochschild 11
Kinross 9
Polymetal 7
Agnico Eagle 6
New Gold 3
Barrick 1
Anglogold 0
Yamana -1
Newmont -2
7. Operational excellence

We pride ourselves on our operational excellence and delivering on our promises to shareholders. Despite difficult trading conditions, we beat our production guidance for the eighth consecutive year.

+82.3% from 2012 to 2021

Guidance Actual %
2012 750 920 +23
2013 960 1145 +19
2014 1075 1303 +21
2015 1085 1263 +16
2016 1125 1256 +12
2017 1270 1410 +11
2018 1415 1532 +8
2019 1435 1586 +10
2020 1500 1637 +9
2021 1600 1677 +5

Notes: Historical gold equivalent guidance recalculated using 80:1 Ag oz/Au oz, 1:5 Cu mt/Au oz and 1:2 Zn mt/Au oz conversion ratios

You are downloading Integrated Annual Report . Please note that some ESG data are available in Sustainability Performance Data 2021 (GRI and SASB) that outlines our key non‑financial performance information for financial year 2021. While the selected annual report is being downloaded, we want to draw your attention to the Sustainability Report. It provides detailed information on ESG indicators.

While the selected files are being downloaded, we want to draw your attention to the reports on the sustainable development of the company. They provide detailed information on ESG indicators.

You can also download historical data on sustainable development.

2019