In the light of recent developments, and in the interests of preserving shareholder value, the Board and the Special Committee have decided to consider all possible options available for divestment of JSC Polymetal and its subsidiaries.
We are primarily interested in investing in greenfield exploration projects that can help replenishing the Company’s reserves and resources to support our mills’ throughput with preference to potential exploration assets compatible with our processing methods and located in proximity to our operations (location of Polymetal’s processing facilities and information on processing methods are available in other sections of our website)
We are also evaluating opportunities for large-scale exploration projects outside the Company’s host regions. Our priority is potential high-tonnage properties with high-grade ores and good site accessibility.
We are looking for exploration projects for gold, silver, PGM, copper, lead-zinc and complex ores.
Mining license is not a prerequisite to participate in the tender. A large portion of the junior miners we entered the joint ventures with did not hold a mining license at the time of a tender submission.
Though a mining license may expedite Polymetal’s investment decision, it is not a determining factor. We base our decision on the geological reasoning behind the proposed project and its feasibility.
The tendering process starts at the end of the year. The tender details, tender submission deadlines and results will be distributed through the public media and Polymetal’s subsidiaries.
Apart from that, junior miners are welcomed to file a proposal at any time by completing the application form below; however, the timelines for its consideration will be determined on a case-by-case basis.
Tender submissions are invited in the form of slide presentations outlining the following information:
- Geographic location and geological setting of the proposed exploration area
- Location relative to the nearest Polymetal operations (distance, logistics) or hubs
- Project feasibility
- Availability of license
- List of exploration activities performed by the junior miner in the potential exploration area
- List of previous or historical exploration activities in the potential exploration area
- Exploration planning and investment reasoning
- Exploration/mining equipment and personnel available, description of competencies and skills
- Potential property type, estimates of the quantity and average grades (grade-tonnage data)
Polymetal may require additional information and primary geological data from the tenderers.
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