Polymetal inks sales deal, alliance with Blackham Resources
By Iain Gilbert
Date: Tuesday 31 Mar 2020
(Sharecast News) - Precious metals firm Polymetal said it had signed a gold concentrate sales deal and strategic alliance agreement with Australian miner Blackham Resources.
Polymetal will purchase refractory sulphide gold concentrates from Blackham's Wiluna expansion project, located roughly 750 kilometres northeast of Perth, Western Australia.
The FTSE 100-listed group also agreed to take the greater of 70% of refractory sulphide gold concentrate during the project's first three years of operation, or 122,500 tonnes of concentrate - containing at least 195,000 ounces of gold.
Upon expiration of the initial three-year period of Wiluna's expansion project, Polymetal will obtain exclusive offtake rights for as much as 100% of Blackham's concentrate production.
As of 0850 BST, Polymetal shares were up 3.71% at 1,427.50p.
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