StockMarketWire.com - Polymetal International posted a rise in second-quarter production, driven by a strong performance at its Kyzyl mine in Kazakhstan.

Output for the three months through June rose 19% to 384m ounces of gold equivalent, as Kyzyl delivered at full capacity with 81k ounces of gold produced in the quarter.

Gold equivalent production from continuing operations was up 29% year-on-year.

Revenue rose 13% to $492m, with gold sales rising 31% on strong production.

Silver sales fell 22%, due to a temporary logistical lag between production and sales to be eliminated in the second half.

Polymetal said it was well positioned to meet its full-year 2019 production guidance of 1.55m ounces of gold equivalent and reiterated its cost guidance.



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