OREANDA-NEWS. Revenues of JSC “Polymetal” from gold sales increased from $100,5 million in 2005 to $153,8 million in 2006, demonstrating a 53% growth resulting from both higher gold prices and increased total production.

According to the investor relations department of JSC “Polymetal”, average realized gold price in 2006 was $603.3 per ounce - up 40,5% from the previous year’s realized price of $429,4 and almost in line with the 2006 average London fixing price of $603,5. Total gold production grew by 5,3% to 256 thousand ounces:

The most significant production growth was achieved at Voro due to ramp up of the CIP processing plant; it was partially offset by decreased production at Lunnoye and Khakanja due to lower grade ore.