{"id":1047558,"date":"2018-09-27T23:30:45","date_gmt":"2018-09-27T23:30:45","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=1047558"},"modified":"2018-09-27T23:30:45","modified_gmt":"2018-09-27T23:30:45","slug":"petropavlovsk-sees-net-profit-in-2019-thanks-to-key-gold-project-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1047558","title":{"rendered":"Petropavlovsk Sees Net Profit in 2019 Thanks to Key Gold Project"},"content":{"rendered":"

By Nicole Rashotte<\/a><\/span> <\/p>\n

\"gold<\/a><\/div>\n

Russia’s Petropavlovsk (LSE:<\/b>POG<\/b><\/a>) released its H1 results and, despite posting <\/b>a net loss of US$24.8 million thanks to rising costs and lower sales, the company believes<\/a> that it will report a net profit in 2019 thanks to a speciality gold project<\/b>.<\/b><\/p>\n

The project, known as the pressure oxidation hub (POX), allows the treatment of refractory gold ore that is difficult to process using traditional methods since refractory gold contains ultra-fine gold particles that are typically resistant to recovery by standard methods. By using this new treatment, the miner will be able to boost production and cut costs.<\/span><\/p>\n

\u201cThis program is already bearing fruit, with updated 2018 full year guidance announced today for higher gold equivalent production and lower cash costs than previously expected,\u201d stated Pavel Maslovskiy, CEO.<\/span><\/p>\n

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Is it a good time to buy gold stocks?<\/h2>\n

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Learn to profit from gold’s low price this year!<\/h4>\n

Give me my free report! <\/a><\/p>\n<\/div>\n<\/div>\n

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\u201cWe will continue to focus on our operational optimisation and cost reduction to improve our margins. We have arrived at an inflection point following our many years work on the development of the POX Hub, which lies at the heart of our growth strategy,\u201d he added.<\/span><\/p>\n

The company’s<\/span> 2018 production outlook has been lifted from 400,000 ounces to 410, 000 ounces to between 420,000 ounces and 450,000 ounces thanks to the inclusion of \u201chigh-grade sellable floatation concentrate.\u201d<\/span><\/p>\n

\u201cWe should be on schedule and put commercial production in March, which means that we can produce roughly 150,000 ounces out of POX,\u201d Maslovskiy reported.<\/span><\/p>\n

The miner estimates that its gold production should rise to about 500,000 ounces next year. <\/span><\/p>\n

In addition to the reporting of next year’s potential net profits, the company also welcomed back its founder, Peter Hambro,<\/span> as president and senior adviser to the board.<\/span><\/p>\n

Hambro was <\/span>removed<\/span><\/a> from his position last year amid a shareholder row over control of the company.<\/span><\/p>\n

As of <\/span>3:26 <\/span>p.m. EST on Thursday (September 27), <\/span>Petropavlovsk<\/span> was trading at GBX 6.39.<\/span><\/p>\n

Don’t forget to follow us <\/span><\/i>@INN_Resource<\/span><\/i><\/a> for real-time news updates!<\/span><\/i><\/p>\n

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article. <\/b><\/p>\n

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\n\"gold<\/a><\/div>\n
\n

\n<\/a><\/p>\n

Is it a good time to buy gold stocks?<\/h2>\n

<\/p>\n

Learn to profit from gold’s low price this year!<\/h4>\n

Give me my free report! <\/a><\/p>\n<\/div>\n<\/div>\n

<\/p>\n<\/div>\n

<\/div>\n

<\/span><\/p>\n

The post Petropavlovsk Sees Net Profit in 2019 Thanks to Key Gold Project<\/a> appeared first on Investing News Network<\/a>.<\/p>\n

…read more<\/a> <\/p>\n

From:: Investing News Network<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Nicole Rashotte Russia’s Petropavlovsk (LSE:POG) released its H1 results and, despite posting a net loss of US$24.8 million thanks to rising costs and lower sales, the company believes that it will report a net profit in 2019 thanks to a speciality gold project. The project, known as the pressure oxidation hub (POX), allows the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[359],"tags":[],"class_list":["post-1047558","post","type-post","status-publish","format-standard","hentry","category-inn"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1047558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1047558"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1047558\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1047558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1047558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1047558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}