GOLD RUSH

16th June 2017 By: Martin Creamer - Creamer Media Editor

GOLD RUSH

Less than two years after delisting from the London Stock Exchange, Russian gold producer Polyus has returned. Listed in Moscow with a market capitalisation of $9.9-billion, Polyus is prepared to sell 7% of its equity, which follows China’s Fosun Group having agreed to acquire 15% of the company. CEO Pavel Grachev, above, sees Polyus as having the opportunity to deliver good growth, which he envisages will take it from being the world’s eighth-largest gold producer to the number four spot in 2019. The offering, according to a Financial Times report, provides an opportunity for investors to dip into a low-cost and fast-growing asset that is guiding gold production of 2.8-million ounces in 2019.