Solidcore Resources plc: Rebranding and new development strategy
June 12 2024 - 3:26AM
EQS Non-Regulatory
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EQS Newswire / 12/06/2024 / 11:26 MSK
Polymetal International plc has changed its name to
Solidcore Resources plc (the “Company”. The decision to rename the
company was proposed by the Board of Directors and approved by
shareholders at the Annual General Meeting held on 11 June 2024,
following the sale of the JSC “Polymetal”, which retains its former
name. The company will
trade under the new ticker symbol ‘CORE’ on the Astana
International Exchange (AIX), effective from June 17,
2024.
The name “Solidcore” is formed by the combination
of two words: “solid” (meaning “reliable”, “durable”) and “core”
(meaning “basis”, “foundation”, “essence”, as well as
“core sample” – rock sample extracted during exploration
drilling).
“The new name of the Company reflects our core
corporate values - reliability, trust, safety, development, and
leadership as the fundamental principles in our
work”, said Vitaly Nesis, Group Chief Executive
Officer.
The asset portfolio of Solidcore Resources plc
remains unchanged - Kyzyl (Abay region, Kazakhstan) and Varvara hub
(Kostanay region, Kazakhstan). The Company’s largest development
project is Ertis POX (Pavlodar region, Kazakhstan) which together
with the stay-in-business investment projects require more than US$
1 billion of CAPEX over the next five years. Production is expected
to increase from 475 Koz of GE in 2024 to 510 Koz of GE by
2029.
The further development strategy of Solidcore
Resources plc entails business expansion through its own geological
exploration and active acquisition of new projects at the
exploration/development
stage.
“Solidcore Resources plc will actively invest in
the expansion of production utilising its industrial expertise
developed over two decades and maintaining its high sustainability
standards, and best practices of corporate
governance”, concluded Vitaly
Nesis.
More information about the new name and development
strategy can be found in the presentation at the link
https://www.polymetalinternational.com/upload/ib/1/24-06-11/2024_06_11_CMD_strategy.pdf.
OTHER
INFORMATION
The new Company’s website homepage is
https://solidcore-resources.com/.
Financial and production results:
https://solidcore-resources.com/en/investors-and-media/reports-and-results/result-centre/
Other corporate disclosures:
https://solidcore-resources.com/en/investors-and-media/corporate-disclosures/
New registered address: 010000, Astana, Esil
district, 10, Dinmukhamed Qonayev, office
1306
Enquiries
| Investor
Relations |
Media |
Evgeny
Monakhov
+44 20
7887 1475 (UK)
Kirill
Kuznetsov
Alikhan
Bissengali
+7 7172
47 66
55
(Kazakhstan)
ir@polymetalinternational.com |
Yerkin
Uderbay
+7 7172 47 66
55 (Kazakhstan)
media@polymetal.kz |
12/06/2024 Dissemination of a Financial Press Release,
transmitted by EQS News.
The issuer is solely responsible for the content of this
announcement.
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