Polymetal says re-domiciling will not happen until July 31 at earliest

It expects gold production of 1.201 million ounces, up 9% from 1.104 million ounces.

Total costs to complete construction are estimated at $1.9 billion. 

Bullion rose even after Federal Reserve officials pledged the central bank would continue an aggressive fight to cool soaring inflation.

Petropavlovsk went into administration in July after sanctions on Gazprombank, its main lender and the sole buyer of its gold, left it unable to repay loans.

Final tests results indicate a metallurgical recovery of 91% over the life of the open pit gold mine in Nicaragua.

The Sugar Zone underground mine has been in production since 2019 and is one of Ontario’s most recent and highest grade gold mines.

The PEA outlines primarily an underground block cave mining operation supplemented with a small open pit, and is planned to operate for 39 years with a peak mill feed production of 170,000 t/d.

Chief executive Shaun Day said the London-listed company was reviewing the opportunity to “get the best of both worlds.”

US House Speaker's trip adds to tailwinds that helped gold rebound from a 15-month low.