- ISIN JE00B6T5S470
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Polymetal International plc
Solidcore Resources plc: Rebranding and new development strategy
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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
12/06/2024 Dissemination of a Financial Press Release, transmitted by EQS News. |
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