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Petropavlovsk's gold production rises in Q3

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Petropavlovsk's gold production rises in Q3

Petropavlovsk Plc produced 104,000 ounces of gold in the third quarter, compared to 102,400 ounces in the year-ago quarter.

The slight increase in output at the Pioneer and Albyn mines in Russia was partially offset by lower production at the Pokrovskiy mine, also in Russia, according to the Oct. 17 release.

In the nine months, the company produced 336,400 ounces of gold, compared to 298,100 ounces in the same prior-year period.

Petropavlovsk also reiterated its full-year production guidance of 420,000 ounces to 460,000 ounces.

The company noted that first production from its POX Hub is expected to start in the fourth quarter of 2018 with construction progressing on schedule and within budget.