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Polymetal disappoints with half year results

FSU-focused gold miner Polymetal delivered a disappointing set of half year results, with earnings coming in below consensus expectations while capex guidance for the year swelled by 25%.

Polymetal disappoints with half year results Polymetal disappoints with half year results Polymetal disappoints with half year results Polymetal disappoints with half year results Polymetal disappoints with half year results

Polymetal's Kyzyl mine in east Kazakhstan

Adjusted EBITDA for H1 was US$660 million, an increase of 8% year-on-year but 15% below consensus, while an interim dividend of $0.45/sh was slightly behind expectations of $0.52/sh.

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