Encouraged by the recently published resource estimate for the Nezhdaninskoye gold deposit, in Yakutia, Russia, LSE-listed Polymetal has decided to increase its shareholding in the joint venture (JV) project to 24.7%, with an option to acquire the remaining stake.
A new shareholder agreement has been negotiated, under which Polymetal will acquire an additional 7% share from its partner, Ivan Kulakov, for $8-million, which increases its interest to 24.7%.
