Download 2004 Annual Report - Polymetal

More documents

Recommendations

Info

APPENDIX #2PRODUCTION COSTS BY GOLD INSTITUTE STANDARDS72 Polymetal annual report 2004
Vorontsovskoye (Northern Urals Gold)In thousands USD, except as indicated 2004 2003Direct mining expenses 16 954 12 578Stripping and mine development adjustments − −Third−party smelting, refining and transportation costsBy−product credits silver (407) (345)By−product credits (154) (892)Other 139 17Cash Operating Costs 16 532 11 358Royalties 1 664 937Production taxes 88 89Total Cash Costs 18 283 12 384Depreciation 3 526 3 158Depletion \ amortization − −Reclamation and mine closure 21 17Total Production Costs 21 830 15 559By−product (method 1): Silver as a by−productProduction costs 18 845 13 621By−product credits (561) (1 237)18 283 12 384Reported gold ounces produced 82 742 95 351Reported total cash costs per ounce 221 130Reported noncash costs per ounce 43 33Total production costs per ounce 264 163Note:The calculations take into account that silver is a co−product at the Vorontsovskoye deposit (according to GoldInstitute Standards).Appendix #2: Production costs by Gold Institute Standard73
Page 1 and 2:
Annual report2004St. Petrsburg1
Page 3 and 4:
Annual Report2004St. Petersburg3
Page 5 and 6:
FinancialhighlightIndicator Meas. u
Page 7 and 8:
2004Key eventsFebruarynew managemen
Page 9 and 10:
koye gold mine. This cost increasec
Page 11 and 12:
MineralResourcesVladimir T. Ryabukh
Page 13 and 14:
Igor V. Venatovsky,First Deputy CEO
Page 15 and 16:
Sergey A. Cherkashin,CFOSalesFinanc
Page 17 and 18:
Denis G. Pavlov,Head of TreasuryDep
Page 19 and 20:
At the Dukat and Lunnoye depos−it
Page 21 and 22: ProductionfacilitiesoverviewProduct
Page 23 and 24: Victor R. Wulfert,Managing Director
Page 25 and 26: Victor R. Wulfert,Managing Director
Page 27 and 28: Andrey V. Novikov,Managing Director
Page 29 and 30: Sergey G. Antipin,Managing Director
Page 31 and 32: Vorontsovskoye(Northern Urals Gold,
Page 33 and 34: Alexander V. Bulavin,Head of Licens
Page 35 and 36: Dukat depositconducting a feasibili
Page 37 and 38: GlobalpositioningIn 2004, world sil
Page 39 and 40: CorporategovernancePolymetal follow
Page 41 and 42: Hazardous facilities at the deposit
Page 43 and 44: Personnel at mining facilitiesCompa
Page 45 and 46: Upgrading skillsIn 2004, the compan
Page 47 and 48: ManagementVitaly NESISCEOMr. Nesis
Page 49 and 50: ZAOPricewaterhouseCoopers AuditSred
Page 51 and 52: JSC “ISPA “POLYMETAL”STATEMEN
Page 53 and 54: JSC “ISPA “POLYMETAL”CONSOLID
Page 55 and 56: The Group’s 100% interest in avar
Page 57 and 58: Deferred developmentexpendituresIn
Page 59 and 60: NOTE 3Variable Interest EntityStart
Page 61 and 62: Investments mainly represent or−d
Page 63 and 64: Loans from NIKoil Bank in total ofU
Page 65 and 66: Future payments under capital lease
Page 67 and 68: Note 24Income TaxThe income tax exp
Page 69 and 70: In accordance with FAS 141, thecont
Page 71: NOTE 30Subsequent eventsBank loan r
Page 75 and 76: Dukat and Lunnoye (Magadan Silver,
Page 77 and 78: 1) Per ounce of gold produced or so
show all

Download 2004 Annual Report - Polymetal

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?