Insights

Meet the CEO: Vitaly Nesis, Polymetal CEO

Simon French, Panmure Gordon’s Chief Economist, interviews Vitaly Nesis, CEO of Polymetal, about the company’s recent financial results, the price of silver and gold and the production levels of a new mine.

Video clips of Simon’s interview with Vitaly are below. They touch on various topics about the company’s growth and finances. The entire interview and specific questions and answers from the interview are below.

Q: What are highlights of your recent interim results? (1:11 including introduction)

Q: What key metrics should investors plot for the next half of the year? (1:15)

Q: Can you quantify the seasonality of the business? (1:03)

Q: What net debt to EBITDA levels can investors anticipate and what’s that conditional on? (00:54)

Q: What levels of distributions should investors expect? (1:23)

Q: Can you explain why debt capital markets don’t present a problem for Polymetal? (2:37)

Q: How does the higher gold price impact your asset disposal or acquisition strategy? (1:34)

Q: What progress have you made over the last 12 months in ESG? (3:35)

Q: How can the IP you have for your pressure oxidisation technology be scaled up? (2:35)

Q: What’s your expectation for gold production over the next 3-5 years? (1:24)

Q: What should investors expect in terms of grade profile? (1:45)

Q: What are your views on the gold and silver price going forward? (1:34)

Q: What proportion of production revenues will make up the business once it’s open? (00:31)

Q: What sensitivity analysis do you do to understand the big drivers of the bottom line? (1:31)

Q: For some investors the Russian exposure is a reason not to own shares. How do you think things are evolving in Russia and what does it mean for Polymetal shares? (2:29)

Q: How much further can the share price go and what is par value? (3:37)

Simon French

Economics & Strategy