The strategy approved by OJSC Polyus Gold Board of Directors provides a plan for OJSC Polyus Gold to boost its gold production, to increase its reserves, its net income and its market cap in 2006-2015, which will elevate OJSC Polyus Gold to the Top 5 of the global gold producers.
The key 2015 targets include:
JORC proven and probable reserves - at least 68 million oz;
Annual gold production - at least 3.9 million oz;
EBITDA - US$710…900 million;
Net cash flow - US$600…710 mln;
Net debt - no more than US$100 mln.
To reach these targets, the strategy envisages total capex of US$3.4 billion for 2006-2015. This covers investments both to boost production and to acquire new assets and licenses in Russia and internationally, WHERE suitable opportunities arise.