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Polymetal eyes acquisitions after FTSE 100 debut

Monday, December 19, 2011 - 04:18

Dec. 19 - CEO Vitaly Nesis says Polymetal will hit the acquisition trail after shares in the Russian precious metals miner start trading on the FTSE 100 index.

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Precious metals producer -- Matthau has today officially joined the -- 100 along with still might ever -- that the first Russian companies and sent. The prestigious index -- what is the animation means -- -- medals future prospects and growth. I'm joined from the London Stock Exchange front won -- -- Sierra -- -- I've -- and -- many thanks for talking with us what -- the immediate advantages for your company. I think the more significant advantage is truly be -- the committee. Be better -- this year financial investors we believe that the membership. In the prestigious Foote -- 100 -- Will give us. Potential. Axis too far smaller war future acquisitions or larger -- -- growth projects and and what I won't come on to those so what what prowl the -- -- less less aggressive outside interference and Madeleine being listed in London rather than Moscow. It's necessary to contributed a mess death threats from outside interference or meddling has that size that also one of the causes of being in London as oppose the mosque at. While that that clearly is one of the considerations. We're still the bottom and they -- -- you see the potential opportunities. A third deals and -- twelve and beyond that. We are remain solely focused on the former Soviet Union. Most importantly on rushing -- extent. We believe this region he is where we have. Credible competitive advantage and we don't. For now have I -- you plan Stew Lou could beyond the former Soviet Union. 2012 will be an important year for us we have some acquisition -- years. And we hope that will be evil to clinch a couple of deals in the coming year and this will stay focused on -- -- -- right. That's right we definitely will remain focused on precious metals. I'm -- seat the companies spreading. Beyond current production hubs in Russia because at some. While I think for now these countries remain the focus of -- attention. About who also looking at some other former Soviet republics such as Ukraine and -- media. I'm the financial crisis in Europe clearly dominant theme now clearly going to be a dominant -- next year what what does it mean for business like you was as they are that are there opportunities is one us threats and that. Well. I think we. Have known the yes it's which we believe kind of -- -- naturally. To all portfolio -- quite some time. And I think. It's the persistence and the consistency in pursuing this acquisition targets. That makes the difference and the short term market swings I think a significant less important. But there are opportunities. To their opportunities. I'm on crisis artificial -- prices -- your outlook for gold which of which of course what what about. This is indeed -- the new US stories is being nom doled less of a safe haven story now what what is your alma. Well I think that gold clearly retains -- seek haven status. Right now with the problems in the eurozone dollar has stepped forward. As the CP an asset of choice. -- making this status will rule next year. As people will become -- more and more we're off economic problems in the United States. And also -- -- rule insurgency in that country will increase it head of the presidential election season. So you think they won't -- back -- go to safe haven next here. The law I think gold will definitely retain its status to see -- -- and -- only week with the prices up. What's target for the -- except. The forecast yet. I'd say 181000 dollars for Ross at least okay and -- quickly what about Silva. Silver I personally I think that's over will trade in line with the gold -- 5212 goal that will translate to forty bucks for -- of silver. OK very good to have Italian -- this many thanks for talking with us that the CEO of -- -- out from the London Stock Exchange. That's it for now I'm -- trouble this is Reuters.

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Polymetal eyes acquisitions after FTSE 100 debut

Monday, December 19, 2011 - 04:18