Polyus plans to hold the additional geological exploration at the Sukhoi Log deposit in the coming 3-4 years, Vice-President for finance and strategy of Polyus, M. Stiskin, said.
We plan to work out the technical and economic assessment with the attraction of the best specialists in Russia and overseas. In 3-4 years we will assess the variants for the active stage of construction, he said.
Geological exploration will be financed by means of loans, Mr. Stiskin said.
The expenditure for this period will not be significant compared with the amount for development, he added.
The JV of Rostekh and Polyus – SL Zoloto – won the auction for Sukhoi Log for 9.4 bln roubles. Polyus planned to purchase 23.9% in SL Zoloto for $141 mln from the affiliate of Rostekh.
In Q4 Polyus made the advance payment of $140 mln for the deposit.