Rus News Journal

Analysts: Polyus Gold the Net profit of company Polyus Gold International formed on the basis of industrial actives of Open Society " has not surprised

; the Pole Gold under the international standards of the financial reporting (MSFO) in I half-year 2011. Has grown almost twice in comparison with the similar period 2010. 206,8 million dollars the Net profit which is a share owners of the parent company, for 6 months 2011 also has made. Has made 188,8 million dollars - in comparison with 116,4 million dollars year before (growth on 62 %). The gain from realisation of gold Polyus Gold has made 901,75 million dollars (+48,4 %), EBITDA - 398,6 million dollars (+61 %). Profitability on EBITDA has increased to 42,8 % in comparison with 39,8 % in I half-year 2010. The average price of realisation of gold Polyus Gold in I half-year 2011. Has increased by 24 % - to 1433,3 dollars for trojskuju ounce. The precious metal sales volume has grown on 20 % - to 629 thousand ounces, including 63 thousand The ounces put for export by Kazakhstan division Polyus Gold. We will remind, on July, 26th 2011. KazakhGold and the Russian Open Society the Pole Gold have finished association following the results of which KazakhGold has got 89,14 % of a share capital Poles also has been renamed in Polyus Gold International Limited.

OPINION of ANALYSTS

Bank of Moscow
Considering that operational indicators of the company were known in advance, it is difficult to name the Pole reporting unexpected. Growth of extraction and the prices for gold while blocks increase in costs which however also continue to grow high enough rates. It is necessary to notice that in the second half of the year the Pole has every chance considerably to improve operational indicators (both at the expense of seasonal factors, and at the expense of extraction growth on new projects), and also financial results at the expense of a rise in prices for gold to new records.

URALSIB
Polyus Gold International has published it is expected neutral results for the first half of the year 2011 which have coincided with our expectations and a consensus - the forecast regarding EBITDA. The Net profit has appeared much less, than we assumed and participants of the market in view of higher deductions in advantage minoritariev in comparison with the forecast. We expect increase of rates of increase of manufacture and gold sales in II half-year 2011 and we believe that following the results of a year manufacture Polyus Gold will appear at level of our expectations.