The Russian company Polymetal announced the purchase of Shahumyan gold - polymetallic ores in the southern Armenia -- is brought to completion, stated Polymetal. The ore is located in Kapan. The company purchased it from the Canadian Dundee Precious Metals. As it was agreed at the beginning of March , Polymetal paid $ 25 million: $ 10 million in cash and $ 15 million as a new emission share.
In addition, Dundee will receive 2% royalty on net revenue (NSR) from the future production, but no more than $ 25 million. It is expected that the new shares will be accepted for trading in the London Stock Exchange on 29 April. Dundee shares are traded on the Toronto Stock Exchange (TSX: DPM), whereas Polymetal’s shares in London (LSE: POLY) and Moscow stock exchanges , as well as in the United States , through the American Depositary Receipts (ADR).