Polymetal International Chief buys 100,000 shares

19th Apr 2013 08:12

The Chief Executive Officer of Polymetal International has purchased 713,750 pounds-worth of shares, just two days after the FTSE 100 mining group reported that the Mayskoye mine in Russia had produced its first dry gold concentrate. Vitaly Nesis celebrated the news with the purchase of 100,000 shares, which he bought at 713.75p a time. His stake in the company now totals 3.1m shares. Mayskoye, which is one of the top five deposits in Russia in terms of gold resources, has been operational since early 2010. The company is now focused on the ramp-up of the processing plant, which is expected to take around six months. Revenues grew 40% in 2012, from $1,326m to $1,854m, driven mainly by a 33% increase in gold equivalent sold. The company said that in addition to "robust" production growth, metal sales exceeded output for both gold and silver due to destockpiling of concentrate inventories at the Dukat project.Top Director BuysVesuvius (VSVS) Director name: Mr Christer GardellAmount purchased: 250,000 @ 330.00p Value: £825,000Polymetal International (POLY) Director name: Mr Vitaly NesisAmount purchased: 100,000 @ 713.75p Value: £713,750BAE Systems (BA.) Director name: Ms Paula R. ReynoldsAmount purchased: 16,000 @ 380.91p Value: £60,946BAE Systems (BA.) Director name: Ms Paula R. ReynoldsAmount purchased: 4,000 @ 381.67p Value: £15,267Vernalis (VER) Director name: Mr Ian GarlandAmount purchased: 100,000 @ 23.00p Value: £23,000Vernalis (VER) Director name: Mr David MackneyAmount purchased: 50,000 @ 23.00p Value: £11,500Top Director SellsDerwent London (DLN) Director name: Mr Simon P SilverAmount sold: 65,000 @ 2,244.00p Value: £1,458,600Derwent London (DLN) Director name: Mr John David BurnsAmount sold: 31,369 @ 2,244.00p Value: £703,920Derwent London (DLN) Director name: Mr Nigel Q GeorgeAmount sold: 28,554 @ 2,244.00p Value: £640,752Derwent London (DLN) Director name: Mr Paul M. WilliamsAmount sold: 28,329 @ 2,244.00p Value: £635,703Derwent London (DLN) Director name: Mr David SilvermanAmount sold: 19,489 @ 2,244.00p Value: £437,333Derwent London (DLN) Director name: Mr Damian WisniewskiAmount sold: 16,993 @ 2,244.00p Value: £381,323Safestore Holdings (SAFE) Director name: Mr Richard HodsdenAmount sold: 250,000 @ 126.35p Value: £315,875Smiths News (NWS) Director name: Mr Jonathan BuntingAmount sold: 97,965 @ 182.01p Value: £178,306Morgan Advance Materials (MGAM) Director name: Mr Mark RobertshawAmount sold: 54,279 @ 251.22p Value: £136,360GETECH Group (GTC) Director name: Mr Peter StephensAmount sold: 40,000 @ 68.85p Value: £27,540