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Polymetal International said a new resource update at its Viksha platinum group metals deposit in Russia had confirmed its potential as a large open-pit project.
Resources at the property now stood at 5.7m ounces of palladium equivalent.
'We have confirmed Viksha's potential as a large open-pittable deposit,' cheif executive Vitaly Nesis said.
'The goal is to complete the feasibility study and publish a reserve estimate in the first half 2021.
The share of measured and indicated resources increased from 13% to 65%.
Palladium represented 67%, platinum 12% and gold 10% of the total resource value.