Michael Stiskin, Analyst of Troika Dialog IC:

2011 2010 2009 2008 2007 2006

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— ARMZ maintains all assets in Kazakhstan through Uranium One, therefore it is logical that this company will be presented as a full-fledged member of the joint venture.

According to IFRS, in 2009 Atomredmetzoloto increased its net income 23-fold.

Michael Stiskin, Analyst of Troika Dialog IC:

This is a logical solution which will simplify the process of product marketing with joint ventures, existing in Kazakhstan. It is also the indication of new level of relationships between Russian and Kazakhstan in the nuclear power sphere. ARMZ maintains all assets in Kazakhstan through Uranium One, therefore it is logical that this company will be presented as a full-fledged member of the joint venture.

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Michael Stiskin, Analyst of Troika Dialog IC:

— ARMZ maintains all assets in Kazakhstan through Uranium One, therefore it is logical that this company will be presented as a full-fledged member of the joint venture.