Well well well Spotted in tescos ehhhh Too late the bargain 16 tins for price of 8 all gone Aaahhh well.. Another slap in the mouth.... Mouth lol lol lol lol
One question. When do we lose the Pioneer licence? I seem to recall some time ago we have to surrender Pioneer in 2019? Also, I agree RB IRC is best detached from us but my trust remains with Hambro and I'm sure he'll play it out to the benefit of shareholders. Don't forget our CEO, Pavel Maslovskiy, has his stepson as number two at IRC too so more so 'sprogs' rather than 'sprog'. Make what you want of that I guess.
The mining sector....
So much out of favour atm that a massive RNS only helps for a tiny rise,a good RNS followed by a drop,whilst a bad RNS ,oh, well it;s a blood bath.....YET, if one is looking for the mid/long term,then, there is a cast of good picking,and IMHO ,POG is certainly one of the best......GLA.
Steel to Iron Ore to Ilmenite
Steel to Iron Ore to Ilmenite read across. ArcelorMittal SA (Africa's largest steelmaker) might follow Evraz Highveld in to business rescue. First though they are appealing to SA's Government for protection from cheap imports. Although not directly heavily exposed to China they seem to be blaming a continuation of China's slowdown on most of their ills. They expect China's GDP growth to fall a further one hundred basis points in the coming year. Lower steel production = less iron ore production = less ilmenite production ??? If Steeltrader reads this .... do you know if any of the big three low cost iron ore producers also mine (or dredge) mineral sands as a by-product?
Its all about IRC not Gold
Sad to see Observingmen is back posting his usual drivel and various others are lowering themselves to his level. I posted a while ago that I thought 7p was more likely than 6p over the coming month and have been proven wrong on that count ... but the more I analyse this latest down turn, the more I believe it has very little to do with Gold mining / the recent lowering of spot gold price (down maybe 8-10%) or the general outlook for POG as a miner ... and everything to do with that pile of excrement which we still have trodden into the sole of our boots called IRC. Anybody noticed that as POG has dropped from 7.5p to 6p since the end of June that IRC has dropped from 50HKD to 32HKD. This pathetic , loss making Iron Ore plaything of Hambro's sprog is the major cause of our current decline. This is a huge financial drag on our 2015 earnings, when we desperately need cash to repay still high levels of debt. At this latest price POG will have to report another $100-200mm writedown in the value of this "investment". If the Board and the Bondholders can somehow find a mug to buy our stake without crystallising a further loss, then I swear the POG share price would jump 50% if not double overnight. All eyes on the half year report on 27th August for details of "cash" position and IRC writedown ... otherwise POG will probably track IRC share price until that waste of space is jettisoned.
Motley Fool Recommendation
Recently the company has shown strong progress in improving efficiency, and it expects its cash production costs will fall from $700 per ounce in 2014 to around $600 per ounce in 2015. Although not a defensive stock, Petropavlovsk’s forward P/E of 5.4 makes it an attractive turnaround stock. http://www.fool.co.uk/investing/2015/07/31/is-now-the-perfect-time-to-buy-randgold-resources-limited-fresnillo-plc-centamin-plc-and-petropavlovsk-plc/
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