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cey is growing production at 5% or so. Pog is growing production at 45%.
If it wasn't for the boardroom stuff we would probably be over 50p by now.
If gold was back at 1300 cey's share price would be back at £1. But pog would be more or less where it is today imo.
It depends on which gold miner. I invested in Centamin [CEY] a few months back and it has paid a full year dividend and is about to pay an increased interim divi, on top of that the price has kept going up since the pandemic started after falling to below a pound. Also HOC fell below a pound during the pandemic before recovering extremely well to be currently over 3 pounds as I write. It's about timing I think.
COE,
gold miners are a speculative bet on the price of gold. A lot of people buy them because they want exposure to gold price movements. Hedging is totally the wrong thing to do. If POG were hedged it would just be a very low return, highly indebted, badly managed, politcally unstable business in Russia.
If shareholders want a good well managed stable business they should look at P&G or visa or similar but not gold miners.
Hadn’t seen the RNS showing Institutions slightly reducing their holdings, when I wrote that. That explains why I was so confused about this weeks’ price weakness. Get it cleared and off we go again. . .ATB
Well, I took yesterday’s further share price weakness, as my cue to add another £3k worth, as I see POG climbing nearer to 50p by year end (assuming no more nasty RNS surprises of course). That said, I’d be lying if I did not admit that I am definitely perplexed as to why it has not done better this week, with gold on the rampage! I just don’t get it; but happy to have added here. ATB
Formed the same opinion (resolution 19 would put pressure on s/p), MikeSE1,.....sold 37.5% of our POG shareholdings yesterday (just under s/p@35.9p level),.....leaving nearly (our Gross Average POG s/p@1.32422p) Free, POG shareholdings here.
BW
Note sure I fully agree Smalltrader. The drop in share price is minimal considering recent gains.
The market makers and other are trying to worry people out there holdings. It seems to be working too. I am reluctant to add but also reluctant to sell. So I suppose it is working on me to some degree. I will hold if it goes 1-6 then the share price will jump if it goes 7-18 then will probably drop initially to panic people out. At 1.2 billion market cap this is so cheap. Plus take into account despite recent dilution they could instigate a buy back and also the debt levels have dropped substantially. Dividends I would reinvest.
Gold going higher much higher. If the market did all of a sudden recover they could hedge the entire year ahead above $1,900. Which is still a huge profit.
All lights are green and production will increase to 1 million soon or higher.
Don’t forget new flotation plant to start Q4 2020. Another valued asset to add to the book.
In the FT article, UGC CEO Sukhov said he has no intention of taking over POG.
With all this chaos, no other IIs will invest into POG and without such investment, SP is not going any higher despite high gold price. By the time POG resumes business back to normal, gold price may come down! POG SP may just linger at these levels. If dividend is announced in the midst of all these chaos then probably other IIs may start looking to invest in POG and can help SP to increase.
Wonder if there would be any news on dividend in the Interim results?
Also on monday, will they announce the date for interim results?
I really hope we get closure on this episode. As others have said it doesn’t matter how you vote on the audit (19) as prosperity UGC and Everest all want it so that is more or less a given bearing in mind their ownership share. Hopefully no one fell for the trapdoor of 18. Whatever happens we should get some transparency from the audit even if short term it would be a pressure on SP.
Replaying the last few months with PM doing an interview on a merger with UGC only for the greater board to quickly dismiss it sounds like the beginning of the issue. Maybe paying shares for the TEMI stake was to get another more friendly shareholder on board. This maybe didn’t fit Strukov plan . He still says he doesn’t want to takeover pog but thinking about the merger. What better way to merge than to stack the opposing board with friendlys. So is the game from UGC to get a cheap merger with a take out of all pog management... quite probably in my opinion. Merging in at current market cap when it could be worth 2 to 3 times over the next year or two is a deal (or steal) of the century. Just me processing some of the recent moves but only speculating here.