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Noobyinvestor: the POG we have now is totally different to the POG that was founded by Peter Hambro back in 1994. Peter thought then that Russia was willing to be brought into global capitalism and would thrive . However what peter didn't account for was the decades upon decades of parasitic Stalinist/communist corrupt behaviour and the absolute way of life crooks /opportunists that would ensue from that background of terror, corruption and resignation. Russia in its present form is ****ed, they are playing at being western sophisticated societal game changers when all they really are is usurpers and thieves of other peoples intellectual dreams and visions. That's all they know what to do, let others take the risks and stress and the rob them if they are successful . No entrepreneur in their right mind would want anything to do with these people
I think any application to the ANTIMONOPOLY takes a few months before it's replied to. If that's the case and sanctions are off which l believe will happen, POG can show the door to UMMC
>"Just says ummc are looking at acquiring pog, I bet there’s loads who want it. Massive gold producer with a pox hub,
> "I don’t think ummc have the cash if I’m honest"
POG owes UMMC. Gazprom sold the debt on. There is also cross default on the bonds - one default event in one issue triggers default event in another. So, the situation is, POG owes UMMC what it used to owe Gazprom, plus interest.
(Also owes the coupon on the notes to another Russian firm 'Nordic').
That would, I suggest, put UMMC in a fairly strong bargaining position (POG assets are I imagine collateral in a wider default, never read the paperwork on the bonds ... but a London PLC being taken to court in Russia probably wouldn't do too well right now). The flip side is others may want POG and be in a position to buy - if POG has to sell, it would be a question of how much is left for shareholders after creditors and bondholders... The other alternative is, war over, sanctions over, POG can sell and repay (not sure what the details on the bonds/legal situation is at al) and normal service is resumed.
Correction early 00s!
Exactly my thoughts to Nathan. The company has been around since the 90s! It’s not some ****e start up that goes after a year or two. It’s almost a lifetime of company built from the ground up and they won’t want to lose their investment support. A lot of unnecessary derampers today. The risks remain the same and have done for a while. It’s the results next week as well as the road map. I’m waiting for those to be able to make my judgement. Not some idiot on here spouting their nonsense.
Surely it’s just a strategic move to keep this company in play, taking it private massively reduces their ability to raise capital in the future
In my opinion it looks like ummc have took over Gasprom loan as an intermediary
We can pay them they can pay Gasprom.
If they want to buy pog they will have to pay the true value of the assets I’d say minimum 1 billions
I’m also wondering if there could be a merger on the cards ?
That will be criminal
I think that the Antimonoply division will also look at the series of transactions. I.e. were the loans assigned by GPB to UMMC to simply enable the latter to get hold of the assets on the cheap. If that was indeed the intention, there is no way UMMC will be able to lay its hands on the gold
The fact that gpb have issued waivers so pog can sell gold to third parties is a massive bonus, otherwise we would be up the creek etc. just waiting on that news to filter through.
Nathan.
"UMMC-Invest acquired the rights to claim Petropavlovsk on a $201 million loan. On May 16, the company defaulted".
Todays market cap of POG is about £60 million (unless I am mistaken) they have a gold holding I assume, though I don't know it's value. The loan stands at about three times the present market cap. (minus gold, which could very easily be more than market cap).
Do we know what default conditions/penalties are on the loan? Are UMMC duty bound to pay over market price? Would any potential sale to open to others to bid on? (Hopefully yes but unknown).
There are investors reading posts on here with genuine concerns, (and money at stake) - if bullish posts always dominate the narrative, how are we supposed to get a balanced / informed view ?
Just says ummc are looking at acquiring pog, I bet there’s loads who want it. Massive gold producer with a pox hub, I don’t think ummc have the cash if I’m honest
Interfax are bonafide
30 years / 1000 employees
I’ll await my news from the company when it arrives legitimately via rns, recent update from pog suggested they were looking at an export license and potential suitors for our gold.
You’ve done it again - what’s your new news or simply your pov that we all should believe.
It’s all speculation from two bit media outlets, speculation, designed to cause panic. And essentially lower the value of pog. Shareholders won’t vote for any deal unless it’s a good one lol
It’s old news though
Nathan
If my post doesn’t fit your narrative - back it up with some substance not a flippant remark
Another source for my post
https://interfax.com/newsroom/top-stories/79390/
Fact
Looks like you just made that website lol, why bother posting that? What a load of garbage.
Tiger,
But we already know ummc have applied to the russian monopolies authority for consent on acquiring pogs ‘assets’
https://oopstop.com/ummc-plans-to-acquire-gold-mining-company-petropavlovsk/?amp=1
In a takeover, normally this is done AFTER an offer
Smells a bit fishy!
NO Face , thank you for your take on this , a valid opinion , yet i have some background on Russia , and I know they will want this company and will take it legit , even pay a little more for it under the table .. why a safe haven is required asap by the cash lords there ... now
Tiger, my hope is that the BOD will quitly keep the company afloat and intact. If they can somehow keep the creditors at bay untill a ceasefire is reached then we have a chance. Normal stock market rules can't protect shareholders in this case, and in fact its the London govmnt thats put POG in this impossible situation. Im invested and holding, but for sure this is a gamble.
I'd really like to know anything about this Nordic LLC? what's their track record? as far as i can see their loyalty is to Gazprombank and NOT pog, are they planning to give us a fair deal or a fair shafting?... theyre an unknown quantity as if there wasn't enough uncertainty.
So no face how do you think this will all play out ... be nice to see your take o things .. I believe strongly its a buy out and not a sell out .. the russians want a london based company for more control
Tiger, those guys worry me more than anything. They got their billions in the first place by use of force, and aren't about to play nice when theres a goldmine up for grabs.
Im cautiously optimistic that pog might be quietly servicing their debt via roundaboyt means.. The company has a steady supply of income, it just needs to carefully pay the most pressing creditors without attracting the attention of UK legislators (or UK press). If they're passively adhering to sanction dictates however, then we have a stranded asset which could be seized by creditors for auction... presumably at a hefty discount on the current market value.