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Good work lawrence , it will be interesting to see the outcome of the report , could they have shot theirselves in the foot and end up with multi million dollar fines against the company itself
Sorry John's reply didn't all paste
2. Yes, there were very heavy rains and flash flooding in Amur region last week. As you can see in the video on social media, a small river that runs past the Pioneer mine did overflow its banks on Thursday/Friday but was back to normal level on Saturday. The open pit into which water is seen flowing was depleted in 2016 and is not currently being mined. As we stated in response to local media inquiries over the weekend, there was no effect on our mining operations, people or equipment.
3. We have not received a TR-1 shareholding disclosure from the shareholder in question. As such, we can not speculate on the media reports. If and when we do receive such a disclosure, we will publish it immediately.
4. I have seen the press reports to which you are referring but I can’t confirm who sent letters to the authorities as I have not seen them.
I can assure you that CEO Denis Alexandrov and the new management team he has assembled, myself included, is exclusively focused on building shareholder value. As we have stated in numerous meetings with investors over the past few weeks (you can view the presentations on our website), we’re currently undertaking a thorough review of the business to find ways cuts costs, boost production, and improve shareholders returns, including through dividends. We hope to present more details on how we do that with a capital market day presentation of a new mid-term corporate growth strategy Sept/Oct of this year.
Best regards,
John
John Mann
Hello
As a long time POG shareholder I'm beginning to become very concerned with issues arising at this company in the last year. I will list my points of contention below.
1) The sale of IRC: We know that in March of 2020 via and RNS it was announed that POG's 29.9% share holding in IRC would be sold to a mystery company called Stocken. At the time it was thought that this may be the best course of action but 14 months have seen a massive change in fortunes for IRC and to sell due to an apparently non biding agreement to Stocken for $10 million at best is reckless and at worst highly suspicious. Avalon claims they made a bid 4x higher than Stockens which was rejected https://www.miningweekly.com/article/petropavlovsk-sold-stake-for-75-less-than-rival-proposal-2021-06-18/rep_id:3650
Why was this offer turned down?
2) A recent youtube video of heavy rains and flooding at/in the Amur region causing damage to POG's mining operation
https://www.youtube.com/watch?v=BT3PYfeSOlM
Is this true? If so why has there been no public response , how bad is it?
3) Today's news that Bonham Capital have sold their shares to Strukhov on Friday last. Is this true
https://www.rbc.ru/business/22/06/2021/60d0678f9a79474d949f5845
if so it now takes Strukov to a 26% shareholding capacity.
4) Is it true that the three signatories to level charges against the ex CEO Pavel A. Maslovskiy for supposed embezzlement were Strukhov's appointment Kharin. The chair of gazprom Akimov and Bonham Capital? What is going on here as it means that Pavel Maslovskiy has been incarcerated since December 2020 and conveniently silenced .
Could you please help assuage my fears and concerns as I feel there is a plan to drive down the POG share price through wilful mismanagement in a bid to make a takeover proposal with the private investors losing out yet again.
Sincerely
L G6$53
Hi Mr G&**g
Thanks for reaching out and sharing your concerns with us. It’s particularly important to us giving the upcoming AGM, in which we hope you plan to participate and vote.
I’ll address each of your questions as best I can.
1. As we stated in the Bloomberg article you linked to (reprinted in Mining Weekly), the March 2020 agreement became binding once Gazprombank gave consent for the transaction. Granted, the bank gave its consent over a year after the initial agreement was signed and market conditions have changed, but once that consent was granted, the deal became binding for Petropavlovsk. There are still a number of conditions that must be met for the sale to happen, as spelled out in our statements on the transaction, which are available on our website. It is also important to note that Petropavlovsk has not received any written offers for the IRC stake from anyone aside from Stocken. Statements to the contrary are inaccurate.
2. Yes, there were very heavy rains and flash flooding in Amur region last week. As you can see in the video