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We'll know better when the results are out in a few weeks time.
2227 so they have increase production, Are they making any profit ?
They made the repayment to Gazprombank They only made that after selling us a helicopter.
IRC said the facility "removed the "financing uncertainty" weighing on its share price. Only because the facility extended the time they had to repay it, because they were in breach of the previous lenders terms and conditions.
Petropavlovsk said the USD10.3 million repayment was part of a facility agreed between Gazprombank and Hong-Kong based miner IRC, in December 2018, which Petropavlovsk has FULLY GUARANTEED !!!!!!.
The company said the facility is secured by the assets of its K&S asset in far east Russia, and guaranteed by Petropavlovsk. So I still say that that does not paint a rosy picture of IRC. If you disagree, please tell me why ????
On bright side, POG will be able to increase its stake in IRC at very cheap price. It’s my view since long that POG increases its stake IRC above 50 or 60%.
rustybucket,
Petropavlovsk Investee IRC Makes Scheduled Loan Payment To Gazprombank
(Alliance News) - Petropavlovsk PLC said Tuesday its 31%-owned investee IRC Ltd reported its third quarter trading results on Tuesday, with the Russian-focused gold miner keen to point out IRC's loan repayment to Russian private bank Gazprombank.
Petropavlovsk said the USD10.3 million repayment was part of a facility agreed between Gazprombank and Hong-Kong based miner IRC, in December 2018, which Petropavlovsk has fully guaranteed.
IRC said the facility "removed the "financing uncertainty" weighing on its share price.
IRC completed the drawdown of the Gazprombank facility in the first half of 2019 and the loan proceeds were applied in accordance with the intended use of proceeds, IRC said in a statement. The company said the facility is secured by the assets of its K&S asset in far east Russia, and guaranteed by Petropavlovsk.
IRC also reported a 11% increase in iron ore concentrate production in the first nine months of 2019 to 1.9 million tonnes and a 9.7% rise in sales to 1.8 million tonnes.
PVX233 IRC in best shape ever, the share price would suggest thats not the case. They need to make a real profit including paying their loans. They have not been doing that which is why the debt was re-negotiated over a long er period of time.
Yanks, have they waken up to Virus
Maybe you are right IRC do well. The point is even if they dont it is not that significant.
Why would IRC have to close down. It's in the best shape ever....
This share has done well over the last five years, rising 400% and could rise another 400% within a year if gold stays on course.
Dilution will happen, another 1B shares less $125M debt. Worst case IRC is shut for two years and we have to make $20m a year payment. If that does happen gold will be way past $2000.
I wish I had the capital
Well I've got nearly 2 million in this company as it stands.... So put that in your pipe....!"
thanks for the welcome.
CofE are you suggesting to me not to say things on this board, by questioning my motives?
Don’t mis-understand, perhaps the gold run now is not really the right thing for this share as it masks too many of the company’s net positives. Also, a virus is not a great thing.
This company is currently on a PE of 4 to 5 if you look at 2020 earnings based on gold at $1,681. There are lots of companies with a third of POG's 2020 earnings at similar MC's.
Gold should be at $2000 anyway forget the virus, just based on crazy money printing.
Forgot to say welcome.
LSE saying current day 5.596,776 million sells and 12.325,667 million buys. Thats positive.
Waiting for the US markets to open and pick this trend up. Gold likely to jump again when they open, as people ditch traditional stocks and rush to safe havens.
The negatives of IRC and dilution are a concern but something is telling me to push pass the negative thoughts from this. Especially if profits spike for POG.
Also won’t they be writing up the asset value based on current gold price.
4 posts on this site and £652,550.00 invested in POG. Why speak now? Not knocking you we all start this group somewhere just interested.
I’ve only got 400k shares but more than happy with that. Agree to much going the way of POG to stop the train anytime soon.
A vaccine would hit gold prices but that’s really far away sadly. Tomorrow a new load of people will have caught this virus and death rate will soon hit 3000+ people. All this will spike gold further. Regardless it’s all ready started a worldwide recession so spike for gold again. $2,000 pushed passed quickly.
FTSE 250 ever closer and more likely as traditional companies get squashed from little trading activity. China car sales down 96%, fancy a cruise? A holiday in Italy? Sad state of things and this getting out of control now.
Can you imagine what happens when it hits a group that refuses vaccinations.
And for the sake of transparency I own 3.1M shares
I think people need to do all their calcs fully dilute. Even so this is going up multiples over the next few years. It is a classic turnaround. I encourage all prospective shareholders to do the calc's, they are impressive.
Forget the past. I realise you are a long-time owner I have read many of your comments over the years.
" it has more going for it now with the benefits of the pox hub, than it had before, when it was just outside the FTSE100 "
Absolutely correct imo.
typo I meant $1550 not £1550. That should be enough to make tons of money buying this share
updownflat , as long as its balanced, because the majority of posters just post the positives, and fail to provide the possible negatives, including IRC, and 2 bond debts including one which has a very nice coupon to the recipients along with a convertable option, which if taken will provide additional shares and dilution.
That aside I say it has more going for it now with the benefits of the pox hub, than it had before, when it was just outside the FTSE 100.
I suppose it all depends on your time frame. I also went through the rights issue.
But, this is our time now. This share should recover to £1 over a couple of years, even if, gold is just stable around £1550.
Perhaps we could aid that process by posting some useful information here for potential newcomers, without pumping. It is quite a complex stock to understand.
You are correct in that 2227, but, some people have invested in this share when it was well above £10. One poster said he needed POG to get to 60p just to get level. So all this talk of over 400% etc etc can be quite distressing to these people.
It is al well and good advising how well this share has performed recently. But dont forget the past.
The management have a track record of overstating the truth, including information that it had nearly concluded the debt refinancing followed by a deeply discounted rights issue, which left a lot of shareholders out of pocket.
Now, some people traded and some people had cash to be able to take advantage of this, but in some cases, eople were unable to do that. That has left a sour taste with some people. In my opinion, in the past, they have been conservative with the truth. Lets hope they will not make the same mistakes as in the past, and they will be able to get to a market capitalisation which can take them toanother level. Fingers crossed. But, this is POG. Expect the unexpected.
It's actually up 400% over the last five years.
This share has been rising for the last five years and is up 300% over that period. This is among the good performing shares over the last 5 years.