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Somewhat galling that we're embroiled in this mess while gold is doing its thing. This probably shouldn't become a sister board for EUA but I'm amazed that the LSE are happy with the seemingly indefinite suspension over there. Don't want to trawl through the AIM rules but I'm certain there's a principle that the shares should be traded unless there's a blimmin good reason why not (might not be quite worded like that).
Surely it comes down to whether you think putin wants foreign investment into Russia or not?
at the outset of the Crimean drama he gave amnesty to Russians bring back monies to Russia and i have to reckon that any Russian keeping cash outside Russia must be bonkers esp now our government having failed at governing the UK has decided to punish foreigners for 'investing' in the UK.
The question is will Putin want to see investors in POG (& poss EUA) victimised.. I don't think so.. POG investors robbed by Russian Oligarchs is not a headline he would like to see... Worse still POG Investors robbed by Putin?
However a headline POG Investors clean up in Russia... and of course a simliar headline for EUA even though our government might want it hushed up.
And on EUA I found their reason for the suspension as lame as that of Cummings driving to a beauty spot to test his eye sight? I had a sneaky at the outset it was to prevent an undesirable purchaser.
John Meyer of SP Angel was cautiously optimistic about EUA but did not mention a price!
If it all falls through the EUA BB will implode.... that alone will be amusing
I agree with RetiredBanker about the 5p gamble on POG (and IRC): I still hold 225K which is a large value holding for me.
A key point is that the POX hub has been is and will doubtless continue to be a huge success.
However I feel in need of a Dummy's guide to boardroom politics in Russia. Are the battles largely centred on (control of) the Pox hub? From a PI perspective what are the pros and cons of the two factions?
Well RB I've seen enough cosy institutional placements in my time to respect the fact that PH seems to have had PI's interests at heart with the RI. Yes it was tortuous inching away from the RI price but nobody's complaining now. I have mentioned the 'Russian Discount' on the POG SP in the past and copped a little hostility and while it's absolutely zero comfort to have been proved right I guess we'll all be more vigilant in exercising our voting rights in the future. As for EUA, contrary to their LSE bulletin board I'm not confident at all, hope to be surprised.
Shedulike - you have to remember that it wasn't really an investment at 5p that the pre RI shareholders were being offerred. What you had to be prepared to do was pay out 78p for every 12p that you had invested ... in other words commit to putting in 6x as much money as you had left after the disasterous mismanagement during 2010 - 2014. I did - but it was a huge gamble and in Dec '18 we were still at 5. something p and it didn't look like the gamble was paying off. Which is why I've been trading in and out of POG and reducing my position as the price rose last year. EUA was a punt I took in late Nov - Sold 100k POG @ 10p ; Bought 300k EUA @ 3.5p - after I had seen some comments on one of these mining BBs ... even though it had jumped from 0.5p to 3.5p it seemed to be just getting into production and so might re-rate. It did indeed double to 7.2p before being suspended and now I'm waiting to see if the Ruskies are going to honour licencing agreements or confiscate the assets
RBamker I don't think there's a question mark over PH fighting for PI's rights in 2015. I clearly remember him saying that the RI would give PI's the chance to maintain a "meaningful" investment in POG and at 5p who would disagree with that now? Yes his mismanagement of GP risk took us down to those levels but at least there was a glimmer of integrity in how the fund raise was handled. Are you genuinely in EUA by the way - doesn't seem the type of thing for a cautious investor?
Such a flurry of comments on this BB of late its hard to keep up, but I think one or two posters definitely need to reconsider their investments if they are hoping for more "ethical" behaviour
CofE " Let’s be honest it would be so wrong for some ultra rich person to turn up and take it away from so many others including us."
UDF : "Pressure needs to be brought on the convertible bondholders to surrender/convert these unethical, unfairly issued convertible bonds."
Behind the scenes sheenanighans have been going on at POG for many years and will undoubtedly continue. On the surface it would seem the latest set of votes show the PM / PH partnership disintegrating - and yet Peter is still in the picture, Pavel is still COO and Alya has been elevated to CEO - we could be back in 2014.
I genuinely think PH did fight to keep us small PI's with some stake back in 2015 when the bondholders could have taken everything (UDF you need to take some POG history lessons before talking about nunfairly issued bonds) and Pavel managed to get back in charge of production when various 'ultra rich' people tried to wrestle control ... but I've no idea what his agenda is
In June last year he re-negotiated the CB's at a time when he must have known the POX Hub was viable and when the sp meant these would convert .... so why not just let time pass and right now we would be sitting on $100m less debt an enlarged capital base and much less baggage
I'd still love to know who holds the CB's ... it's pretty clear Polygon have a chunk , but the rest are as opaque as the Cypriot Registered vehicles that seem to decide most things at POG.
Atleast I have personally less to lose (or gain) with these Russian smoke & mirrors activities than I now do on EUA