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Rusty always a pleasure,
ok lets say the S&P is right and Gold drops to £1700 next year and £1400 the year after. And POG pays out $200m dividend before the $500m bond becomes due. POG will still be able to knock $200m of the bond and refinance only $300M at 4pct ?? Annual interest goes down to 30pct of what it was and the company is cash rich even if the Gold price is $1400 and stays there. The days of not paying a dividend are over.
Freddie2 How do you know that the production was not already down, You have been here long enough to know that Pavel did exactly the same when he came in then , when the production went up it was his doing, The production could easily have been hampered by not having enough third party concentrate to buy and process, until I have seen the results I am not concerned, because there should be some very good profit there. We have already converted a fair amount of the convertible bonds, Anybody got a good idea how many, ?? so less interest to pay and that in itself should help the bottom line, not yet, but going forward. Main hurdle, In my opinion is not UGC, They do not own the company,and can not make all the decisions, Its how we refinance the large bond issue
But not cheap enough..... Yet
Rusty , Doom -Monger is probably correct at the moment , not one good thing has happened since this rabble took over , there are possibly things we dont know yet , why such a downgrade on this years production , are the employees working to rule or on strike even who knows , what will the auditors uncover ? The Sp was on its way past 40p and now struggling on 29p now where are those rose ti ted spectacles ?
I don't think there is any chance of the COFE otherwise they wouldnt have got rid of them.
It seems to me that at the moment you are the preacher of POG, Whilst Freddie 2 is the doom-monger. We should be getting an upside soon, and this should be the start of ongoing profits, which should have a positive effect on the share price.
Yes it is very cheap now looks like a bargain. Hopefully Gold will move higher as long as the trump and Pepsi Pelosi can agree more money printing
Dear Freddie2,
We do have a level of bright light in this storey. Yes we have been diluted, but this was inevitable in time. Plus by converting early we do not have to pay the interest on the convertible loans which in turn increases profit.
Once the company has free cash flow they can either invest by TEMI 25% without shares, give a dividend that I would invest straight back in to the trilogy, buyback shares thus concentrating the shares. Gold is high and although production is not 100% what we thought could happen it is hardly a bad period for the company.
Smart move for UGC would be to capitulate and bring back the board, work out a way of working together. Or truly find some new board members who can run this company and gain the respect of the workers.
Yes keep diluting the SP everyday , whilst giving out bad news ! Only one way this going to go they going to shut all the london offices and take it off the LSE and become totally russian company , will it get taken private who knows but whats for sure we all going to lose
The number of shares in issue has increased by around 20% since the price reached 41.6 before the ruckus started. This is something to consider when looking at the share price today.
69.6% converted.
When this gets to 80%, I believe the company gains additional rights for the balance of the last 20%. From what I understand they could potentially re-purchase the last 20% for principal plus interest. I think these bondholders that are converting are doing so because either they fear this or they need the cash and are selling the shares. Just a theory…
UDF - I get what you are saying but the BOD's ears are unfortunately probably deaf.
I like CofE's comment too ' it’s an investment gone wrong for UGC' which I hadn't thought of quite like that but the BOD must be thinking along those lines by now.
For its warts, the old BOD need not have lifted a finger to see the SP double.
I'm thinking of viewing UGC in the same light as people who come on here with comments trying to depress the SP - they don't need to because the BOD have already done it! (It puzzles me why there are so very few people posting on this BB which can be counted almost on one hand - but I will say that each of you are a well mannered - some BB's are a very uncivilised virtual brawl)
I am watching this carefully but only with a view to adding at some point.
See what happens running up to Christmas.
Personally, I hope POG are done with boardroom battles. The share price has risen because of the rising price of Gold in spite of management behaving like they have unlimited shareholder goodwill. POG need a period of building transparency and focusing on increasing real mining of gold. No more dilution, better reporting, more floatation, stronger mining plans and a fair wind from the price of gold.
This is so cheap now. What ever happens at the board will not stop this in the long term. It’s nearly 2021 and you can only imagine that the old board will be back to contest the mess that currently is.
Believe they will adding at these reduced prices and if they can convert anything believe they may well do this also.
Currently it’s an investment gone wrong for UGC, especially if your staff are on a go slow or do not even recognise you.
If the vote had gone the other way then this would be 60-70p now 80p.
Looking to add again.