Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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TLTL.... Your questions/scenario seem very reasonable to myself that should come from any concerned investor regardless of intelligence.
Whilst some may offer only what they see as the company once known they cannot see what the company could become in probability.
Personally and at current I see POG as a risky investment until the full facts with reasoning are known, unfortunately UGC are not disclosing any information surrounding their vote and stance which only adds fuel to speculation, in turn weakening the SP.
I emailed Alexey at UGC on 04th July and again more recently without receiving an acknowledgement.
Whilst POG's fundamentals and business model has turned a corner after the poor performance over the last decade it seems others have been waiting around that corner as a welcoming committee.
UGC may not have bad intentions but have a history of 'taking control' as they put it, however they do invest heavily back to the community in local infrastructure, education and recreation.
Dear CofE I bought and hold these shares after establishing many of the facts you list - thank you. At face value they are a bargain. Indeed they should be a substantial improvement in the SP from here - 37.5p as a minimum and a £1 plus with proof. The H2 update will hopefully start to confirm the potential and without surprises as there have been in the past. My question (not a negative) is whether UGC are interested because of the opportunity to process their refractory gold through a company they are now close to controlling at a transfer price that substantially benefits UGC. So perhaps POG think they have relatively limited resources but increasing processing capacity and hence the earlier discussion with UGC with its refractory gold resource. Has anyone tried asking UGC about their intentions? - The Gold website has contact details! I simply don't know if UGC is a negative just as I don't know if Pavel and Co is a negative.
Dear Shedulike,
Sadly not.
https://www.fluidlondon.co.uk/venue_closed/acton/rasputin_w3
They are currently pushing for a re-vote due to misleading behaviour from a board member pushed on us by UGC. We just need to vote wisely and hope other are wise too. Every share owned by us is one less they can vote with. Hence my consideration to add a few more.
Refractory not 'refectory', that reminds me in the 1990's I used to visit a wonderfully eccentric family run Russian restaurant in Acton called "Rasputin's". I remember Mrs Rasputin's loved to introduce you to the myriad of vodkas on offer while double checking them herself for quality control purposes. I haven't lived in London since 1999, I wonder if it's still there?
Thank you Shedulike for another golden fact :)
Dear TooLittleTooLate,
Like in have said before, thats my list. Please feel free to trump that. It’s only 12 points. It must be easy for an intelligent person to at least match 12 positive points. Should also not take to long, so will keep my eyes open.
Let me get you started with the first negative 1, UGC. Only 11 to go.
COE,
I am holding mine too, the rewards outweight the risks.
Yes, transfer pricing is a real threat, probably what UCG are after. There is also a danger that Pavel does a deal to keep power and agrees to this. POG currently have un-utilised capacity, but cutting off future growth especially of own material through floatation is not in POG's best interest, but that wont stop him if his own personal position is in play.
How does this external threat weight against the cavalier/idiotic approach of the current team to PI interests, I am not honestly sure? Caught between the devil and the deep blue sea.
That’s why wait and see is the best approach.
Ok let me talk it up for you, as you have requested:
1, Gold price up over $1800
2, POX Hub - Game changer
3, Gold production up massively
4, Production costs down
5, Debt down
6, Ratings improving all the time, now B
7, Possible sale of IRC
8, Gold longforecast to remain high for years to come
9, H1 results will soon be issued and these will show the true picture
10, Processing third part ore
11, Option increase the size of the POX Hub
12, USD to RUB exchange rate
If it was so bad then why would so many people want it including UGC? Answer that.
Fact is why are you here. How long before you start saying well
These new guys make sense?
Makes no sense if you are so negative why buy the shares in the first place being so intelligent. Or do you actually own any at all? If you do why not save your shirt and sell now if you are so worried.
I will be holding all of my shares and maybe adding some more. I will then vote for the previous board at the EGM and not UGC.
TLTL - you have posited a theoretical scenario that really is just speculation. We don't know what will happen with the board make-up until we hear from the court and get through the proposed GM. If you want some facts we have the new flotation facility at Pioneer coming in Q4 allowing us to process more of our own refectory ore at the POX hub.
I'm not interested in anything that isn't constructive. If you want me to vote in favour of the Pavel and Co at the upcoming EGM the you should be confirming that transfer pricing is a threat. Talk the share up all you want the fundamentals are only as good as the facts which are sadly lacking. Care to add to the discussion or just diss intelligent questions?
And what if UGC open a cinema on POG’s back garden and take all the popcorn.
Or should I say scaremongering
More positive followed by rubbish
Being new to POG, alarmed by recent events, disappointed by the fall in the SP I have tried to establish the genuine issues rather than the panic brought on by the fear of a Russian Oligarch putting polonium in my tea. After consideration I think the greatest risk is that UGC take control of the POG BOD and implement a transfer pricing policy for refractory gold that ensures UGC keeps the benefit of an $1800 per oz gold price and POG receives a processing fee sufficient to cover its costs. Any thoughts on this threat anyone?