The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sell was probably in anticipation of sp ex-div payment date. POLY appears to have an unattractive habit of plummeting rather alarmingly after a rapid rise to higher levels...therefore wiping out your gains in a flash.
I have been buying from 1750 in drips until it finally runs out of steam and expecting another rocket rise to £22.
Rinse and repeat with this one...behaving like an AIM stock, but at least in a good way...I hope:)
I haven't seen any RNS in relation to the disposal. It doesn't really have anything to do with Poly does it? Its one of its shareholders independently selling a stake in the company to other investors. Is Poly involved?
Many thanks for the information, reassuring.
It is bit strange though. RNS of disposal was issued last week. Sale took place on 11th Sept. But SP is dropping only since yesterday.
I have bought some at 1795.
Possibly rushed in a bit quick, as looks like it will drift a bit lower. maybe 11am will see the false bottom?
Anapa69 There was also news posted yesterday:
Polymetal International PLC on Thursday said a reserve estimate has reaffirmed that the Prognoz deposit in Russia is "one of the best silver development projects globally".
The initial JORC-compliant open-pit ore reserve estimate for the Prognoz deposit comprises 7.9 million tonnes of ore with an average silver grade of 560 grams per tonne containing 142 million ounces of silver, the Russian miner said.
I liquidated more holdings to buy even more POLY at this ridiculous price. Only slight concern is that the artical posted by ragnarlothbrok, does say that this is the firth selling exercise this year, which makes me wonder what do they know, but happy to take a chance. Last time (1 or 2 week ago) it hit 2000s very quickly.
Responses to events like this never cease to amaze me. But the reaction from the Russian miners always seems to be a bit exaggerated given the heightened risk profile of the region and its investors. Or am I missing something more sinister?
Hi Anapa69. big shareholder taking some profits. Perfect buying opportunity for me. Im in!
MOSCOW, Sept 18 (Reuters) – Russian gold and silver producer Polymetal's biggest shareholder has raised 342 million pounds ($443 million) from the sale of a 4% stake in the company through an accelerated book building (ABB), a bookrunner said on Friday.
IST Group, owned by businessman Alexander Nesis, sold 19 million shares in Polymetal, it added.
It is the fifth ABB by Polymetal shareholders this year, analysts at Sova Capital said in a note. Despite selling 4%, IST will remain as Polymetal's largest shareholder with a 24% stake. ($1 = 0.7715 pounds)
Why sudden drops of around 10% in last 3-4 days? Gold/Silver has not dropped that much. Also other precious metal companies sp holding well. Not much news other than director selling few.