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"Poly doesn't sell gold to any of the G7 Countries."
But where do the ingots go? The ingots are hallmarked with the source and date. Would you buy an ingot that cold be sold anywhere or one that can only be sold to BRICS countries? So poly will be selling to buyers who will be discerning about the source, and it seems the date, of tose ingots. Of course, that will make poly Russian stamped bullion cheaper which unscrupulous merchants may well try and re-cast and find someway to falsely hallmark. It is like laser etching to try and remove blood diamonds from the market.
you do know that's because they talk about know supply and obviously expected and still do to discover more as technology improves both in detecting and drilling
When I left school in the early 80s they were saying we only had 20 years of U.K. gas left…
HBR and IOG pimping still… also a huge number of un explored prospects.
J-A-B this is the website https://capital.com/gold-miners-trade-at-pre-covid-levels-have-they-bottomed
It thinks Poly will be hit by the G7 Sanctions not buying gold, however they should have done better research as Poly doesn't sell gold to any of the G7 Countries.
Have a good night all
https://seekingalpha.com/article/4520071-polymetal-poyyf-aucoy-suspended-poly-trades-london
A good read whilst having your breakfast in the morning.
DYOR
Ditto Sagacity. I think the 'World Leaders' have dug themselves a hole they don't know how to get out of . Also, call my cynical, (yes, thank you BB :D ) but capital-com published an article couple of days back which said Poly could 'go under because of the strain of sanctions '. Given it's a CFC trading portal, wonder if someone there thinks Poly has bottomed out ;)
Pandamonia - You're probably one step ahead of me. I'm just contemplating Russia (perhaps unwittingly, but without many alternatives) getting itself into a dependent relationship with China. From what I've been reading, China really doesn't care much for Russia - it just wants it's natural resources. And the USA is, as you say, very fortunate to be self-sufficient in most things that matter.
People are missing the point.
If Russia and china become so linked they can't survive without each other. It will be easy to knock both our with a simple attack on the energy supply. Dependancy is weakness not strength. This is why the USA Is so strong it actually doesnt need anyone else
Thanks sagacity for your in depth posting.
Very informative as usual.
Thanks Sagacity.
Interesting comment from 2019 article: "Moscow plans to build a new pipeline to China, which could give Russia the power to sell gas to the highest bidder, pitting Chinese and European consumers against one another." Russia has now made that prospect less achievable by substantially narrowing its customer base - significantly more power to China over prices perhaps?
I suppose the $400B at 2014 natural gas prices is now substantially more due to gas price increases, whereas the originally deal was just $13B per year - that doesn't seem like a great deal when compared with Russian GDP, for instance.
regardless you can expect the deals to keep going in the BRICS/Eurasian environment
https://en.wikipedia.org/wiki/China%E2%80%93Russia_relations
.....
The U.K.’s economic malaise has weakened the pound, making imports more expensive.
Imported oil and natural gas almost always must be paid for in dollars, which it now takes more pounds sterling to buy to cover those costs....wake up smell the daisies!
Thanks Easi. Appreciated
Hi Roxy / EasiWynns. The deal was signed in 2014
https://www.theguardian.com/world/2014/may/21/russia-30-year-400bn-gas-deal-china
Its a very interesting read 'Aled Jones, director of the Global Sustainability Institute at Anglia Ruskin University, warned that the Britain had the equivalent of only three years of North Sea gas left on the basis of current consumption and without the use of imports. "Russia's new pipeline to China will increase competition for natural gas from 2018 and will most likely increase the cost we pay for natural gas here in the EU. It will certainly increase the pressure on European countries to find alternative gas supplies," he said.
The below article was published in January prior to the invasion stating the pipeline opened in 2019.
https://www.voanews.com/a/power-of-siberia-2-pipeline-could-see-europe-china-compete-for-russian-gas-/6402242.html
'As winter bites, Europe is facing a gas shortage. A cold snap has coincided with lower volumes of gas exports from Russia, forcing a big spike in prices. Consumers and businesses across the continent are facing a steep increase in their bills, with governments scrambling to cushion the impact. And analysts warn it could soon get worse.
Moscow plans to build a new pipeline to China, which could give Russia the power to sell gas to the highest bidder, pitting Chinese and European consumers against one another.
From the frozen expanses of Siberia, Russia already is sending some natural gas to China. The "Power of Siberia 1" pipeline opened in 2019, tapping the gas fields in Russia's far east to help fuel the Chinese economy.
Europe remains Russia's largest customer by far, importing about 200 billion cubic meters of gas every year – about 30% of the continent's supply. By comparison, China purchases about 38 billion cubic meters annually.
Then the below link was posted 2 days ago regarding the impact of sanctions
https://www.energymonitor.ai/tech/networks-grids/russia-sanctions-slashes-237bn-off-eastern-europes-oil-and-gas-pipeline
“However, as opportunities in the West have diminished, opportunities in the East have opened. As a result, India and China have taken advantage of the discounted prices. India has been on a Ural oil spending spree and China has agreed to a 30-year deal to import natural gas through the Power of Siberia, with plans to extend capacity with a new pipeline in north-east China.”
It reads like its still referring to the original deal in 2014, however it looks like they are planning to extend capacity to the new pipeline.
Balanced article ....if allowed for now!
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/022822-factbox-key-china-russia-oil-and-gas-deals-joint-projects-and-energy-investments
It could be this, but it's $400B and over 30 years, not a few years:
https://www.hellenicshippingnews.com/china-russia-trade-has-surged-as-countries-grow-closer/
There's also this for $117.5B, but over 25 years according Russia and over 30 years according to China:
https://www.reuters.com/article/olympics-2022-putin-gas-idAFKBN2K90P7
(This maybe PR, and in reality part of the original $400B.)
But then $400B was mentioned just after Russia annexed Crimea 2014:
https://www.reuters.com/article/us-china-russia-gas-idUSBREA4K07K20140521
Probably foolish to trust what either are saying.
Roxy, if the chinese burn gas instead of coal I can live with that but I guess it’s going to be both.
In some respects the sanctioning of gas is an own goal but sometimes principles take precedent. There will be a gas squeeze in Europe this winter so my option would be to massively increase weapons supplies to bring this to an end sooner. 500 m177 and a ****load of HIMARS should do the trick
Has any one have any confirmation or a link to any article which states that China has secured a deal with Russia to buy $300 billion worth of gas over the next few years . If anyone has the link could they please post it . Thanks in advance.
when poly announces its 2nd quarter production results in the third week of July Hopefully we will be able to see the wood from the trees.Its half year results will also be announced in September.That will be the right time to judge whether the company is out of the tunnel and there is light at the end. Before this happens we can talk as much as we like about how well the company is run and how much production is on the cards.
It means very little in terms of getting the SP back on track.
ATB
It pops up in news every now and then, but doesn't make a difference https://www.***************************/polymetal-international-plc-39.2-potential-upside-indicated-by-berenberg-bank/4121070687 it's a reiteration of the 300p share price recommendation.
I personally prefer the stick of dynamite technique.
> This is as good as suspended really, totally untradeable.
Its more like fishing. You bait up and cast, maybe you get a bite, but waiting and watching is part of the activity. You never know when someone is going to dump a truckload up stream, or it could be a slow day. There are still purchases going on , just smaller, meaning it becomes more of a Full Time Job to recast over and over to accumulate. Any shares below 2quid are a bargain, partly the price but also because they are _available_. #happycasting !
Just because it’s hard to trade doesn’t mean it should be suspended.
Some people aren’t trading it. Some are buying for the Longer term.
Once Mr Putin moves out of nu. 6 all our houses will be worth 200k again…….
58 Chats, 59 Trades, Volume: 76,707 all in four and a half hours of trading. This is as good as suspended really, totally untradeable.
It's like an estate of houses, 100,000 houses on this estate, only 20 have sold in the past four months, all for 20,000 or less, prior to this a year earlier the were selling for 200,000 each.
Why the drop you ask, because the estate agent, the only estate agent in lalala land, instructed the vender that a certain Mr Vladimir Putin had moved in at number six and was most unwelcome on the estate. Hence the fall and until he is evicted, you are stuck with the valuation so tough f**k.
Hey roxy
48,173 shares traded now - those pesky MM still shaking the tree as you said :-)
Not seeing much red flags, last I heard their debt was serviced through unsanctioned banks? Poly has enough cash in the bank to contnue to service that debt, and of course, its *businss as usual* still. Of course things could change.
120? not seeing that either, unless nukes come into play, whatever pudgyface throught he was trying to accomplish, he now has a very large up close and personal border with NATO, goals for Ukraine now seem meaningless in this context, other than mass murder/terrorism, stealing grain, tractors, anything not bolted down. Utter fekkwittery, pass the popcorn.
Holding firm for split news…hoping poly come good and we get the good news in July. Hold for top ups guys because this is going to reach 120’s level again imo. No signs of peace just escalation, more sanctions, more bombs and more propaganda. Sad state of affairs. Many will want to sell out now before the drop, many of the excited newbies that got their 10 percents on the oversold bounce have left. Everything is saying sell at present. The longer the war continues the larger the debt. Poly have a huge job on their hands dealing with a split and Ofcourse the debt….we all know what happens when you can’t pay debt…scary times and major red flags here.