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will show a big profit and imho we will become net cash. I am also hoping for an announcement of further expansion of capacity. The perfect result would be a removal of the re-restriction on Zhevago holding prior to the announcement. Either way I dont think 300p is too outlandish a target at that point.
GLA
I’m kinda hoping that the share doesn’t get the attention and we can have a similar sp near future as I want to add more and get the divi payments. The yield is improving well and it would be good for this to continue
Poltava GOK launched section 9 of the concentrator
07/16/20 18:07
seal
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Poltava GOK has launched a new technological complex for the production of finished products "Section No. 9" of the processing plant. Ferrexpo press service reports.
The total cost of the project was over USD 100 million (over UAH 3 billion, including VAT). This investment has already made it possible to ensure payments to the state budget and budgets of other levels in the amount of about 400 million hryvnias and will further bring to budgets of different levels up to 300 million hryvnias annually. Also, thanks to the implementation of this project, additional jobs have already been created.
As noted in the message, this project for the production of finished products is the only one of its kind among similar enterprises not only in Ukraine, but also in the CIS countries.
Section 9 is a modern complex of the production chain, which includes additional crushing and dressing areas, a new electrical substation, a system for the transfer of prepared raw materials and finished products, as well as additional conveyor lines. Every part of this huge project has been installed and assembled in accordance with the world's best practices and guidelines.
The main equipment manufacturer for Section 9 is Metso Outotec (with production facilities in Sweden and the USA). Many other leading world companies also participated in the project implementation process. Construction took over four years.
As the chairman of the board of the Poltava GOK Victor Lotous noted, Ukrainian contractors from different regions (from 500 to 1000 people in different periods of construction) were involved in the implementation of this project, which provided additional employment in different sectors of the country's economy and additional revenues to the budgets of all levels. "Despite the objective difficulties and instability of the global industry market, the Company was able to implement the project as part of Ferrexpo's investment plan for sustainable development," he added.
This project will make it possible to produce an additional 2 million tons of finished products. This will increase the sales of the enterprise by about 2 billion UAH per year, starting from July 1 this year. The project launch date is July 2020. The implementation of this project will increase the installed capacity of the enterprise to more than 15 million tons of concentrate per year. The effect of the project will already be noticeable in the second half of 2020.
thanks for posting Maksym - surprised that isnt worthy of an RNS.
So capacity already up to 15mtpa - that is fantastic. The analyst view of reducing future cash flow over the next few years can now be challenged via increased capacity. Hopefully this in turn will lead to upgrades in analyst view. The fact we can invest in projects like this and still reduce debt is testament to the incredibly consistent production at FXPO over the last 6 years or so and the mighty positive cashflow being produced.
Still expect us to be net cash at results (or very close) and it will be interesting to see if there is further expansion of capacity announced.
Still feel 300p will be in the offing soon.
GLA
NtD
Still feel we will
brilliant post, Bravo Sir
not sure on the still feel we will bit at the end - lol
Poltava Mining and Processing Plant (PGOK), which is part of the Ferrexpo group, plans to increase the production of pellets to 24 million tons per year, said Victor Lotous, chairman of the board of PGOK during the presentation of a number of investment projects at PGOK and Yeristovsky GOK Ferrexpo.
According to the estimates of Lotous, he will be able to reach new production indicators for PGOK within 5-8 years. According to plans for 2020, the production of pellets will amount to 11.5 million tons.
“At the first stages of conceptual design, it turned out that we can increase (production - ed.) At existing facilities, practically without changing equipment, such as furnaces and a ring cooler. There are companies that produce 6 million tons of pellets per year from a single line on similar sizes of equipment. Therefore, theoretically, this is possible. Just now we need to make a project and implement it, ”said Lotous.
To achieve this goal, the company is modernizing production processes and equipment. In particular, a new complex of medium-fine crushing of the PGOK crushing plant was launched, which consists of two tracts processing 1 thousand tons of ore per hour each. Prior to modernization, the capacity of one tract was 400 tons per hour.
A new technological complex for the production of finished products “Section No. 9” of the processing plant was also launched. This is a complex production chain, which includes additional sections of crushing and processing, a new electrical substation, a transmission system for prepared raw materials and finished products, as well as additional conveyor lines. Including a new mill for grinding ore manufactured by Metso Outotec, which is currently undergoing commissioning and will be launched on August 1. Investments in Section 9 amounted to more than $ 100 million.
Earlier, the company also began construction of a concentrate storage complex with a total value of about $ 40 million. The implementation of this project will allow PGOK to operate equipment for concentrate production without stops during scheduled repairs of pellet production lines.
“We have 4 pellet production lines and periodically one of them stops for scheduled repairs. And when it stops, our section stops. Having a concentrate warehouse, we will not stop the existing equipment, it will work as planned and this complex will give us an increase in pellet production by 800 thousand tons per year, ”Lotous said.
According to the deputy head of the board of PGOK for the production of Vladimir Ivanov, the company is also considering the possibility of producing commodity concentrate. A number of PGOK's customers who produce high-quality metals, for example, in Japan, are interested in buying not only pellets, but also concentrate for use as an agglomerate.
The implementation of these projects, according to Lotous, will have an effect already in 2021. It is expected that in the coming years the increase
agree with all comments here, this company has pushed very hard, and taken risks to up its production which are now starting to pay off. Debt before capex is my preference, but Ferrexpo is an aggressive expander. For me it is time to bag money and get the debt paid, this company nearly went under three years ago because of debt and the lesson seems not to have been learnt. Thankfully high iron ore prices have kept things on track and the gamble paid off. I'd be meaner on the dividend too until things are paid down. The end of year here should be an excellent set of books, but she has a tendency to overpromise.
I think they are paying down debt, I think we will see both investment and debt paid off
Good news about the ceasefire https://www.rferl.org/a/eastern-ukraine-ceasefire-conflict-russia-/30748183.html
One less thing to weigh down the SP.
Gold, Silver, iron ore mining is deffo the place to be. Results next week will reveal all. Fingers crossed for a knock at £3/sh door in the near future...;o))
Yes it’s a strange, current dynamic. Everyone looking for safety, yield in gold and silver? Fxpo seems to be churning it out and countries want to keep going by managing Covid which is working in some areas but not others.
Really strange play, I’m going to swap my Sipp shares for isa, sell sipp and buy more in isa as you can’t get the tax back on sipp but more than possible in isa. Gla
Will you not have to pay tax if you sell your SIPP ?
owls
When you begin to draw an income from your SIPP, it is taxable at standard income tax rates.
I'm referencing the 35% divi tax from Switzerland. Spoke with hl, they offer divi vouchers back which show details of the divi and tax paid for isa shares. When I said can I have the same for sipp they said it's not possible to get it rebursed from this account.
Therefore overtime I'm going to change my shares in isa and sipp so I can claim more back through isa and buy more uk based ones in sipp which don't have the extra tax implications
FRES money moving into FXPO today. We should see a steady rise to results. I am hoping for at least £2.50/sh
half year results on Tuesday of next week I think. I am hoping for a really good update which should hopefully move it past £2.. The major shareholder just needs to clear his name once and for all or sell his stake to someone decent.
Pretty sure it’s on the 5th on Wednesday as per their financial calendar on the website
Would have thought it will match their diary. Seem to constantly get knocked on sp valuation from brokers, divi announcement and increase next week would be good? If we see a change in iron prices has the company done enough to keep the high cash numbers coming?
Sorry General Levy you must be right. It must be Wed. Well, all Iron Ore 65FE is up again today and Wed are the half year. Iron ore has been selling up high this year. I am expecting a good increase in production and future production plus a increase in production as well as much higher profits for 2020H1... any comments welcomed ? PS I can not believe it is so crazy low.
KaZ has produced an excellent report and their Sp has gone down today. will it be the same fate for FXPO?
I listened to a podcast yesterday which highlighted the issues arising in China due to flooding of the Yangtze river. It is not being reported but the implication was that China output will be affected which may affect iron ore consumption.
Ex-People's Deputy Konstantin Zhevago, accused of embezzling the property of the Finance and Credit Bank and wanted by the DBR, has returned to Ukraine.
This was announced on Facebook by People's Deputy "Servants of the People" Geo Leros.
"Oligarch Zhevago has returned to Ukraine and the terms of the 'agreement' to end his prosecution in criminal cases involving large-scale corruption are being finalized," he wrote.
Hi Marsym, surely that has to be good new before the first half results on Wed ? I am hoping this will move well above 2£ soon. Thoughts ?