Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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God, I hope Pavel doesnt return. POG needs to move on from Pavel's fifedom and all this nonsense.
L3Trader, we have been been here before with the last boardroom battle, its not belong the realms of possibility for Pavel to get a posse, and try again in 12 months like he did last time.
Kenj, We are already IRC's shareholders via POG. This is another company that needs sorting out. W/ Iron ore prices as they are now. They could be hedging production for the next year or so. With yearly sales of 2.5Mt and given a unit cash cost per tonne of $50/t, even at $110/t, the "operational profit" would be $150M. Subtract all other staff, interest and capex, and they should still be able to repay something like $75M of their debt. I do hope POG does not sell its position in IRC for $10M. I am sure the new board will not go ahead with it.
Today's news, while sad for Pavel (there was no chance he could stay, but he brought it onto himself by not being transparent with the financial affairs), mark a new beginning for POG. UGC might prefer to have a 20+% on a minner valued at $3B listed in London, and giving its shareholder an escape route from Russia, if he needs to, than having it private, in which case, if he leaves the country he gets nothing... That would be what I would do: have an escape route ready, in case things go wrong.
L3Trader,
I had not realised that the gap between 62% FE and 65% FE had closed so much. It used to be far greater. As for the AISC, this is not a term that IRC use in their accounts. They prefer UNIT CASH COST, which will be revealed in the 2020 Q2 Interim Results - expected end of August. Last year the unit cash cost per tonne in the first half of 2019 amounted to US$49.9 per tonne, and they made Loss for the period of US$25.2 million.
With production rising they should reduce the Unit Cash Cost, and a fairly high Iron ore price will also help. The drop in LIBOR means that their interest payments have fallen, yet in the 2020 Q2 Trading Update, IRC predict a "a net profit of no less than US$5 million for 1H2020".
Far better than the ongoing yearly losses, but hardly impressive. I certainly will not be buying any IRC shares.
Kenj, thank you for the clarification. I would be happy with that: iron ore 62% is at $119., so a little above is $120. What are their AISCs?
"IRC is bringing in a lot of cash everyday with iron ore 65% at around $125-$130. at this pace it can repay the gazprombank loan very rapidly. "
I wish that were true L3Trader!
There is a sizeable mark up between the price of 65% Fe and 62% Fe, and if IRC were to sell their ore at the 65% FE price, then they would be in a far better position than they are. However IRC each year sell their 65% ore for little above the 62% price. They say that they need to offer discounts to customers and are reluctant to reveal their selling price as it is commercially sensitive.
Hi all.worth watching on you tube. is a very honest straight talking chap.who goes by the name of maneco 64.he is very informative.gives his views on the gold and silver markets and much more.i trust his views.well worth watching. gla
Nah it was pikies that threatened to shoot me not Gypsies. Heard on radio 4 the other day an earnest whinging typical BBC presenter bemoaning the negative feeling of hatred towards this group of people and posed " where is the Tipping point"? One of the guests immediately retorted .
"At the end of your Cul De Sac about 3am in the morning"
it is interesting to see read that sos_shares is scaring people around here. i am not surprised, b/c people get influenced by words not facts. and the facts are that POG has never been in better shape. IRC is bringing in a lot of cash everyday with iron ore 65% at around $125-$130. at this pace ot can repay the gazprombank loan very rapidly. Gold is taking a breather (led by goldman sachs, who create volatility in markets to make money) before charging higher. so, the question is: can one see the big prize and hold one's nerve and add to one's holdings?
Reduced our POG shareholdings, further yesterday, to Totally Free (5 figure) POG shareholdings, plus crystallized Cash £K's Profits, SOS_SHARES,.....Pivotal point "Fear", is my enemy in the stock market,....Fear of missing out to the upside, we are not greedy, still hold a good sized Free POG shareholdings,.....Fear, causing panic selling, to the down side, don't have that either, already got seed Capital back, plus crystallized £K's Profits, from POG (all held in two ISA's).
Have a good weekend.
BW
It was a bad market day across many sectors.
Without news pog is going to lose the esteem and causing undue uncertainty.
Some of my post removed and i am not surprised.
GLA.
I also think lawrence 13 should get one of the top jobs , not one of us could do any worse lately , by the way do you get gypsies in russia ?
Copper3, need some directors support, we need some bloody new directors. I hear the reason Lawrence13 hasn't posted is he has taken the POG helicopter to be interviewed for the CEO job.
Seemingly KRSS, failed the interview.
A bit depressing to see share price fall slightly again. Need some more investors like 16:35:00 31.722 1,210,000 Buy* 383.84k , if that was a buy. When I try to compare trades listed here on LSE board and then on Barclays stockbroker they never seem to tally- but I thought the source information is the same. ?? Need some directors message of support. Come on Maksim . I think he is the only executive director now.