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But have you worked on POGS operation and seen exactly what those employees do.
Lawrence13, I have no idea what Strukhov wants, Karim, is just Strukhovs puppet. Strukhov has no where near enough shares to make the decisions and I don't think the new CEO WOULD COME IN IF HE FEARED the company was not moving forwards.
As for Pavel, Pavel has been accused before albeit again by people who had an axe to grind, but, the prophet stations seemed reasonable at the time in relation to Pavel wanting to be paid for arranging a bond issue at a higher rate than new bod said they could get. As for the sale of the property, often accountants don't take full responsibility for their reports thats why there is often disclaimers.
In my opinion, you should have an open mind, as if he has tried to sell his assets to the company at grossly inflated prices he deserves to be taken to task. If he is proved innocent, then thats fine.
I agree with you that he is innocent till proven guilty, and I think he should be on bail, rather than being incarcerated, unless there is a very good reason to suggest he would abscond.
Rusty,
yes I am qualified, I am an accountant with an MBA and have worked on many refinancing’s, acquisitions etc...
UDF, tell me, are you qualified to say that and by that I mean to say they have 1000 excess staff. I would suggest you are not. You have so much confidence in Denis, surely he will not let you down.
Rusty
think Kahrin and struckov have a loose game plan.
1) I think they want a low SP so they can surreptitiously gather more shares through other parties
2)They want Pavel 'banged up' and out the way leading up to the agm whose date hasn't been announced yet
3) My belief is the Kharim and struckov are playing a long game and now have their feet under the table and would like to extend that into 2022 but with the AGM due in the next five months many things could go wrong for them and Pavel being out and free could open up a whole new range of resolutions that could depose some of the Stuckov board choices. So Struckov have gotten Pavel out of the way for as long as they can. Okay you might say we still have the forensic investigation. Now if this was concluded and nothing untoward was found then that puts the spotlight well and truly on stuckov and Kharin as it was Kharin who put the finger on pavel. So when is the forensic report due to be concluded if my theory is right Strucov and Kharin won't want a clean slate known before the AGM as it would fuel many new BOD resolutions going into the AGM. I note there is no info anywhere appertaining as to the date the forensic investigation will be concluded. So I emailed Patrick Pittaway asking that question, his answer below
"Dear Lawrence,
Thank you for your email.
No time frame has been announced and the forensic investigation is ongoing and we will update shareholders as soon as we can.
Most likely updates on progress-to-date will be given around the time of our annual report and AGM.
I hope that helps, I am sorry I can’t be more precise at this stage.
Kind regards,
Patrick"
I'm now awaiting an answer as to when the AGM might be.
But my conclusions are there's a long way to go in this story
Shedulike,
It is not that difficult to compare. there are some staff that are absolutely key to the success of the company and the are roughly 1000 others that would just lighten the companies extremely high-cost base.
I don't really know if we have too many staff, tricky to compare like for like with peers, but we certainly need to look after them to progress the business. I'm feeling more positive about the present set up but it will still be a while before the apparent good intentions are proven. With IRC looking up as well I think there's much to be encouraged by but only time will tell. GLA
Shedulike,
this is the impression I got from a Telgram channel. They were complaining until about mid January and then it all stopped. I think it is healthy to have a happy and motivated staff, but in POG's case there are way too many staff.
UpDF I thought it was interesting that two out of seven 'Immediate Management Priorities' related to unhappy employees. We've heard whispers about this so maybe it was having a real impact on production levels. Companies will always make a nod to the welfare of their staff but to put that up front and centre I think is a good sign looking to the future.
Udf i was just making a light hearted comment
Freddie, you are like some evil creature revelling legal disputes. Hard to run court cases from jail !
Quite Freddie, it does amaze me some of the stuff that is alleged on these boards without disclaimers. When you press 'Post' you become a publisher, at least that what LSE would argue as all these platforms want to claim they're a mere conduit of opinion. Personally I believe they will have to accept eventually that they are the publisher and we are contributors similar to a newspaper, then they'll have to take responsibility for what gets written. Some of the bashing of certain AIM stocks in particular goes scandalously unchecked.
It hasn’t got much info but It does show a few things.
They are in control. They are working on a detailed plan. Own Gold production will be higher in 2021. We get the details and the end of March.
Sched noticed from the presentation that there are plenty of lawyers on the pog board , i wonder why ha ha look out
Rusty I believe they delayed the commissioning of the new flotation plant at Pioneer from Q4 2020 because of problems with delivery of key equipment. From the way it was put when announced I got the impression that Q1 2021 was possible but it wasn't a good idea to start up in the teeth of winter hence Q2. Either that or Pavel sold the parts to Polymetal on the quiet :) :) (**joking all lawyers**)
Interestingly ratings agency treat pre payment of gold as debt, They also take into account guarantee made to IRC. No wonder Pavel was so keen to "give away" IRC to try and remove the debt, False economy in my opinion. That will please Retired Banker, and Kenj, who hopefully is still around. Positive is we have paid off another $50m of the pre pay..
Exactly as I said Lawrence13 "negative, is, I believe we should have had an RNS advising us." Shocking PR, UDF advised they were all on training. Maybe training to put out a RNS about what I believe is a MUCH, MUCH, MORE POSITIVE update than the last one we got.
It also highlights the need to process OUR OWN CONCENTRATE, Rather than third party which makes you wonder why Pioneer was put back.
I don't think the presentation is a presentation that Strukhov will like as it goes against 2 of the things he has campaigned for. Dividends and third party concentrate
I agree Rusty as Fitch suggest we're not ready for an 'aggressive dividend policy' yet, need to keep at that debt. Pioneer flotation on course Q2 maybe once the upside of that with our POX production starts coming through it could be a consideration but certainly a while off IMO.
Rustybucket siad
"But I think once people and analysts have a read of this, there WILL be an increase in share price. Time will tell."
They would have to know it was there first. If smalltrader hadn't had found it who would have known it was there.
Bloody hell Small Trader how the F did you manage to find that ? They buried it within the convoluted pages of their website. I mean why did you look under investors and then presentations when nothing had been announced. Terrible communications from POG
WELL SPOTTED SMALL TRADER, Well worth a read,
Interesting comments that negatives from ratings agencies, are Dividend payments, and not addressing bond maturity 1 year before due, which both of them I agree with. Personally I think it is VERY VERY positive, negative, is, I believe we should have had an RNS advising us.
But I think once people and analysts have a read of this, there WILL be an increase in share price. Time will tell.
on POG website -
https://petropavlovskplc.com/wp-content/uploads/2021/02/POG-Investor-Presentation-Mar-2021-FINAL.pdf