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"Yes I saw the unsold Gold as well. Since gold is up $150 it was a good move to hang on to it."
UpDownFlat,
I hope that that is the case, but it is also possible that the gold has been given to Gazprombank as payment for an advance to purchase more concentrate for the POX plant.
Looks like lots of positives
Yes I saw the unsold Gold as well. Since gold is up $150 it was a good move to hang on to it.
Wraith,
I thought I had seen a lower figure than the 73% increase you quoted.
"Gold production (Page 6)
? 73% increase in gold produced to 186.2koz (Q1 2019: 107.7koz), of which 115.4koz (62%) came from processing refractory gold at the POX Hub"
So I looked it up and found this:
"Gold sales (Page 81)
? 51% increase in total gold sales to 162.5koz (Q1 2019: 107.7koz), of which 60.9koz (37%) came from processing third-party refractory gold at the POX Hub"
So as of 27th May we appear to have 23.7koz of gold unsold.
At today's gold price of $1729 per oz, that would fetch nearly US$41m.
Agree, POG future does look great, madsuh,.....that's the sort of update, I can live with.
Extract:
Q1 2020 Operational Highlight.
Gold production
? 73% increase in gold produced to 186.2koz (Q1 2019: 107.7koz), of which 115.4koz (62%) came
from processing refractory gold at the POX Hub
Source: https://www.petropavlovsk.net/wp-content/uploads/2020/05/POG-FY-2019-Results-vFinal.pdf
BW
Right there, its a poxy hub day
A disappointing day but to put it into context it is up nearly 200% over the last year.
Looks like a great year to me. Obviously the gold price was much lower last year due to the hedging also. We‘ll get a healthy uplift in revenues just from that. Also, cap ex will be healthier due to the completion of POX hub.
My hunch is that traders are getting out now as they are a little disappointed not to see any fireworks. For us long termers I would say these are great results, also due to the fact that the RNS states that the company is checking on giving some back to shareholders. Trust has increased significantly over 2019. Gold is going in the Right direction. Future Production numbers looking great... for me all the positive signals that this time around next year, we will have a dividend and a 1.5Bn market cap. I will sit tight and wait for more smoke to clear (TEMI/IRC/new auditor/dividend decision etc...)
The future looks great.
My average 7.5p - an easy long :)