Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
All of these have been published within the last few days.
Petropavlovsk predicts a decrease in production in 2021 by 14-22%, capex growth by 19%
(added CEO comments in paragraphs 5-6, analysts' comments in paragraphs 9-10)
Moscow. March 31. INTERFAX - Petropavlovsk (MOEX: POGR) expects production in 2021 at 430-470 thousand ounces of gold, including 370-390 thousand ounces from its own raw materials and 60-80 thousand ounces from purchased concentrate, the company said.
This implies a 14-22% reduction in total production by 2020.
At Pioneer, Petropavlovsk expects, production will increase due to higher grades and the commissioning of a flotation plant (the company maintains a plan to launch it by the end of the second quarter). At Albyn, production will decline due to lower recoveries as a result of a switch to processing ore from the nearby Elga deposit. Malomyr's production in terms of volumes, grades and extraction will generally be at the level of the results of 2020.
At the same time, production from third-party raw materials is expected to fall 2-2.7 times due to a decrease in available concentrate volumes and lower grades in purchased concentrate. Management difficulties in 2020 led the company to miss the contracting period to purchase sufficient concentrate for 2021, adds Petropavlovsk.
“Last year we bought concentrate both in Russia and in Kazakhstan. And in Russia we bought rich concentrate, it was 100 g / t. Because of the changes in the company last year, some suppliers either reduced (volumes - IF) or did not contract with us for this year. Therefore, this year we have a significant drop in the volume of concentrate, its quality, and content. And this, in fact, is the only reason why we give such low guidance - because we do not have enough external concentrate, - Denis Aleksandrov, CEO of Petropavlovsk told Interfax. In the fourth quarter, our POX is reaching full capacity.Throughout the year, in general, our processing at POX is growing - mainly due to our own concentrate. "
“We are now working very actively in order to conclude new contracts, we are even trying to buy Greek concentrate, in general, we are trying exotic things, - added Aleksandrov. - But so far, all this is in the process, so we cannot say how successful we will be this year. But next year, I am sure, we will conclude contracts by September-October, and POX will be fully loaded next year. "
Capex Petropavlovsk in 2021 may increase by 19%, to $ 140 million from about $ 118 million in 2020.
Including capex for development and maintenance is planned at the level of $ 120 million (of which about half will go to the completion of the construction of flotation at Pioneer and the third flotation line at Malomyr), for geological exploration - about $ 20 million.
"Petropavlovsk's production and capex forecast for 2021 is in line with our estimates," VTB Capital analysts conclude. The expansion of flotation at Malomyr, they note, implies some delay (now the launch of the third line is planned in the third quarter of 20
Petropavlovsk may advance in the sale of a stake in IRC
Moscow in 2021 . March 31. INTERFAX - Gold miner Petropavlovsk (MOEX: POGR) continues to work on the sale of a stake in the iron ore company IRC, progress is possible this year, Petropavlovsk CEO Denis Aleksandrov told Interfax.
However, he noted, the main goal of Petropavlovsk is not to sell the stake as such, but to get rid of the guarantee that Petropavlovsk provides to IRC under the obligation to Gazprombank (MOEX: GZPR) (at the end of 2020, the IRC's debt to Gazprombank was $ 202 million).
"The first goal of all these negotiations for us is to get rid of the guarantee. If this requires selling our share, we are ready to sell, and we are actively promoting this project," Aleksandrov explained.
A buyer who cannot provide a cancellation of the warranty, Petropavlovsk is not eligible. "Any buyer who wants to buy IRC must come either with their own guarantee, which will be accepted by Gazprombank, or with their own bank, which GPB will simply refinance," the head of the gold miner explained.
Last spring, Petropavlovsk announced that it had signed a preliminary agreement with the Stocken Board investment company to sell a 29.9% stake in IRC for $ 10 million (Petropavlovsk owns a total of 31.1%). However, there has been no news of the deal since then. Aleksandrov noted that the buyer has not gone anywhere, moreover, new applicants have appeared for the asset.
IRC is the only iron ore producer in the Russian Far East.
Petropavlovsk conducts industrial development of gold deposits in the Amur Region, closes the top three of Russian gold miners. The largest shareholder of Petropavlovsk with a share of about 24% is UGK, which is controlled by the family of Konstantin Strukov.
Financial and Economic Information Service
Petropavlovsk can modernize Albyn or build a new factory for refractory raw materials from Elga
Moscow. March 31. INTERFAX - Petropavlovsk (MOEX: POGR) actually brought the processing of non-refractory ore from the new Elginskoye deposit to full capacity, and for further processing of refractory, unoxidized ore, the company is considering modernizing Albyn or building its own factory on Elga.
"This year, 100% of the Albynskaya plant is loaded from the Elga deposit. Therefore, from the point of view of ore mining and processing, Elga is working, one might say, at full capacity. That is, 3.6 million tons this year we process exactly Elga ore - ore that is suitable for cyanidation. Ore that is not suitable for cyanidation, we stockpile, because it is mined in parallel. unoxidized ore, "Denis Aleksandrov, CEO of Petropavlovsk, told Interfax.
Petropavlovsk may decide on plans for processing refractory ore from Elga by September.
"This year we must release to the market and make a final decision for ourselves what we are doing with this. There are preliminary decisions that are included in the plan, but we will now review them and either confirm or change, in general, somewhere by September it will be clear what we are doing with the unoxidized Elga ore "- said Aleksandrov.
The Elginskoye project is being implemented by the Temi company, in which Petropavlovsk owns 75%, and the remaining 25% belongs to Agestinia (businessman Sergey Stefanovich is considered its beneficiary). Elga's production is 100% taken into account in Petropavlovsk's indicators, and there is no talk of sharing the profits from the project with a partner, Aleksandrov said.
"We show a 100% result on our own, since we have 75%, and 25% as a minority interest. Since there has been no profit so far on Elga, this is the first year of work, so far there are no talks on this matter (about the distribution of profits - IF ) was not. When the profit is formed, then we will communicate, "concluded Aleksandrov.
Petropavlovsk conducts industrial development of gold deposits in the Amur Region, closes the top three of Russian gold miners. The largest shareholder of Petropavlovsk with a share of about 24% is UGK, which is controlled by the family of Konstantin Strukov.
Financial and Economic Information Service
Some updates via Russian sources
Petropavlovsk may return to the discussion of
Moscow's dividend policy in the second half of the year . March 31. INTERFAX - Gold miner Petropavlovsk (MOEX: POGR) may return to discussing dividend policy in the second half of this year.
According to the company, by the third quarter it plans to decide on a new medium-term corporate development strategy, after which a dividend policy will be proposed.
"I think we need to formulate a development strategy for the next 5-7 years, calculate capital expenditures for this development strategy, understand how we finance them, and then understand how much dividends and when we can pay," Denis, CEO Petropavlovsk, explained to Interfax Aleksandrov: “With all this, management understands that dividends have to be paid, so we will need to find the right balance between organic growth and dividend payments. I expect these conversations to begin in the second half of the year.”
Petropavlovsk in 2020 for the first time in a long time started talking about the possibility of paying dividends, at least began to discuss the introduction of a dividend policy. However, this process was interrupted by a corporate conflict.
Petropavlovsk conducts industrial development of gold deposits in the Amur Region, closes the top three of Russian gold miners. The largest shareholder of Petropavlovsk with a share of about 24% is UGK, which is controlled by the family of Konstantin Strukov.
Financial and Economic Information Service
It could be that 3rd party ore contracts would be for a period that went beyond end of Q2 when the new processing plant comes into play and we can process more of our own more profitable ore, we may not have wanted to be tighed into a contract which extends beyond our ability to process more of our own ore.
Good read posted on advfn earlier;
https://finance.yahoo.com/news/petropavlovsk-ceo-emphasizes-growth-over-120944670.html
Can't tell if they are doing a good job or not if they fail to communicate information to interested parties, it's like being a member of a sodding secret society, better start practicing the funny handshake.
Has the company given up on forecasting production for 2021 until year end so that the BOD can match production to actuals to claim a bonus. I fail to understand why we have no production forecast or roadmap on how we are to achieve company aims this year, what targets are the company actually working to, even that would be an insight to where the company is aiming its efforts. With the drift in share price I fail to see how the BOD can claim success unless they drastically reduce the debt, but please, please, pleas just let us know, we are 4 mths into the year next week.
Can anyone explain why we opened at 28.4p today only to fall back instantly, seems strange.
This share is taking the mick, every day we seem to start blue only for it to be systematically pulled back either to near flat or red by end of play, once or twice I can understand but this is happenning way too often.Looks like this is the share price range until someone decides to let it go, who that person or persons are I don't know.
Does anyone have the amount of dilution we have undergone from the heady days or ÂŁ10ish to present day please. Just trying to calc what equivalent would be today with the number of shares now on the market.
Nice year end rise, hopefully sets the scene for the start of the new year, as I've said previously, ii will be rejigging their portfolios for the coming year, hopefully POG is included in their rethinking, good luck to all and here's hoping for a prosperous New Year.
Worrying article in the FT this morning about Ortega passing new laws which will curtail the opposition in the elections, hope this doesn't reignite the problems from previous years which led to riots and deaths in the coming months, last thing we need.
Hopefully this is the start of institutional investers realigning their portfolios for 2021 with POG at the centre of their realignment.
Dudn't mean to give the impression that I think the share price will drop further, just think consolidation doesn't put the brakes on. Think we just need some positive news and stability to kick-start this.
Personally I'm not keen on consolidation having experienced it previously, just means the share has further to fall.
Two late buys after the bell, both 1.5m each at 28.06p and not UT trades, hopefully a blue day tomorrow.
It'll be interesting to see if we get a 'buy in' or a 'sell off' before the end of trading today in anticipation of the interims tomorrow. Currently moving into the 'blue' both here and Moscow.
The news of the interims has turned this blue, currently up 0.5p on ii, hopefully the start of some blue days.