Member Info for big-blue

"MONDAY 24 OCTOBER 2011 8:22 PM
Polymetal to raise £518m in London IPO"

errmmm..... I, err, what?

Pippa, I don't see evidence of iis selling off, seems there was a lot of day trading amongst significant volatility.

I have never invested in a company with Russian connections or assets before because of the trust issue. I took a wild punt on POLY in March due to the prospect that a partial restitution after the sp crash might be enough to qualify a very hugh risk gamble. So with an average of 270ish by April I have now hunkered down waiting for the inevitable split in some form and looking to cash in very soon after at 460ish. The amount I committed is on the basis of a 50/50 chance of losing everything - it is a straightforward gamble. I have never factored in any dividend payment and couldn't care less if there wasn't one. I am only trading on a sp gain.

Good the text was posted, too many duped into filtering me so may have missed some pointers which they should deduce themselves with the text.

A significant variable affecting POLY and businesses in a similar position is the impact of the behaviour of other businesses directly and indirectly connected. For me that is the killer, a business can adapt as long as there are alternative options to turn too. The exodus so far, and it is absolutely unprecedented, has only just begun.

I repeat, Russia was already a dodgy place to business with, ask BP. For many businesses, the war seems to provide a convenient excuse to completely exit. As the network of alternative options shrinks, you are dealing more and more with a N. Korea situation.

Like Huwaia found with their Chinese links, once the toxic tag is hung round your neck, it us impossible to shake it off.

"New interpretation of 'foreign agent'
The new legislation expanded the interpretation of the term "foreign agent." Anyone "under foreign influence" or receiving any kind of support from abroad can now be declared a "foreign agent" in Russia.

This support could involve other forms of organizational, methodological, scientific, technical or other assistance, apart from funds or property, according to the law. It means that individuals can be listed as "foreign agents" even if they have not received money.

The circle of potential targets to be labeled "foreign agents" was also expanded. Blogging can become a basis for inclusion in the register. It is not even necessary to create your own content. The law provides penalties only for "spreading opinions" about decisions made by the authorities."

Back in the USSR! No wonder some of our Russian contributors are so compliant with the script. 'I think that...', is no longer allowed. How can any company like POLY with half its assets in Russia possibly expect to operate effectively in a jurisdiction with these kinds of restrictions imposed? Forever risking half the board, key specialists, senior managers, whole shifts being arrested and halting operations for hours, days, weeks or months because the 'wrong' opinion ended up in a RNS or production statement or in-house magazine or on the invite to the Christmas do! No company could expect to operate efficiently in such an environment.

https://meduza.io/en/feature/2022/08/06/into-military-targets

For consideration. Should POLY bail from Russia now or risk being dragged down with the country in the future?

https://www.hellenicshippingnews.com/russia-faces-economic-oblivion-despite-claims-of-short-term-resilience-economists-say/

Clicked on the link.

"The connection to en.kremlin.ru is not secure
You are seeing this warning because this site does not support HTTPS. Learn more"

Says it all really. POLY dump Russia now!

", let's try and have a full week of ignoring the troll completely- "

Organised bullying of contributors to a public chat! No engagement in the debate, no alternative references or links, no alternative suggestions. Just bury your head in the sand and fool everybody to follow you down the same dead end. This bb has actually become a carbon copy of the crapy ADVFN now. LSE made an error not permanently banning those abusing the chat and abusing the reporting tool as they seek to control the narrative. A very sad decline in standards. Just another gob sh.ite chat.

JAB, a poor attempt to try and deflect people from reading a rather good in depth analysis of POLY and prospects. Now why would you do that? I suggest you read through before knee-jerk posts as this author indicates he sees a long game, i.e. no asset disposal at all!!! The author however assumes POLY will be able to continue operations merely switching to otr suppliers and markets with no further additional sanctions. That is a very dodgy tightrope to walk and laden with risk, indeed the author even uses the 'b' word as a potential consequence of doing nothing regarding the split, BANKRUPTCY.

The delusional rampers have literally turned this board in to an ADVFN AIM penny share ramp fest, filter him, ban him, block him. Only those posting from the crib sheet are to be heard.

Ignoring the rather silly comment tying to make out I was equating a company with POLY when I was actually directing people to consider the wider context of the comments, honestly - is that what you are reduced to?

As Alicia's post indicates, the refusal to trade with Russia is across all countries irrespective of sanctions or best buddy status - nothing Russia says can be trusted. Businesses rely on each other in a complex web of interactions. There is a critical point where the system falls to pieces like a deciduous leaf hanging on to green into autumn until the cascade of irreversible brown suddenly and rapidly takes over killing off the leaf. Sounds like the cascade of collapse is underway as the web of businesses fails in Russia. POLY's Russian mines will not be able to operate at all soon and the prevarication in dumping them may result in them having no value at all when disposed of to free up POLY Kazakhstan to trade normally wit the rest of the world.

https://english.nv.ua/business/why-international-companies-sell-business-assets-in-russia-to-local-managers-50261289.html

Read it again CS, his time actually read it. This is a typical comment now and there are many many more leaving for good. It will take a complete transformation from the very top to the very bottom for any business to consider dipping a toe in again. The world doesn't need Russia. POLY will not worth a tenth of present value shackled with Russian assets in a regime with a risk of sequestering everything overnight.

In fact, it seems now to have little to do with the war now the shock of the tyranny is subsided. Russia has massively regressed into an unpredictable centralist autocratic nomans land for business. Sure, it will dodgy deals under the table with dodgy regimes and business men but most businesses and countries will not get involved in that. Globalisation has made it very easy to pull away from toxic zones, Russia has made itself as toxic as it can get.

Sell the Russian assets to local Russian mafia businesses or whatever and leave he rest of POLY alone. POLY non-Russian is then not going to have a toxic association and will be free to expand fast outside Russia.

This is just sad. Some of you continue to think that a business with Russian assets is going to be viable in the future. The world of business is not going to suddenly or gradually return to 'normal' post war. POLY will find it extremely difficult to obtain financing, account facilities, insurance, labour, expertise, apres, capital equipment, consumables, logistics, markets for the Russian hallmark etc.. Russia was already a dodgy lace to trust to do business, now business across the board irrespective of sanctions or geo location will simply not deal with companies from Russia or with substantial assets. The risks now are just far too great and it is going to take years, getting into decades to undo that. This is not going to end in a few months, this is settled in for many years to come. POLY will not be able to function in the near future or only with huge overheads unable to obtain competitive deals. This is the consequences right across the board for Russia and those connected.

https://english.nv.ua/business/why-international-companies-sell-business-assets-in-russia-to-local-managers-50261289.html

What is really happening and the MBO route POLY could go down in disposing of the Russian, assets. Danfoss' story could be similar to POLY.

If the war stopped tomorrow and Putin pulled back immediately to the positions on 23rd Feb, the toxic assets situation would not change one bit. Accountability for the destruction and murder will keep Russia in the dog house for many, many years to come. Even if sanctions get lifted as quickly as 12 months, those are the government ones. Private business have made it blindingly obvious what they think about doing business in Russia. And that includes businesses all over the world including 'friendly' countries. The likes of POLY will simply not be able to operate with Russian assets.

And being realistic, what are the chances of any sanctions being lifted whilst Russia is on Ukraine sorry? The ace card with energy has dissolved in a puff of lignite smoke.

"The majority of international resource associated entities within Russia have or are also withdrawing from Russian activities and operations."

Poly has to do the right thing and dispose of its assets in Russia.

Note, deal is in $ Also note the going rate as a % of book valuation, maybe a very rough guide to POLY's Russian asset sale price, and this deal is to be handed back to shareholders with a divvie. Also note the comments at the end of the statement. Most companies are or going to pull out of Russia and POLY must not get trapped.

"Robin Young, CEO of Amur, commented:

“The US$ 35 million offer for the purchase of our Kun-Manie asset is a last and final offer from Bering Metals LLC, a Russian incorporated company controlled by Vladislav Sviblov. Economic sanctions and Russian foreign currency exchange controls implemented with regard to the ‘Special Military Operation’ have adversely impacted our ability to advance, develop and place Kun-Manie into production in the foreseeable future,

Given the geopolitical situation, we highly recommend that shareholders approve the offer which at completion and receipt of a single payment of US$ 35 million, a special dividend of 1.8 pence will be paid to shareholders within 90 days of receipt of funds.

Should shareholders reject the sale of Kun-Manie, there are virtually no alternatives available to our advancing development of the project. This includes a sale to non-Russian entities or to the ever increasing list of Russian sanctioned mining companies, funding institutions and banks. The majority of international resource associated entities within Russia have or are also withdrawing from Russian activities and operations.

The Company does not foresee that another offer to purchase Kun-Manie would be forthcoming in the event that the current offer is rejected.”"

Shows the board must move fast to dump the toxic assets. The 'discussion' in the boardroom should be over now and the trajectory established. I'm sure if the decision was to not split or sell, we would have heard as such because there would be nothing to delay such news for. Therefore, it must be the split/sell is cleared to go ahead as soon as the technicals are ironed out. How long from the prospectus to allow a vote (via corporate action or pis)? Or is it possible the board could act without a vote? Are pi holdings so small any pi result would not materially affect the vote of iis? One thing is for sure, they need to move quickly and get this share openly trading again and distant from more creeping sanctions.

Continuation of treading water with the few brokers accepting trades. The RNS demonstrating a firm plan to ditch the toxic assets needs to be published sooner rather than later to persuade brokers to allow buying in advance of the vote.

There may, however, be an issue of organised stuffing of the ballot box with new holders, 1 share each for 10,000 new holders for example on MOEX, unless the voting rule is backdated to May or April holders for example. Given the dark forces trying to stop the disposal of toxic assets, organising such a scheme to fiddle the vote is quite possible.

Wow, the Kremlin crew working away feverishly to have all POLY related posts quoting factual evidence from real company RNSs deleted. Russians using VPN gre from 1.2million to 24 million over the last few months so they could access unrestricted web information, some maybe here. That is why it is so important that any negative must be deleted as it clashes with the propaganda line.

So statements like this from POLY,
“The Committee is acting in the interests of all of the Company’s shareholders with the ultimate goal of unlocking the Company’s value by removing its exposure to the Russian Assets."
have to be deleted by any means necessary because it indicates something is very wrong, why else would POLY wish to 'removing its exposure to the Russian Assets."'? What's wrong with Russian assets?

That is why sites where Russians might have an interest are targeted so aggressively, hide the truth.
I just wish LSE would be wise to this and stop facilitating the work of the Kremlin sensors.

Schroder is deeply connected with businesses in Russia, very much a supporter and advocate of Russia. He has an agenda and I would be very skeptical about whatever he says as it is most likely a diversionary tactic fed by his Russian handlers. You are supposed to start believing, set up for a knockback later a bit punch drunk ready to accept something less favourable. Shroder is an agent of Russia, this story has been around a couple of days.

Consider this profile from Russia friendly Guardian;
https://www.theguardian.com/world/2022/may/19/gerhard-schroder-to-be-stripped-of-office-for-not-cutting-ties-with-russia