We would love to hear your thoughts about our site and services, please take our survey here.
Foregone conclusion surely. Large investors (usually LTHs) would almost certainly have voted against Divi payment at AGM for obvious reasons - they are in long term and understand that in uncertain times you hold cash rather than splurging it. I was also ready to vote 'against' should the divi vote have gone forward. As for all the hysteria regarding debts!! - would have thought that even some of the posters here would have realised that POLY digs real Money out of the ground. Also, as a result of their operation POLY has a good credit rating. Outlook for gold price is very positive as inflation and fiat debts increase.
For anybody who believes that Russia hasn't outfoxed Biden's sanctions I recommend reading the following article where Putin's sidestepping of sanctions is happening and predicted as I previously mentioned by Jim Rickards. https://thecradle.co/Article/columns/8638
Redinjun...the report on RT is nothing more than has been predicted to happen for many months - if not years - by the likes of eg Jim Rickards. James G. Rickards is editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in Capital markets on Wall Street. He was principal negotiator of the rescue of Long-Term Capital Management LP by the US Federal Reserve in 1998. He has advised several US Governments for the last 2 decades on the future threat posed to the World's economy by Russia and China with their divestment of dollars in exchange for gold. He has 'war-gamed' for the White House the consequences of Russia/China pegging their currencies to gold (or vice-versa) as a consequence of which forecasted the demise of the reserve status for the dollar. I realise not of interest to day-traders but might be useful to LTHs i.e Investors (not speculators) when planning investments in tier 1 gold miners.
bankrupty...In the US, ruble tends to be used.
In the UK either ruble or rouble is used, with rouble being the most commonly used. Cut and pasted.
latpulldown - are they skint? Hardly think so but school of thought is that Russia/China keen to break dollar as World's reserve currency and by getting customers used to paying for oil via their SPFS system- rather than petrodollars - they are directly attacking the Dollar's ascendancy over the last 40odd years. You will be aware that Russia and China have been selling off dollars for some years, using it to purchase gold.
Fact rather than fiction - Rouble is currently trading at pre-invasion rates vs Dollar (83 to 1 dollar). Putin wins whether Russia sells commodities eg oil, gold, whatever in Roubles, Dollars, Euros, Yuan, Gold etc etc. Biden having to release 30% of strategic oil reserves to reduce US pump prices. Russia converts oil into diesel which powers world's shipping, cars, delivery vehicles, farming and construction vehicles etc etc. - word is for diesel rationing this year unless sanctions eased. Could go on but point is - DYOR not fiction. Putin is a nasty individual who has been allowed to plan his Ukrainian invasion since 2014 whilst the West increased their dependence on Russian supplies to the extent even that Germany refuses to stop importing vast amounts of Russian gas. It was estimated this week that approx one-sixth of World is complying with sanctions. We, in the West, will be the ones who pay the financial price for sanctions, Ukrainians will suffer physically for our reliance on Russia's 'good graces' in keeping us supplied with essential commodities...meanwhile UK protesters blockade oil depots here...give me strength.
That frightened all the amateur day traders lol. Was it Wilde who coined the phrase...price of everything and value of nothing. As a LTH very happy to buy when the chicks all run scared round the farmyard.
Blacksteel - well said, my sentiments exactly. Have been invested in POLY for several years on the basis that it was a well-run Company with a good, knowledgeable BoD, good and increasing resources and reserves, well constructed plant and equipment, a contented workforce and excellent safety record. Ticked all the boxes - apart from the usual with so many commodity Companies - geolocation.
DGR.... Agree in part and disagree in part. Yes full implementation of a demerger would normally be expected to take in excess of 9 months. BUT the agreement, or otherwise, for the BoD to proceed with detailed investigation of the intricacies involved and the likelihood of returning a satisfactory result can be obtained fairly quickly from investors. At an AGM I would expect the BoD to lay out all the pros and cons and reasons for adoption or otherwise to shareholders - this would be better than market chatter or even RNS's. GSK, for example, are to put forward/implement their demerger proposals, they hope, in June/July. Amongst other difficulties with a demerger there is what to do with existing debt of the parent. Demerger becomes more attractive the longer this conflict lasts, or is expected to.
I have been expecting at least talk of a possible demerger from the beginning of this invasion. I don't see one, if it materialises, as being at all a bad thing since the Kazakhstan element can proceed without undue interference whilst the Russian element will continue as a separate company with more immediate domestic risks. Shareholders would be expected to vote on such a proposal and the forthcoming AGM would seem an obvious venue. Usually shareholders in the parent company ie POLY would be offered shares in both newly formed companies. Much to consider for the BoD and meantime who knows what will happen and when with talks and sanctions. POLY doesn't let you get bored.
Narayana Murty's holding as at 31 December 2021 was 0.4%, reported to have been worth £311m. The Murty clan total holding ca 3.6% therefore worth ca £2.8bn. Rishi's wife's holding ca £723m. Apparently hubby unaware of this meagre holding he says? Maybe true but does that make his ignorance an OK matter? You decide.
In light of sanctions affecting the valuation etc of POLY, along with so much else, is it a surprise to anybody that our Chancellor is unaware of his wife's minority (£723m, 0.93%) stake in Infosys operating an office in Moscow? Narayana Murty's holding as at 31 December 2021 was 0.4%, reported to have been worth £311m. The Murty clan total holding ca 3.6% therefore worth ca £2.8bn. Rishi's wife's holding ca £723m. Apparently hubby unaware of this meagre holding he says? Maybe true but does that make his ignorance an OK matter? You decide.
beechknot - the word 'sell' occurs in a high percentage of your posts therefore now filtered.
Now 173 - curious sell.
Your large seller has so far raised the sp from 166 to 168 - in which case let's have more large sellers.
Would be very surprised if anybody came in with an offer prior to Sycamore having made a position whether to buy or not and at what price. Basic rules of negotiation.
According to figs posted here the IIs hold something like 83% of shares. This is extraordinarily high and given the status and expertise of these holders I wouldn't expect any low-ball offer, from anyone, to get the nod from them - regardless of press speculation regarding expertise of BOD. By the same token, assuming IIs expect to hold pro tem then liquidity is very low in trading this stock - hence might anticipate sudden and large movements in price.
maestro1 - I care about most things, more than you can imagine, especially having lived through the Cuban missile crisis and having paid a mortgage at 17% in my life. However the one thing that underpins virtually everything that we do on this planet is energy, its availability and its price. Whether growing food, using tractors, combines etc, whether delivering said food to shops, or further afield in ships, whether keeping the lights on and warmth in cold weather... I could write an essay on why energy is the one and only currency that really matters. But to conclude I would just say that energy is now being weaponised by Russia and its friends (Iran etc) so freely available energy, under our feet or in the North Sea, ready for the taking would actually circumvent Putin and other dictators from throwing their weight about. By the way gold is ALL about energy if you care to analyse its discovery, extraction, refining, delivery and supply.
I work in the energy supply business. Whilst I totally agree that we should extract vastly more oil and gas from the North Sea, rather than import from abroad, nevertheless all gas brought ashore from the North Sea goes into Transco's pipelines which are connected to Europe via the Interconnector pipeline through the Chunnel - thus the gas price is determined by demand from Europe. Obviously if we could extract enough gas to supply both the UK and the EU fully then prices would reduce.
Whether POLY remains a viable, investable, business is unfortunately in the hands of politicians....oh dear...but investors in gold generally believe that this monetary metal will stage a dramatic comeback as a 'store of value' in opposition to bits of paper printed continuously by particularly the US. This link provides interesting reading in that respect https://moneyweek.com/investments/commodities/gold/603131/how-much-gold-does-china-own