Member Info for buffa

Hereshopin .... can you point me to where info regarding purchase of Blackrock's additional 5% @ £7 per share is documented. All my sources indicate 50p.

Trying to make sense of Blackrock's recent purchase from Financial Reports. Facts are 5% purchase which equates to 23.7m shares. Media reports that I have found state cost £12m. That means 50p per share!! Can anyone enlighten me?

All day in conference debating economic realities that we now face. Consensus seems to be a joint attack on the West by Russia (overtly) with China (covertly). Russia literally has the power - oil and gas - to the extent that swift still handles Russian payments for these exports. IF this supply switched off, West would be in chaos. In any case Russia could demand payment for their export in Roubles (West would have to buy them at an exchange rate set by Russia) or even in Gold - again Russia setting rate. Meanwhile ****stan, China, India happy to purchase any and all oil/gas that Putin can supply. If payment in Gold then this attacks the Dollar as Reserve currency thesis, Gold would become new Reserve currency. The latter then means that ALL Countries would nationalise Gold miners - private production of currency is counterfeiting! Just thought I'd share this small snippet of a scary day's debate which has the overall message that atm the West is more scared of Russia (+China) than the reverse.

that ADM reinsures about threequarters of its insurance exposure via, predominantly, Munich Re - this makes the company very stable compared to other insurers. As for inflation concerns - well that will affect everybody in the insurance business and it is always possible to raise premiums - which I expect to happen across all companies so nothing out of the ordinary there. On a more positive note do not see this company in particular or sector more generally exposed to Russian sanctions etc. Overall ADM a well-run company.

Don't forget that you can filter out any poster that you find to deliberately mislead. I'm finding a regular drip-feed of drivel from an increasing element on this board.

Institutions have virtually all agreed not to touch any share with a Russian connection. Therefore current day to day price movements down to day traders. FWIW I will await positive news out of Ukraine (hopefully) before taking much notice of price. Meantime good luck to you day traders, as a LTH I will await news.

Both POLY and Evraz being quickly driven down by traders taking end of day profits.

Dash to get in .... why so sudden?

caravanboy - old news old son.

As above

Wressmycash - just to make your statement clear - POLY does not sell gold direct to the Russian Central Bank.

POLY marking time until analysts have their chance to cross examine CEO at 11 am. Meanwhile, in the real world, number 1 concern is threat of all-out nuclear war topping list of potential problems.

A colleague reminded me of some further points of consideration re POLY - they include the fact that the Company obtains loans, where required, at low interest rates - Why? - because (would you believe it) they use gold as collateral!! Secondly let's do an 'Oligarch check'. None of the board figure on the corrupt Oligarch list of 35 people issued by campaigner and opposition MP Alexey Navalny from his Russian prison cell (by Twitter I believe). Navalny survived an assassination attempt from Novichok August 2020. The CEO's Brother, Alexander (14 years older - I think) is a self-made entrepreneur who obtained a degree BA Science (Russian style) and began Gold and Silver exploration in Kazakhstan which led to the founding of POLY. He has interest still in POLY but no longer in running Company. His younger brother Vitaly Nesis (CEO) gained his BA (Econ) at Yale before obtaining a Masters degree in mining at St Petersburg. The point being made is that the CEO and his brother are not guys parachuted into a state run company, knowing next to nothing of the technology (hello Abramovich - No1 on Navalny's list), by their pal Putin. Listen to the CEO - he has done a sterling job at POLY and knows his business inside out. Why all this info? Because I believe the more you know about a company the more confidence you can have giving them your hard-earned. Doesn't mean that tomorrow won't be a disaster for POLY and its investors but at least we've done due diligence as Blackrock might have said - or we've studied the form book if horse racing is your thing.

Within the last few minutes price traded aggressively down from just under 280 to just over 250. Poor dears must be knackered working at their screens all day but profitable for them since they will have few chances to be able to trade a volatile share between two well established price markers. My screen just finished at about 256.

Downbutnotout - you would be lucky to buy today at 250. Day traders have seemingly had buys in at 250.2 upwards all day, trading both up and down between 250.2 and 270+. Day traders do not normally work in round numbers such as 250 for all sorts of reasons.

On the eve of results and hopefully some real clarification what do we know about POLY? First their operation in Kazakhstan is outside Russia and an independent country - so on the face of it POLY production there should be 'protected'. We know that the Chairman is ex Chair Blackrock subsidiary and that Blackrock has doubled to 10% their investment a few days ago. Coincidence? POLY is a Tier 1 gold producer with low costs and increasing reserves during a bull market for Gold. My understanding is that the forthcoming dividend payout is already held within a Cypriot Bank. Most POLY gold is shipped to China in crude form to be smelted into bars. The Chinese are large purchasers of the product and would be expected to buy at market prices. The Russian Banks have previously been buyers but have also had to buy at market prices. Gold is not normally viewed as a 'strategic' product, unlike oil, gas, for example and, I believe, why it has not been so far subject to sanction - as well as the obvious fact that the Gold is not the property of the Russian Government - unlike oil and gas which benefit directly the Russian Government and Oligarch friends of Putin. So, as I said, tomorrow will be interesting to see how this plays out. For investors, as I said in a previous message, it is all about risk vs reward. Meanwhile further talks scheduled for tomorrow so my thoughts are with all Ukrainians whose very lives depend upon a speedy, peaceful, resolution to this invasion.

There she goes again....from the 270s travelling back down to the 250s...as I said you could almost set your clock by it.

Sea of Blue? My impression from today's trading is exactly that....day trading.....being traded up from 250.2 before being sold down around 270. This is a daytraders dream allowing multiple virtually predictable trades. Be interesting when US daytraders get involved as so many more of them.

Am informed an 'IT Problem'.

....is the Chairman of POLY and between 2016-2019 was also chair of Blackrock World Mining Trust. Am I alone in finding it interesting that Blackrock have recently been buying POLY shares at prices, presumably, somewhat higher than todays.