The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Nero, you hit the nail on the head again with your post.
Markets are currently dominated by passive funds which have done very well recently. AIM companies are unable to take part in this success at first, as their shares are not held by these types of fund. But a rising tide eventually raises all boats and soon enough we should see some action in the junior space.
One thing we know is that once the juniors & explorers start to move, the gains tend to be explosive. Investors who don't have the stomach for this type of volatility should not be in the AIM market to begin with.
I totally agree, nero.
And POG is FAR from irrelevant, 88.
I certainly wouldn't be selling any gold shares in the very week that the POG climbs above $2k (or for that matter, for as long as gold remains above $2k).
I'm inclined to agree with Nero that Mark and JM have been waiting it out in expectation of a surge in the gold price. The related rise in SP of junior miners should lag the POG slightly, but it's like a loaded spring. Once the POG settles above $2k we should see a sharp rise in the juniors and I wouldn't want to miss out on that, given how low they are right now.
If the POG continues to rise into Q1 as expected, the juniors will start bagging and there will be some frenzied buying activity by the majors.
The POG has been trying to breakout for much of this year and despite several attempts at $2k it has fallen back each time. I'm sure Mark and JM also expected it to happen sooner, which is why they opted to put Condor on the market when they did.
However, this recent breakout looks like it could really be the one. The S&P is now at 4560 and rising, while US treasuries have started falling back now that inflation and Funds Rate are 'under control' - All of this is new territory and the indications for gold are very good.
If (as expected) gold continues its rise towards year end, I think we might see a nice surprise for Condor by the end of Q1.
The share price in Russia has been quite steady around £9 since it reopened . Clearly, Russian investors don't see any problem.
They're all looking forward to that juicy dividend.
The fact is, Russian investors don't care about the war or sanctions, to them neither of these things affect the value of POLY in the least.
All they see is a world class company at a ridiculously cheap price. Not surprising that they value this stock at 800p or more, it's still cheap to them at this price.
Over a few days the price on different exchanges will equalise somewhat so we can expect way more upside in the very short term.
If trading opens up again on MOEX just think about this: Russian shareholders don't give a hoot about any of the risks that we see in the UK. Looking at POLY all they see is an amazing company that is drastically undervalued, one with a current dividend yield around 30%.
They're not going to be concerned about sanctions or any of the other risks we see. Sanctions won't affect the value of the gold being pulled out of the ground. If I was a Russian I would be piling in to this stock tomorrow.
Will people stop repeating the lie that POLY is getting delisted. The share is being 'deleted' from INDICES due to a fall in liquidity, it is NOT being delisted from the stock market.
That's two days in a row we've seen big rises. Now 22% up today alone - Someone must have got wind of the latest production/sales figures..
I don't think any fund manager could be expected to sell out at a huge loss, just because of political sentiment. If they did so I imagine they would get sued by their own customers!
It doesn't matter if billionaires get sanctioned, they're just shareholders like everyone else. The company goes on regardless.
Several here have suggested that Blackrock is unloading its holding. As I understand it, they took some flack for buying up another 5% and then said they would stop any FURTHER investments in Russia.
They did not say they would unload the shares they already had.
(Unlike Norges, who said they would disinvest but didn't give a timescale for that).
Welcome on board, Spoony!
Northscot, that is the point I was addressing (already).
We all know the board have given themselves the option to cancel, and that's only reasonable. But the fact that they have twice confirmed their INTENTION to pay the divi, and have confirmed the cash is already in a Cyprus bank - This strongly suggests we have a pretty good chance of receiving it.
They have also confirmed that operations have not yet been affected and that they have a large inventory of supplies in hand.
So stop trying to deramp the whole time.
Not only have the board already set aside the cash, but they have now TWICE confirmed their intention to pay the divi. The dealings over at Evraz have no bearing on this because their divi was announced a long time ago, it was not re-confirmed twice in a week as with POLY.
The POLY board confirmed only THIS MORNING that they have the cash and fully expect to pay the May dividend.
Yes, they have to leave the option open to alter this plan (after all, there's a war on) but it seems more than reasonable to assume a high probability that investors will in fact be getting this payout in a few weeks' time.
We've heard a lot about trade sanctions on Russia but I haven't seen any commentary on the news about other CIS states.
There are 8 or 9 countries in the CIS commonwealth with a free trade agreement between them, so unless ALL of those countries are sanctioned it means goods can still trade fairly freely across the Russian border. Not to mention China, of course.
So with Kazakh operations accounting for around 33% of sales and only (roughly) half the total debt to offset, and $400m in cash, it does look as though assets outside Russia should be worth 300-400p at least
Torna, it's good to see that you've taken the debt into consideration. However, I've looked around and as far as I can tell about half the debt is to Russian banks. Therefore if Putin were to seize all Russian assets I would expect the company to walk away from all the debt to the Russian banks