Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I checked today with Halyk Finance.
You are allowed to open a brokerage account as a UK citizen and UK resident with Halyk Finance to be able to trade shares listed on AIX. I received forms to complete today - both Kazakh and English language translation is used on the forms.
It seems straightforward required notarised copies of Passport, additional forms of identification and address.
thanks,
Celtics.
Recall 1H22 Results had $355MM increase in Net Debt related to Forex on Debt and Cash. Related to upward US$ re-valuation of Rouble-denominated debt driven by 30% Rouble strengthening.
https://www.polymetalinternational.com/upload/iblock/311/vu5mk0a70k3ycn39mm99cv0oaf9x0pjl/2022_09_Polymetal_financial_results_H1-2022.pdf
According to the Russian Central Bank. USDRUB rates were as followed -
USDRUB was 51.1580 as at 30th June 2022
USDRUB was 70.3375 as at 31st Dec 2022
https://www.cbr.ru/eng/currency_base/daily/?UniDbQuery.Posted=True&UniDbQuery.To=31.12.2022
It is reasonable to expect material Net Debt reduction from the position at 1H22 related to -
- Downward US$ re-valuation of Rouble-denominated debt driven by Rouble weakening.
- Accumulated Inventory unwind.
I am cautiously optimistic Net Debt will be inside $2.2B to $2.3B.
thanks,
Celtics.
$1,792 realised gold price for full year 2022.
https://ml-eu.globenewswire.com/Resource/Download/0462daea-ac54-4c4c-a9ee-c9f62df2e5cb
thanks,
Celtics.
Less than 9% of Western firms have divested from Russia.
This study was done by University of St Gallen; a highly reputable University.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4322502
thanks,
Celtics.
Official Russian Embassy in Sweden is showing a map of Ukraine that includes Crimea and Donbas as part of Ukraine.
https://www.cnbc.com/2023/01/19/russian-embassy-tweets-map-that-shows-crimea-as-part-of-ukraine.html
https://twitter.com/RusEmbSwe/status/1615391927242719244
thanks,
Celtics.
There is a lot of speculation on Russian Telegram channels that the Special Military Operation will official end.
*************s/obrazbuduschego2
thanks,
Celtics.
This is where you can find the USDRUB Exchange Rates - https://www.cbr.ru/eng/currency_base/
The average USDRUB Exchange Rate for 2022 was 68.
thanks,
Celtics.
From the 2021 Annual Report -
"We are aiming to maintain an above sector- average dividend yield. Our Dividend Policy is for a minimum 50% pay-out of underlying net earnings, paid each half year (subject to absolute Net debt/ previous 12-months’ Adjusted EBITDA ceiling of 2.5x). In addition, the Board has discretion to increase the final dividend for the second half year to a maximum annual pay-out of 100% of free cash flow."
CEO and CFO spoke last year during Investor Q&A about wanting to bring the Net Debt /Adjusted EBITDA ceiling to 2.0x before Dividends would become possible again.
thanks,
Celtics.
This is bigger than the CPI print today, and that's why I think Gold is above 1900.
https://twitter.com/DeItaone/status/1613532641256476673
thanks,
Celtics.
Not sure if this was shared earlier - https://interfax.com/newsroom/exclusive-interviews/86175/
thanks,
Celtics.
Prigozhin is a prominent figure in the Russian war campaign. I do not speak Russian and therefore cannot confirm the translation included in the video.
https://twitter.com/vidtranslator/status/1609483303236550657
He is quoted as saying to Ukrainian POW - "the main thing for us is to finish this story and start again"
Is conclusion of the war or beginning of the end the catalyst that is underpinning the recent stock movement.
thanks,
Celtics.
The peace formula proposed by Ukraine has been in the public domain for some time.
https://www.president.gov.ua/en/news/ukrayina-zavzhdi-bula-liderom-mirotvorchih-zusil-yaksho-rosi-79141
I hope a resolution can be found. However, both sides so far have signalled an unwillingness to make concessions.
This was the response from Russia to Ukraine's peace formula - https://tass.com/politics/1555759
thanks,
Celtics.
I see this as a negative development for a miner operating in Ghana. But positive for holders of physical gold.
The Ghana Central Bank effectively nationalised 20% of miners' output.
https://www.reuters.com/markets/commodities/ghana-orders-mining-firms-sell-20-refined-gold-cbank-vice-president-2022-11-25/
Ask yourself the question, what currency is the miner going to be paid in?
Thanks,
Celtics.
Polyus released 1H22 results today.
https://polyus.com/upload/iblock/070/2022_09_21_fr_1h2022_eng.pdf
thanks,
Celtics.
Price action on MOEX today may be related to the announcement of referendums in the occupied areas in Ukraine.
From High to Low on the day is >20% drop however, it is worth to note that it did bounce significantly off the daily low. I am surprised there was no circuit breaker on MOEX.
Poly LSE is still discounted versus the MOEX listed price.
thanks,
Celtics.
This release by POG on 19th August 2022 refers to Decree 520.
https://petropavlovskplc.com/wp-content/uploads/2022/08/Update-From-Administrators-19.08-1.pdf
In that they say - " The Administrators also continue to consider, with our legal advisers and UMMC, the effect of executive decree no. 520 promulgated by the President of the Russian Federation on 5 August 2022. At present, we do not anticipate that decree will have a material effect on completion of the transaction, but we are reviewing the position continually."
thanks,
Celtics.
Sale of Petropavlovsk to UMMC (it's Creditor) for $600MM.
https://petropavlovskplc.com/wp-content/uploads/2022/08/Agreement-by-the-Guarantor-to-Sell-its-Assets-Petropavlovsk-2010-Ltd-4-Aug-2022.pdf
thanks,
Celtics.
This is a quite interesting - https://twitter.com/NorthstarCharts/status/1551179352032911360
To look at the chart itself - https://www.tradingview.com/chart/?symbol=US30Y%2FUS10Y and then overlay Gold by clicking the plus button on top left hand side and typing gold/tvc.
thanks,
Celtics.
Reviewing the sale of Russian assets by Kinross to Highland Gold.
The Russian government capped the consideration price to $0.34M between the parties.
The consideration price earlier agreed between the parties was $0.68M.
The revised transaction involved $0.3M of the $0.34 being paid immediately to Kinross, while the earlier transaction structure had payment instalments several years out.
Russian government capped the consideration price to effectively discourage foreign companies from leaving Russia and incentivising those that are prepared to work in Russia.
Kinross Russian Assets - Proved & Probable Gold reserves of 4.15 Moz.
Polymetal Russian Assets - Proved and Probable Gold reserves of 17.8 Moz.
Polymetal Russian Assets are graded higher than Kinross.
Kinross is Canadian listed and therefore owned by non-Russian residents.
Polymetal has 22% free float on MOEX and is therefore owned partially by Russian residents.
Capping any transaction price between Polymetal and a potential Buyer would effectively penalise those Russian residents that are Polymetal shareholders.
Russian gross debt is $1.294B - Slide 10 https://www.polymetalinternational.com/upload/iblock/673/2022_04_CMD_presentation.pdf
During the 25th April 2022 update - https://www.youtube.com/watch?v=OvTwuGfgUcY.
At 58 minutes the Polymetal CFO stated in response to a question that there is no recourse option for Russian debt to be transferred to the Parent company. Russian debt effectively remains with Polymetal Russia, in addition he went on to say that up to $400MM Cyprus debt is expected to be pushed down to Polymetal Russia.
The RNS updates of late have been very encouraging. A UK auditor has been appointed and the Company is now exploring an asset sale. Since a demerger was previously being explored, any Russian asset sale will be evaluated carefully against the value that would have been unlocked from a demerger.
I trust the Polymetal management to take the course of action that unlocks the most value to Shareholders as well as looking at the bigger picture that I sometimes fail to see. The management has navigated the last few months pretty well considering the challenges imposed on the Company.
thanks,
Celtics.