Member Info for Gavster-NBC

EVR has loads of cash... Yes but which banks accounts and where is the $3 Billion, Russia, USA, UK, Cyprus ?
This smacks of the company being broken up and all the cash will end up with the management/company in Moscow. The ROTW assets will be fire sold off or given away, and the cash taken to Russia where the original Evraz Steel makers will keep making the steel for Putin's tanks.
Sadly, my hopes of the reverse, being that the Russian Assets sold off and a good sized company carrying on with the flagship solar powered steel works in the USA are just that, hopes.
This is a Russian board of directors and they will behave Russian right now and that means taking their factories back and cosying up to the Kremlin. Hence the share price.
All IMO.

Hi Stormer. Thanks for that. It maybe the case that they'll have to pay out a fair chunk, but tithasn't stopped them announcing the luxury of a £100m share buyback program.

Just what is going on..
Is the business outlook really that bad ?
It's all doing OK IMO and the broker ratings are not too bad. I'm overweight currently and at a 10% loss since buying before Putin's war started.
Berenberg may have played some games as they issued one in the morning and a more favourable one this afternoon.
Here's the list from the news.
CREDIT SUISSE CUTS DIRECT LINE PRICE TARGET TO 350 (375) PENCE - 'OUTPERFORM'
BERENBERG CUTS DIRECT LINE TO 'HOLD' ('BUY') - TARGET 295 (396) PENCE
DEUTSCHE BANK RAISES DIRECT LINE INSURANCE TO 'BUY' (HOLD) - PRICE TARGET 340 PENCE
HSBC CUTS DIRECT LINE PRICE TARGET TO 330 (350) PENCE - 'HOLD'
Berenberg raises Direct Line price target to 307 (295) pence - 'hold'
GOLDMAN CUTS DIRECT LINE PRICE TARGET TO 380 (390) PENCE - 'BUY'
JPMorgan reinitiates Direct Line with 'overweight' - price target 390 pence

Direct Line announced a £100m share buyback and increased its final dividend as the insurance group posted an increase in annual operating profit.
Operating profit for the year to the end of December rose 11.4% to £581.8m as gross written premiums dipped 0.3% to £3.17bn.
The FTSE 250 group said it would buy back £100m of its own shares and increased its final dividend by 2.7% to 15.1p a share.
Pretax profit fell by £5.4m to £446m because of £62m of restructuring and one-off costs including the purchase of its office in Bromley, south London.

That's a new high in GBP.

It's a good question about AISC.
If we assume it goes up 5-10% with inflation then it is still very good and less than the increase in gold price.
From the presentation
Group AISC – (DOWN) 6.3% to US$ 1,173/oz ((DOWN) 13.4% to ZAR567,023/kg)
• Evander Mines u/g AISC (H1 FY22) - (DOWN) 60.5% to US$ 983/oz
• 80% of Group production (Elikhulu, BTRP, Evander u/g and Fairview Mines u/g) at an AISC of US$ 1,034/oz
• Target AISC for FY2022 < US$ 1,200/oz*

Interesting that we are down slightly today, on the day gold broke through $2000 and also sits comfortably above £1500.

Could be to do with this strike elsewhere. PAF has sorted it's pay deal well anticipating the problems of inflation, and hopefully is part of the 'greener grass' that unhappy employees of other gold mines would look to.

https://www.bloomberg.com/news/articles/2022-03-08/sibanye-says-biggest-unions-to-embark-on-strike-at-gold-mines

Shell totally missing the point that buying oil from Russia provides the money that funds Putin's war machine.

50 Cents not 50p...
I have to wonder at the investment knowledge of people in the 'herd'.

It's not about where the revenues come from, it's about where the product comes from. IMO, it should be assumed that Evraz can continue as a company without any of the Russian assets. Arguably it was slowly doing this already with the coal sell off. Continuing without any Russian investors or BOD will not effect Evraz's position as innovating the world's first solar powered steel plant. The company can easily be split into Russian and Non-Russian plants and investors, and the value of the non-Russian parts of the company are way above today's market cap.

I suppose the shares will be zero p that morning...

Some big holders must be dumping his stock, may be Abramovich himself.
The SP is an equivalent value lower than that of the company stripped of all Russian Assets !!
Opportunity for the brave, or less brave once the hands are revealed at a higher price.

Highest level in GBP since the spike in 2020. Bodes well for the SP despite the Putin vs Ukraine Invasion fears that is sweeping markets.
PAF with much less debt than 2020 and more gold being produced.
POG in US$ currently $1946.
Mid 20's still IMO.

https://goldprice.org/spot-gold.html

Because he is Jewish, an Israel citizen, like Zelensky himself, who understands and has lived in the west, and has met and befriended western influential businessmen and politicians, at the same time an ex-Oligarch who was charge of a Russian region who has the trust of Putin.

"Evraz technically isn't a Russian company!'
The reality when looking at the operations and the shareholders makes this company very much have a Russian heart and leaves it vulnerable to much sanctioning or a break up.
Personally I think the share price already reflects the company stripped of its Russian Assets. The tie up between Evraz and BP Solar for example make this one of the most forward thinking manufacturing companies IMO.
The SP at the moment makes it a buy for the long term but a very very choppy ride ahead.

IMO Will not be long before Blackrock and other fund management companies come under the same pressure as companies like BP to cease their investment interest in Russian assets. Even the Swiss, who stayed neutral throughout WW2 are joining sanctions.
POLY is pricing itself to be delisted from the LSE or even broken up leaving just the Kazakhstan mines.

Well this is good )))
Missed the chance to buy yesterday, but hey, happy to be well up with my holding.
So what happened to the quarterly divi then...

Massive rise today...

https://www.marketbeat.com/instant-alerts/lon-sse-a-buy-or-sell-right-now-2022-02-2-3/

I will not be around for the conference call but certainly I'd like someone to ask if all the cash balances are in banks that will not have sanction problems.

Why would having their own bank transfer system help Russia when the only way to transfer money to Europe is via SWIFT ?

Mind boggling...
Gold is sitting at $1887 as I write.
Its like the world is at peace and there are no pscycho Russian leaders threatening to nuke anyone in the way of their invasion plans...
Any idea where the massive sales came from to cause such a move ? The usual cartel in paper gold or was it real this time, maybe Putin himself, selling his metal to fund a palatial bunker build.

Damage limitation. That's all very well, but there is no getting round the geography, the mines are in Russia, and POLY is a classic example of a Russian company using London's markets to obtain finance.