Member Info for JohnNth

Noticed you're the thickest on this bb with nothing of substance to add.

chippyslo..didn't think you would sink this low you ****** piece of s**t!

This war will only end once Ukraine fully accepts its responsibility as laid out in the Minsk 2 agreement signed in 2015; especially clauses regards autonomy for the Donbas region and protection of minority rights and culture within Ukraine. Zelensky repeatedly ignored Russian requests on this prior to the conflict, instead he undermined it like embraced right wing elements who were making life impossible for ethnic Russians in the east and further annoying Russia with talks of joining NATO.

Zelensky clearly miscalculated big time and ordinary Ukranians paid the price.

History will not be kind to him.

https://en.wikipedia.org/wiki/Minsk_agreements

"I did laugh (internally) when some here were raving about gold going to $2100"

I said that and still believe it will get there in the very near future. The fact gold is holding at current level is a testimony to that; with interest rates at this level, gold should really be at around $1000 per oz, but it's not. It dipped below $1,900 cos market thinks interest rates hikes in US is not over yet and this is holding up opportunity cost of holding gold.

For gold, de-dollarisation is providing the counter-weight to high interest rates which cannot go on forever at these levels. Gold should start picking up at first signs of rates peaking and take off when there is an actual cut in rates.

Lastly, for POLY the favourable exchange rates have more than compensated for the fall in price of gold. POLY guidance on Gold price in 2023 was $1,800 per oz but average price to date is about $1,920 oz; POLY guidance on US$ to Ruble exch rate for 2023 was 68 Rubles, but average so far have been about 87, and rates against other affecting currencies is also favourable.

In the absence of regular Russian update on the war, Ukraine govt have had a field day feeding misinformation on their own progress. Denying any access to media to the front line, they have controlled the narrative on the war and using it to defraud the western taxpayers into releasing ever more of their hard earned income, substantial amounts of which goes towards filling its own pockets.

Most recent Russian update brings some reality to the situation.

Little Englander.........

https://www.msn.com/en-gb/news/uknews/margaret-thatcher-s-ex-aide-scolds-spineless-and-cowardly-surrender-of-key-military-base/ar-AA1hB1k1?ocid=msedgntp&cvid=4e7ed4add2bd497ca2f5ca4e4bf1b5f8&ei=14

Ukraine now completely surrounded by govts not happy with Zelensky (Poland, Hungary, Slovakia and Romania just about).

Only Biden keeping this war going...any one knows why?

"We are ready to be allies of the USA in all military operations more strongly than Britain,”

So US has two poodles!

Definitely blackmail; Biden dare not say NO to any request from Zelensky and Ukraine. They've got him by the b***s!

I can see Trump making a request to Zelensky and Ukraine to come clean once he gains the GOP nomination and comes in open debates with Biden.

It will be interesting what Zelensky does; especially if the polls are showing Trump way ahead.

As far as I'm concerned, Nesis and the board haven't put a foot wrong. They took timely steps to protect the company and maintained its going concern status. POLY FCO said the company have ample credit facility if needed despite sanctions, but the debt is now falling.

And yes, if there was ceasefire, it would have significant impact on valuation so a little bit of a go slow on sale of Russian assets may not be a bad thing.

I am confident of interim divi by the year end, by which time hopefully there's also a resolve of Euroclear/NSD dispute.

Lastly, let's not lose sight of the fact POLY is in for a bumper year; best ever in terms of profits.

Next update is about a month away. POLY should be providing Q3 production update at or around end Oct, which will also cover general matters such as level of debt, inventories etc.

Trends on all fronts have been very favourable since July so update should be very interesting.

“We would value the deal at $1.5–2.3 billion (including net debt of $2.4 billion), which would be a positive development for minority shareholders on AIX and Moscow Exchange,”

I asked Nesis what approximate value of POLY Russia was. He said POLY Russia will deliver north of $1.0bn EBITDA and you apply multiple from thereon. If a company with that kind of profits mining for gold and was subject to an aggressive bid, I would have thought multiple would be around 10. But this is a forced sale and hence valuation around $6.0bn appears reasonable.

Further, I'm not phased at all by us not getting divis just yet. Whilst US$/Ruble exch rate is favourable, paying abck Ruble debt is a sensible thing to do.

Nesis said second half will be stronger due to favourable exchange rates kicking in after June, production normally stronger in the period, Kaz production picking up again from problems in first half and unwinding of gold inventory in Russia. He said the debt has already started falling but refused to provide current figure and said will provide update with third qtr production figures.

I've been saying for a while now, POLY will make record profits this year given trading environment surrounding the company. Previous best figures were achieved in 2020 and on each count so far since June POLY is better placed than it was in 2020.

Further to H1 update...............

https://www.reuters.com/markets/commodities/polymetal-ceo-new-tax-proposals-hit-price-russian-assets-sale-2023-09-25/

Russia alone will deliver EBITDA north of $1bn this year says Nesis

Nesis confirms debt now falling and will update at end of Qtr 3 update

"This will not be a fire sale; we must sell this asset for a lot of money."

says Nesis commenting on sale of POLY Russian assets.

https://www.miningweekly.com/article/polymetal-to-sell-russian-business-in-one-piece--ceo-2023-09-21

What is happening to POLY on MOEX?

https://www.tradingview.com/symbols/MOEX-POLY/

With fractures amongst anti Russian alliance now appearing very visible and elections in US UK in the next year, Ukraine is in a race against time to secure enough to have any meaningful leverage at the negotiating table.

This war is now in its last phase; look out for peace overtures in the coming weeks from western alliance including US and UK.

https://www.bbc.co.uk/news/world-europe-66873495

https://foreignpolicy.com/2023/09/20/slovakia-snap-elections-robert-fico-prime-minister-smer-nato-ukraine/

And the pigeons.......

MOEX now working

Price 440p