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Thx h118...makes sense as well as divis can't be withheld forever. I would have thought POLY could've explored the escrow option for those wanting to keep cash safe until payments of divis made possible at some future date.
Yes kind of convergence between the twp prices is taking place; either naturally market driven or may be POLY itself doing the buying to add to Treasury and thereby bump up the the price to make one for one swap appear fair and therefore easier. A holder on MOEX would not be happy swapping one for one for something worth quite a bit less.
As regards BB and his bile comments, he has done what many on this board predicted he would do; disappear like a fart in the wind. I suspect few more like NH will follow suit as the benefits of holding POLY starts bearing real tangible benefits.
No let up in rise in sp past few days....anyone knows why?
Putting Crimea aside, examining details of peace terms agreed and then not agreed, I don't believe Russia was being unreasonable. Russian President Gorbachev reached understanding with Reagan and the West back in the 1980's for NATO not to expand the alliance incorporating former east European countries, but NATO did. Again, in the Minsk agreement in 2014, Ukraine signed up to an agreement (Minsk 2) whereby it would not apply membership to NATO and provide autonomy to Eastern Donbas region which are predominantly ethnic Russians.
Instead of adhering to the agreement signed by his country, comedian Zelensky fought and won the election on platform promising Ukrainians membership to NATO and embraced right wing elements like the Azov Battalion who were making life a misery on ethnic Russians. He cancelled Russian language and culture, denying access to even the ethnic Russians within Ukraine.
Compare this to UK where we happily provided autonomy to Wales, Scotland, N Ireland and we encourage learning of Welsh and encourage and celebrate local cultures.
Putin and Russia had enough and comedian Zelensky (with zero political experience) failed to grasp seriousness of the situation and hence we are where we are.
Russia is a powerful country with too much invested in the conflict (blood and money), and the war is on its border and therefore cannot possibly lose. Zelensky gambled and now trying to win back lost territory and salvage his 'reputation' using his people and our money as pokerchips.
This can only go on for so long...........
It's what you get when a comedian is in charge...both common sense and pragmatism goes out of the window. Like you say BSR, too much blood is spilt and that makes peace difficult.
Peace can/will only happen when Zelensky stops hallucinating of a victory
Now completed registration with Tabys and just receiving confirmation all is set up and showing my holdings. Thought I should get this done as we approach December and be ready for the divis.
In September, Nesis said "The company will “definitely” pay a dividend on its 2023 results. The board would discuss an interim dividend in December, depending on financial conditions and on progress with the sale of the Russian business.
Exchange rates have been going in POLY's favour and gold price is holding resulting in cash pouring out of PLOY's ears. I'm expecting divis to be announced in the coming weeks.
Think Dad's Army would give them run for their money....Ukraine's Dame Vera Lynn can try all she likes ......................
"Nesis said that the buyer of Poly R will have to be approved by The US govt (OFAC) especially as Poly K will still have dealing with Poly R until a processing plant is built in Kaz."
This is correct and that is why Polyus (Russian goldminer) who is on US sanctions list will be excluded from bidding for POLY asets.
It will not go down well for Zelensky if he and Ukraine now accept same terms as Russia offered/agreed to in spring 2022, and lets be honest what Russsia wanted before the war started. Basically, it is the implementation of Minsk 2 agreement which both countries signed in 2014, and which Ukraine gradually moved away from over time annoying Russia.
It is abundantly clear Ukraine cannot win this war. The country has lost 15% of its population through war and displacement since Feb 2022, and recruitment/conscription in armed forces now include women and men aged up to 70. How long can this go on for?
Potential agreement turned down by Zelensky on advice from his handlers now proving to be an albatross around his neck.
@MC...such events can have a significant bearing on sp. Decision to change the date was made this morning; I wonder could it be that in view of a surge in gold price in recent days, the company arranged an emergency board meeting to get a decision on 'interim' divis now instead of in Dec as previously stated? Or there could be an important update on sale of Russian business which may have gained traction in the past few hours.
POLY needs news along these lines to propel sp forward, which imo will stay mired in the absence of any such news.
Why would they change date so close to the call? Not that figures (which are historical) are going to change between now and the 31st.
Am I reading too much into this?
Change of date from 26th Oct to 31st Oct
Polymetal International plc
Q3 2023 production results webcast
Polymetal International plc will release the Group’s Q3 2023 production results on Tuesday, October 31.
The Company will hold a webcast on Tuesday, 31 October 2023, at 10:00 London time (16:00 Astana time).
To participate in the webcast, please register using the following link:
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"...depending on financial conditions and on progress with the sale..."
I don't think they need to wait for a sale to pay interim divis; both the trading environment and exchange rates have been very favourable, especially for the past 7 months.
In September, Nesis said "The company will “definitely” pay a dividend on its 2023 results. The board would discuss an interim dividend in December, depending on financial conditions and on progress with the sale of the Russian business."
With gold price where it is and extremely favourable exchange rates, I think interim divi is now looking a dead cert than probable. If we're lucky, we may see it announced next week.
It is clear and evident ICC's undeclared objective is to frighten and convict adversaries of US and the West, and that is why Blair and Bush are still roaming the streets having killed and displaced tens of millions conducting illegal wars, and why not a single action by Israel over many decades of atrocities inflicted on the Palestinians have gone unaccounted for.
The narrative in the western press would have one believe it all started on 7th October with attack by HAMAS; over looking decades of illegal occupation, Israeli atrocities both in Gaza and West Bank, gross violations of human rights, Palestinians right to resist and so on. Biden has said on number of occasions most recently, he would not shy away from calling out the wrongs when he sees one, and he has done that, but not once he said anything Israel.
I'll leave you guessing why that is!
"For example if he did lend his shares he wouldn’t be able to participate in voting at the AGM as the votes would go to whoever owns his shares at any given point."
Wolfie...this is true unless contractual arrangements to the contrary are made where voting rights stays with the holder. MA has proved himself over years he is well capable of challenging orthodoxy and I believe he would not hesitate to do that if he so wanted to.
Do I think he is doing this? Answer NO.
I think POLY Russia will fetch in excess of $6bn given the amount of investments gone into it in recent years which have now started to bear fruit and hence EBITDA north of $1bn this year. It is of course worth more than this.
I don't think us voting for it or not is going to make any difference either given shares held by Nesis and other institutions.
"Ukraine uses US-supplied ATACMS for the first time, says Zelensky"
Wow...ATCAMs will make a huge difference to Ukraine's counter offensive just like HIMARS, Challenger tanks, missiles have.
It's time Ukraine stopped trying fooling everyone and entered peace talks for the good of its people and its future.
In the same conference call, Nesis also said the sale of Russian assets would clear all POLY debt and leave money to reinvest and pay a divi. So not sure where $1 sale comes from.
I asked this question to Mr Nesis at the last conference call. His reply was that Russian business will deliver north of $1bn EBITDA this year and you apply multiple from there.
In normal situation, I would have thought Russian business was worth about $10bn give or take. These are not normal times and hence discounts will apply.