Member Info for JRC1000

I’m not sure where you’re coming from Pskov - there are too many moving parts to your message. All that matters is the bottom line and the new management appear to be rightly concentrating on the two things they can control - volume and costs which, in POG’s case, are inextricably linked dependent on source and quality of ores. At present there is a limit to the volume of ore and concentrate they can process and therefore quality and processing efficiency is paramount.

From the previous interview …..

“ This year we are confirming our production plans. This is 430,000–470,000 ounces, taking into account the third-party concentrate, the third-party of which is 60,000–80,000 ounces. I think that for third-party concentrate we will be closer to the lower limit, around 60,000, and for our own concentrate, this is 370,000-390,000 ounces per year, and here we will be closer to the upper limit.”

So it looks like we’ll be at the lower end of the estimate by year end, but that the current run-rate is at the top end. So all depends on improved cost management to get us back into profit after last year.

I see that all Precious Metal stocks are up markedly - might be as simple as following the herd.

I haven’t done a detailed analysis of SP v GP, but I’ve often noted that there doesn’t seem to be much of a day to day correlation between the two (apart from when there are massive swings). So I’m guessing that there may be some good news coming which may also be responsible for the fairly high number of trades (albeit a good proportion of smallish transaction which look price manipulative).

In his interview, Denis said….” I will only say that there will be a dividend policy, we plan to announce it literally at the end of October. And depending on it, we will determine when we will be able to start paying dividends and to what extent.”

‘Literally’ obviously means ‘not’!

What? Do you mean the Strategy Roadmap that was promised for end of last month. Just another missed date with no explanation or acknowledgment of failure to deliver - this is POG after all!

On the whole, I’m comfortable with the results, the forecast, and the improving transparency. It must be a constant balancing act to decide between own ore and 3rd Party dependent on the relative recovery rates and prices sought. The goal must be to find that elusive high grade ore which would really get the juices flowing. At current (own) grades it must be a temptation to seek proven 3rd Party ores and concentrates.

No mention of a separate Strategy Statement “by the end of the month” - I wonder if we are supposed to deduce this as having been folded into various comments in the Trading Statement.

The Market is generally suspicious of these last minute changes so it will be interesting to see what happens to SP which appears to have been rising steadily in expectation.

No RNS yet - close of play?

So it looks like 2 potentially upbeat RNSs by the end of the month - Trading Update next week (20th) and Strategy Statement thereafter.

Thanks, Lawrence.

Translation ?

No - can’t see it.

Any chance you could relay the gist of the interviews - tried without success to access advfn (as usual).

Thanks

That’s a big jump - do you think someone’s showing interest ?

Magnum Double Gold for me please !

Rusty- it was an observation not ‘analysis’, but I think what your views indicate is that you think that POG’s relatively high price, compared with CEY based on CURRENT performance of both companies, includes a premium for possible future performance.

Please don’t look upon any of my observations as trying to promote negativity - just simple comparison based on current metrics.

Rusty - the observation I was trying make in my earlier post was that given POG and CEY Market Caps are similar but CEY’s fundamentals are superior, then either CEY is well underpriced or POG is overpriced.

POG and CEY Market Cap remarkably similar given POG’s debt levels and totally different Financials generally.