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For all you non technical analyst out there I've worked out a few chart points.
Let's start with the negative, there is a small gap at around £2.62, any sell off should be limited to that level.
Upside, support line stretching back to June last year will now become a resistance around £5.90 level.
There is another one from December around £7.15 level.
Gap between £5.65 to £7.02 will eventually be filled, £5.65 could well be the first major resistance.
I'm no expert but I know a little so these are only a guide.
C4 news reported this evening that the Ukrainians were denying the severity of this, and did not feel it was an attempt to poison anyone.
Some see some negatives in the ft story I posted earlier. I personally think it's a positive as we now have some guaranteed value for shareholders should this war continue. Up until now it has been either make or break with no middle ground. Hopefully it will all be over by the end of the week in which case it's business as usual and hopefully the £6.89 gap is filled.Another big positive is how well the market is holding up after such a large move up, in my eyes it's taking a breather before the next move up.Only invest what you are prepared to lose.
Polymetal is considering splitting its Russian business from the rest of the company in an attempt by the London-listed gold and silver miner to insulate its international business from the knock-on effects of western sanctions.
While Polymetal has not been placed under UK, US or EU sanctions, it has suffered an exodus of shareholders including Norway’s sovereign wealth fund since Russia’s invasion of Ukraine, with its stock falling as much as 75 per cent. The company has also been ejected from the FTSE 100 index.
To combat the departure of investors, Polymetal is weighing whether to split its Russian and Kazakh businesses, each with their own listing, two people familiar with the discussions said.
Any such move would provide a strategy for other London-listed Russia-linked groups whose stock has tumbled as investors look to get out of companies that could fall foul of UK, US, or EU sanctions, or be hit by western economic and financial restrictions.
Other London-listed Russian companies with some non-Russian assets include LMK, Evraz Lukoil and EN+, the metals group that owns Russian aluminium producer Rusal.
The three people said a Polymetal split would divide the “operationally good” Kazakh assets from the “reputationally bad” Russian assets, which have felt the secondary effects of Vladimir Putin’s invasion of Ukraine and western sanctions against Russia.
Investors would have the option to retain holdings in both companies, or to sell their shares in the Russia business, if they were worried about the reputational risk or additional western sanctions.
Polymetal said a demerger of its international assets was being “evaluated” after some investors “suggested that we explore ways to modify asset holding structure to enable distinct ownership in various jurisdictions”.
The company’s biggest shareholder is a company connected with its founder Alexander Nesis, the brother of Polymetal’s chief executive Vitaly. Another big investor is BlackRock, which doubled its holding to 10 per cent in February as Russian troops advanced on Ukraine’s two biggest cities.
Both people familiar with the talks said the discussions about whether to proceed with the split were continuing.
Polymetal last week appointed Riccardo Orcel as chair after a boardroom exodus.
The Italian was previously head of global banking at VTB Capital, the investment banking arm of Russia’s second-largest lender, which is winding down its European operations because of sanctions
Two-thirds of Polymetal’s assets are in Russia along with its management team, which is based in St Petersburg. The remainder of its business is in Kazakhstan where it operates two mines that produced more than 550,000 ounces of gold equivalent last year and generates enough cash to cover its dividend.
Last year it produced nearly 1.7mn ounces of gold. At the end of December the company had $1.8bn of net debt and no borrowings maturing this year. At present 39 per cent of th
Polymetal is considering splitting its Russian business from the rest of the company in an attempt by the London-listed gold and silver miner to insulate its international business from the knock-on effects of western sanctions.
While Polymetal has not been placed under UK, US or EU sanctions, it has suffered an exodus of shareholders including Norway’s sovereign wealth fund since Russia’s invasion of Ukraine, with its stock falling as much as 75 per cent. The company has also been ejected from the FTSE 100 index
I'm just surprised at how financially naive some are on here. If your investing in this company and you have to ask when the dividend will be paid or up until Friday last week you were thinking that the share would be completely untradable you shouldn't be in the market. Learn some basic finance and then come back.We've had a near 30% uplift in the last 2 days, there is bound to be some profit taking.Putin won't be confiscating any assets, in fact I expect the Russians to pile in at the first opportunity. Monday always starts with a rally so sell out at you peril.
My medium term target is £6.89 which will fill the gap. Don't let anyone panic you out.
Richie33 - it's good that you highlight some of the potential pitfalls ahead. Should hopefully stop people putting in all their savings into this and not just what they can afford to lose.
I personally don't think stopping or delaying the dividend will be much of an issue as the money will still be in the business, and potentially prove to be a positive as it will shore up any short term liquidity issues.
From what I have read, I do not recall Putin mentioning nationalisation, threatening to nuke us yes but nothing about seizing assets.
BlackRock dumping it's holdings, possibility but a better buying opportunity for everyone else.
One thing is for certain though, the current share price is pretty much discounting all the above unlikely scenario hence it being a strong buy in my opinion
£663 million market cap, £684 million net profit.
Looks like an absolute bargain to me, and thats
why I think the gap to £6.89 will eventually be filled.
In my eyes this removes some of the risk associated with Russia nationalising Polys assets. They clearly want to keep the foreign investors onside.
Ft article
Russian bonds extended their recent rally on Friday as investors bet Moscow had succeeded in making interest payments on its dollar debt this week, staving off the country’s first sovereign default since 1998.
Don't assume index tracker funds will sell their holdings, they could quite easily move them into another account.
MaverickD
I can't see any gaps from yesterday, there is a massive one between £5.64 to £6.98 which will eventually be filled.
The West has to much invested and needs Russian resources for it to remain a pariah for long.
The Ukrainians were hoping we would come to their help, but the realisation that this will not happen will encourage a ceasefire.
The road ahead will be bumpy and there are still risks but at once peace is established, or more to the point it becomes palatable again to hold Russian assets things will quickly get back to normal. In the meantime, all else fails blame the Germans
Ft article
Volodymyr Zelensky launched an excoriating attack on Germany over its policy towards Ukraine, accusing its leaders of placing good economic relations with Vladimir Putin over the security of Europe.
“We’ve seen how many ties your companies have with Russia,” he said in an address to the Bundestag, “with a country that just uses you and other countries to finance its war”.
Ukraine and Russia have made significant progress on a tentative 15-point peace plan including a ceasefire and Russian withdrawal if Kyiv declares neutrality and accepts limits on its armed forces, according to three people involved in the talks.
Was debating whether to add more this morning.
My personal thinking is that there may be a few more forced sellers ( tracker funds) before the weekend deadline. Therefore will wait and see before doubling up.
You are coming from this from the wrong angle, there are so many institutional buyers out there itching to buy but unable to do so due to public opinion. Once a ceasefire is declared those buyers after a relative short grace period will pile back in.
Well that's my opinion.
You run the risk that a ceasefire is declared and then you'll be joining the FOMO brigade.
Stake a sensible amount that your prepared to lose and wait it out.
Cop
Ceasefire agreed
£3.47
(Clearly a lot of hope is built into this one, but you never know)
As has already been mentioned, the earlier announcement will have no impact on share dealing.
Polymetal International plc (POLY)Polymetal: Important notice regarding FTSE exclusion14-March-2022 / 17:30 MSKDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.Release timeIMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOYDate14 March 2022 Polymetal International plcImportant notice regarding FTSE exclusionThe recent exclusion of Polymetal shares from the series of FTSE equity indices does not impact the ?ompany's listing on the London Stock Exchange (LSE). Trading of POLY shares on LSE and Astana International Exchange (AIX) continues
Average is £2.01
Let's see where it ends