Member Info for Lawrence13

What does that mean David? I'm an ignoramus with the financial tech talk.

demean not demeanor

cont.
There are still a number of conditions that must be met for the sale to happen, as explained in our RNS on the transaction.
Best regards,
John

To see the SP creep lower and lower. Lets face it what investor with any nous would buy this share when the management and BoD give away major assets for peanuts; they're not idiots. If the BoD brief was to demeanor the attractiveness of this company then this lot are sure fire win

Anyhow I did email the customer team yet again and lay my cards on the table
--------------------------------------------------------------------------------------------

Why As a Private Investor I'm So Anxious3
To:John Mann,Patrick Pittaway,Max Zaltsman,John Smelt
Sun, 4 Jul at 15:20
Hello again John.
Of course I'm concerned for the future of POG as relative to me I have major savings invested in the company; that's why I was so bamboozled and shocked when we give away IRC for a pittance based on an agreement that wasn't binding by a long shot.
According to that Bloomberg article Avalon offered $40 million for POG's 29.9% share holding in IRC. You told me that the Chair of Gazprom Akimov agreed the sale for $10 million over 14 months later to a company called Stocken that nobody can find! So the $30 million dollar question is why did Akimov agree this over POG shareholders best interests?
It makes me even more suspicious that our main share holder Strukhov (USG) owes $500 to Akimovs Gazprom. It also concerns me that Boham. Akimov and Strukhov's man Kharin signed the charges against the previous CEO Pavel, which led to his incarceration last December to date; with still no charge. Added to that Bonham then sell their POG shares to Strukhov!!!
I feel totally helpless at present and can only see a substantive increase in the price of gold as the way this share price can now move upwards allowing some of us potential chumps, at least a chance to be getting out with something before the company is subject to a takeover at a much lower offer than the current SP.
I've laid my cards on the table here, Ive expressed my pessimistic view on what's happening at POG. The sale of the IRC 29.9 % stake in IRC 14 months later after initially agreed and after a remarkable turnaround in IRC fortunes as only concrete proof of my grave concerns for the future of POG.
Will I now be getting a visit from sinister men in black leather coats?
Once again why did Akimov agree to $10 million stocken and not $40 million Avalon, or are Avalon and Bloomberg lying?
Please tell me I'm wrong
Lawrence".

The response
-------------------------------------------------------------------------------------------------------------------------
Hi Lawrence
Thanks for relaying your concerns.
With regards to your question, as I wrote to you previously, once Gazprombank gave consent for the IRC-Stocken transaction, the agreement entered into in March 2020 became binding for Petropavlovsk. Furthermore, the company has not received any written offers for the IRC stake from anyone aside from Stocken. Statements to the contrary on either of these points are inaccurate

RBrand: I hope we all want the same thing and that is for our investments to grow. Forget everything else that we disagree over as how to safeguard our investments. In all honesty do you think $10 million is fair payment for POG's shareholding. We all know the IRC situation is chalk and cheese to what it was when the initial agreement was made. Shoudn't there at least been some discussion over it with shareholders?

So why was the bank (akimov and Gazprom) allowed to close the deal by the BOD?

Again you fail to answer.

Was $10m a fair price?

RBrand the all knowing Sage said last august 7th
"i just bought another 20k, thinking like you the village idiot could make big profits with gold this high. I dont care much about the vote result.with the present idiots and hambro gone, it will be ok and STRUKOV is definitely not a village idiot".

Oh dear last August rbrand purchased a full ISA years quota of shares at 37p . Hmmm village and idiot come to mind.

John Mann emailed the reply below last week. He said the bank closed the deal The bank is Gazprom right? The chair of gazprom is akimov . John Mann even admits the bank gave consent a year after the initial march 2020 RNS statement. What part of that RBrand do you not understand?

Let's ask you a couple of questions.
1) was/is $10 million a fair price for POG's 29.9% share holding?

2) Is Bloomberg and Avalon lying?

"1. As we stated in the Bloomberg article you linked to (reprinted in Mining Weekly), the March 2020 agreement became binding once Gazprombank gave consent for the transaction. Granted, the bank gave its consent over a year after the initial agreement was signed and market conditions have changed, but once that consent was granted, the deal became binding for Petropavlovsk. There are still a number of conditions that must be met for the sale to happen, as spelled out in our statements on the transaction, which are available on our website. It is also important to note that Petropavlovsk has not received any written offers for the IRC stake from anyone aside from Stocken. Statements to the contrary are inaccurate."

It makes one feel totally helpless but I'm going to let those bastards know that I know what they're up to. I've written a new email saying exactly what I've been saying here. I've asked
jm@petropavlovskplc.com
mz@petropavlovsk.net
pp@petropavlovskplc.com
teamir@petropavlovskplc.com
Why Akimov accepted $10 million as an offer that was clearly against the best interest of the shareholders. when the Avalon bid of $40 million had been made.

I suggest anyone that cares about being robbed does the same

Bloomberg article worth reading again

https://www.bloomberg.com/news/articles/2021-06-18/troubled-gold-miner-sold-stake-for-75-less-than-rival-proposal

PR at POG
when asked about the Bloomberg article said:

"1. As we stated in the Bloomberg article you linked to (reprinted in Mining Weekly), the March 2020 agreement became binding once Gazprombank gave consent for the transaction. Granted, the bank gave its consent over a year after the initial agreement was signed and market conditions have changed, but once that consent was granted, the deal became binding for Petropavlovsk. There are still a number of conditions that must be met for the sale to happen, as spelled out in our statements on the transaction, which are available on our website. It is also important to note that Petropavlovsk has not received any written offers for the IRC stake from anyone aside from Stocken. Statements to the contrary are inaccurate."

The bloomberg article says different

Avalon Mining Corporation Pte, a Singapore-based investment vehicle led by a former Trafigura Group executive, said in a statement to Bloomberg News it was “surprised” by Petropavlovsk’s recent announcement that it would sell its stake in Hong Kong-listed iron miner IRC Ltd. to Stocken Board AG, a Liechtenstein investment company.

“Petropavlovsk’s decision to first solicit rival bids, but then reject our leading offer in favor of a previously existing, non-binding, and sharply inferior terms raises serious questions,” Avalon said in the statement.

Petropavlovsk first announced a preliminary agreement with Stocken in March 2020, but said at the time that it was not binding. Then last month, Petropavlovsk said that the agreement had become binding".

Someone is not telling the truth and why did Gazprom (akimov) make the agreement with stocken a over year later and ignore higher bids.

Its alright people saying the quality of the posts have gone down but how are we to determine these seemingly rash stupid decisions?

These are not my words:

After the chaos of Denis and the AGM, shareholders should have the opportunity of seeing the part of the agreement between Petropavlovsk and Stocken that suddenly made it “binding”. The chat-rooms must call for this. Gazprom Bank’s letter too.

Shareholders also need to understand why the Board can ignore the wishes of the Bondholders. Can a Fairness Opinion from PWC allow this?
(Denis used to work for PWC, I think)

Got a reply from Mr Mann at PR at POG

Hi Lawrence



We included details on accessing the webcast in the original notice of AGM (page 9) and repeated this information on the AGM page of the website. The requirement for an IVC number to log in effectively replicates what would have happened had you attended the AGM in person. You would similarly have had to prove that they were a shareholder or had evidence that you were authorised by your broker to attend (via a letter of representation). It’s done to ensure that we respect shareholders’ (and only shareholders) rights to attend the meeting and is normal practice.



We released the results of the AGM this morning and they’re live on the website. The questions and answers will be published on our website as well in due course.



Best regards,

John

R Brands Post was Sponsored By

Konstantine Strukhov

Thanks Lescrou

So you feel Strukhov needs a high share price to or he pays a fine to Gazprom? At the moment surely he only makes a profit if the share price goes up and he sells his shares. Then he weakens his position. Unless he rents out his shares for shorting

Trouble is Lescrou, there is a strong line of argument that Strukhov wants/needs bad results to lower the share price for his acquisition, then and only then will the production hand brake be released. We all know gold has to rise and if timed right POG will be taken over on the cheap and then full steam ahead for gold output. So that's one line of thought. The other is as you say that Strukhov is disappointed with the results, But that's one I don't subscribe to. Too many games being played and smoke screens created.

As you seem to be in the know. What was Alexandrov's disobedience?

Yes Rusty and that may explain why Strukhovs voted against him but the odd thing is based on that Russian article Lescrou linked Strukhovs man on the Bod Kharin voted for him to remain CEO.
Lot's of maneuvering and energy being spent for personal gain and not for running the company at optimum

Thanks RB
Apparently Denis is right about the lower gold expectations as they are losing experienced staff and failing to do proper exploration.

So RB : even if the fear of strukhov is unfounded and they genuinely want POG to flourish the gold output just isn't there? That's how I understand your comments. What in your opinion sort of gold price rise could see us back at 40p again

I preferred goodies : we could have brought in Bill Oddie

Could spring Pavel from the chokie and reinstall him.