Member Info for Lawrence13

I doubt very much C4 apologised as it wasn't them that posted on a POG forum saying he was mentioned in their news item, unless you're saying the white left wing middle class C4 had really exposed Brexit and dodgy Putin. More fake news I'm afraid

Sorry if I sounded ungrateful but any references to Peter Hambro were very disappointing and I felt very much let down.

Three points
1) was this even worth mentioning
2) What crime exactly is Mr Banks supposed to be accused of
3) a typical load of left wing white middle class tosh

I searched channel 4 news Peter Hambro 2019 and couldn't find it anywhere so although frustrated I appreciate your link-cheers Mr Ista

I've looked for it but can't find it. What was the gist

Yes after the initial surge 2/3 weeks ago its sort of hunted around the 8pm mark POGS financial calendar spoke of a JORC report to be issued yesterday; or so I thought so. Anyhow short of gold making a charge I can't see any change until the FY 2018 Financial Results on Thursday 28th March. Who knows though some IRC good or bad news can have an effect

I understood it as if IRC don't pay POG will step in and do so. POG will have plenty by then with gold at $1400 and untold ounces of refractory gold

By Officehead

A sense of optimism seems to be appearing from posters and rightly so in my opinion. This weeks exploration and r&r update on Wednesday should add fuel to the optimism. An up an running POX changes so many things.
Not an expert on JORC but the ability to economically process refractory ore should convert much more of the resource into reserves.
In recent years all the focus has been on exploring for non-refractory ore to feed the large processing capacity of the 3 mines. This has meant focusing on large low grade mining with high stripping rates for pioneer and very limited oxide ore reserves for Malomir.
I note Polymetal recently announced the building of a second POX plant. They are spending well over $400 million for a plant capable of processing 250-300kt p/a. POGs POX plant has cost around $300 million for 500kt capacity p/a!

Yes CofE I'm starting to feel a tingle of excitement, we have the JORC report this Wednesday and gold starting to climb again to 1350, hopefully. when the market opens tonight at 11pm GMT

8.4 would be nice; as I get my money back.

I note the article was written by P.E. Thrambro

https://www.youtube.com/watch?v=vPOzBVNEMks

Ah yes Rusty GMD gold were going to finance the auto claves and then that deal fell through. That's where their savings/profit went. Now the other issue about the gold production price. Retired banker feels its nearer $900 Hambro 3 years ago said $600...anyone ?

Doh, you don't say. Sorry for the sarcasm but I'm fully aware of the date of that video . However I said I searched for it as I remember Hambro saying that gold was down to production costs of $600 and maybe up to $700. Also he clearly says the debt would be repaid by 2018-so what happened to drastically change those predications and facts

So that without any doubt in anyway can be construed as 'paying off debt',. So in that video Hambro clearly states that the production cost of gold was down to $600 and that debt would be paid by 2018 and the bonds by 2022.

Surely Rusty that isn't negating the debt but just a repackaging on slightly more favourable terms

Well RB: you say based on $1250 that the production cost is nearer $900 per ounce which is 50% higher than Hambros figure. At the moment gold is $70 higher than your figure with many experts (okay if we can believe them) saying Gold is going higher. But just based on $1300 per ounce and a production cost near Hambro's statement then things suddenly look brighter

Retired Banker: I remember that $600 per ounce production cost from a Peter Hambro interview. I had to look for it and I found it https://www.youtube.com/watch?v=_s9aQZkV6NU 1:50s in Hambro talks about this figure of $600. Also Hambro states at 6minutes that the bank debt would be paid back by 2018? What happened. Finally: surely the costs of the pox hubs in wrapped up in the debt so the process of creating each ounce of refractory gold the only cost extra is the production cost. I have no idea how much the production cost of each POX hub ounce is but surely as they have is it 9.6Moz of refractory gold resources in highly prospective, easily accessible, low strip deposits.. So surely the profit on each ounce produced must be very good and better than standard gold

Yeah why not, make it three.

POG plan possibly 500k ounces for 2019 and at lets be generous $1400 an ounce that would equate to 700million. Yes I understand some is hedged but am I right so far. The POG states capital expenditure of 50m and also I believe their production cost per ounce is $600 then that makes 350m profit. Have I got that right or am I way off beam?