Member Info for Lawrence13

Gold production starts tomorrow ,Yeyyyyyyyyyyyyyy

" enough knowledge to recognize IRC is a potential " goldmine"." No POG is a goldmine unless you're a staunch believer in Alchemy . Nice optimistic post.. Surely SP has to start rising soon as the autoclaves start increasing their pressure

Is expected to start producing low levels a from pretty much now on and ramping up production through 2019? Surely that has to shift the SP......upwards.

Worked at treat, without it we'd be down to 5.5p

Well that depends on how many read the Sunday Telegraph and they then take Pavel's confidence seriously, It was still nice however to hear him so upbeat about the POX hub. Gold markets open at 11pm gmt and a further rise there and what with Pavels optimism we might see 6.7p tomorrow

Part III

at the AGM, the interim board was ejected, and he was handed back the keys to the company’s Hyde Park office.
The triumph was bittersweet: Maslovskiy claims to have stabilised work on the plant, but he has had to do it without his former partner, as Hambro, 73, declined the chance to return. The company’s wood-panelled boardroom is bare, after the interim board stripped the pictures that once hung there.
“There is a saying: ‘you can’t come to water twice’; it’s still different,” Maslovskiy says. “I was used to Peter being chairman and he owned this room. It had this old fashioned atmosphere. And now it’s empty walls. But on a practical basis it’s all right. The team keeps working.”
Maslovskiy is confident Petropavlovsk will soon have its POX plant up and running.
“It is a turnaround event,” he says, which should allow Petropavlovsk to process more of the gold in its mines and even refine the metal for others.
He promises it will become a “stable cash cow”, enabling it to restart dividends, which stopped in 2013, and is working to end the onerous loan guarantee on IRC. Maslovskiy doesn’t think the current tensions between the UK and Russia should dim the miner’s prospects.
The stock has always suffered a so-called “Russian discount” but investors are not fazed by the geopolitics or by Donald Trump: “We met shareholders and nobody had any reservations; it’s as if it’s a parallel world.”
Only health will slow him down, he says. “At the moment I feel good, but as we say, ‘If you are awake after 60 and nothing aches, that means you are dead!’”

Part II
In true Russian style, however, the story is not without drama and intrigue.
The company was worth nearly £2bn and was knocking on the door of the FTSE 100 when in 2012 the gold price tumbled from its record high.
Petropavlovsk had racked up debt of $1bn (£780m) as it sought to expand its output with a new processing plant. A failure to hedge its gold sales left it exposed: the shares collapsed and never recovered; its market value today is around £205m.
“The mistake was obvious: we didn’t hedge. But our banks didn’t require it,” Maslovskiy recalls. “Everybody was excited about the gold price. A lot of analysts were saying it would go to $3,000 an ounce, so hedging was unpopular.”
Maslovskiy had spent three years away from Petropavlovsk serving as a senator in the Russian parliament, where, he says, his main job was to “throw out stupid ideas”. But he returned to steer the company through a refinancing. In the course of that, Renova, an investment vehicle belonging to billionaire Viktor Vekselberg, came on board as an investor.
Renova built up its stake to 22pc and in 2016 demanded the company look at merging its assets with some of Vekselberg’s deposits. Maslovskiy recalls the deal was a non-starter.
Matters worsened last year when Renova, in league with investment funds Sothic and M&G, ousted Hambro from the board, and installed four new directors, including Bruce Buck, the chairman of Chelsea Football Club. Maslovskiy decided to give the new board a chance.
But the final straw for him was an apparent attempt by some board members to alter the minutes of its first meeting. He resigned in protest.
A vital refinancing was completed months later, but delays cost the company $50m, he says.
To the amazement of the City, the turmoil began anew earlier this year after Renova abruptly sold off its stake to Kazakh investor Kenes Rakishev. Maslovskiy believes Vekselberg’s team simply didn’t know what they wanted to do with the company.
Shortly after a pair of “mystery investors” holding a 10pc stake in the company teamed up with Rakishev to demand the ousting of the new board and the reinstatement of Maslovskiy.
He had no idea whether the gambit would succeed: “My terms were very simple: our strategy was to complete the pressure oxidisation (POX) plant, and to save the team.”
The boardroom battle turned bitter, with the incumbent board laying the blame for Petropavlovsk’s weak share price firmly at Maslovskiy’s door. He was also attacked for allowing the company to hold a 31pc stake in IRC, an iron ore mining company chaired by Hambro’s son, and taking on the guarantee for $200m of IRC’s debt.
The mystery shareholders eventually revealed themselves to be Russians who had invested in cryptocurrency. Maslovskiy, for his part, questioned the ability of the board to complete the highly complex work on the POX hub.
“That board came in knowing nothing, and doing no homework,” he says. In the event, Maslovskiy won a vote by 52pc at the A

https://www.telegraph.co.uk/business/2018/11/17/believe-future-goldpetropavlovsk-chief-reclaiming-throne/

"There is a saying in my country: ‘A bitten person is worth two unbitten’,” says Pavel Maslovskiy, chief executive of Russian gold miner Petropavlovsk. “In other words, you learn much more when things go wrong as when you are being successful.”
At 62, Maslovskiy has plenty of experience on which to draw. As co-founder and chief executive of London-listed Petropavlovsk, sometimes better known by its ticker, “POG”, he has ridden some considerable highs and miserable lows.
He is also one of the few chief executives to stage a comeback: having lost control of the miner last year in a boardroom pincer movement, he wrestled it back in a tense struggle earlier this year
“Petropavlovsk is my baby,” Maslovskiy says simply, in his first interview since winning the tussle. He admits that he fell into gold mining with very little knowledge.
“Knowing much more, I would have been more careful,” he laughs.
But the newly reinstated chief knows he has much to do to reassure the City that POG can shake off its turbulent recent history. His strategy is “unarguable”, he says.
Maslovskiy cut his teeth developing special alloys for the Soviet military and space programme in the Seventies and Eighties.
The work was understandably secretive, but “we had a green light on everything”, he recalls.
“We could spend a lot of money on whatever ideas we had,” he explains. “I had an unbelievable budget. I was 30 years old and could spend millions of roubles on research!”
After the fall of the Soviet Union, Maslovskiy applied his expertise to the burgeoning commercial sector, making money from a private venture before the economy collapsed again in 1992.
A former classmate persuaded him to invest in a gold mine in his home state of Amur, in the far east of Russia. Gold mining, Maslovskiy notes, requires a good deal of metallurgy in order to extract and purify the metal.
“It’s not like iron ore, where you just dig it out and sell it,” he says. In the process, he became a “gold bug”. “I believe in the future of gold,” he says.
In 1994 Maslovskiy won the rights to a gold deposit but needed cash to develop it. He was introduced to Peter Hambro, scion of the London banking family, and the pair formed Petropavlovsk.
“It was quite a saga finding money. Everything had to be done in-house so we built quite a specific company – there were no contractors.”
To this day, the miner has its own college to train its engineers. Maslovskiy and Hambro became a double act; Hambro – nicknamed “Goldfinger” in some circles – handled the London investors, while Maslovskiy was in charge of the mining.
“Our partnership moved into friendship because we spent a lot of time together in the far east – in the middle of forests looking for assets and sleeping in log cabins,” he says.
Petropavlovsk put the first of four mines into operation in 1999 and floated on the London Stock Exchange

I note the next official POG update is Wednesday 23rd January 2019. Is there any news before then that could indicate if this is am sterile Dodo

Once that autoclave gets going this share will soar to 7p and it'll be glory days again.

Spot on Rusty

What's gone wrong ?

I was think more the price of gold than POG directly. So far though gold hasn't responded but the main issue is if the US is shaping up for some sort of civil war. See the response to QAnon

Prepare for dollar to weaken and gold to rise. Good for us but bad for more, Demoncrats and their supporters are thick. mentally ill or just plain evil

I'm getting to old and ugly scary that when I opened the door the kids gave me sweets

To Ista's recent thread based on his magic numbers? It seems to have disappeared

Whilst on the topic of vegetables how about Peter and Pavel, especially as they are getting old enough to have prostate problems -hence 'two P's in a Pog'

I'm just watching and waiting for the POX hub to start producing and if that doesn't push the SP up , then we're all traumatised turnips

I wonder how much 40,000 tonnes after oxidisation equates to in ounces ?

Will that bridge also reduce the helicopters fuel costs. As for deriding my good friend Mr H -wash your mouth out and by the way: who resides in Derby