Member Info for Lawrence13

What I ******** idiot I am. I based for simple calculation, on 100m = 8.125 and then four years it was five years and I should have times that by 5, i.e. 500m doh.......

I was calculating four years at 8.i25% which is 32.5 ?

So that means the original loan of $500m has to be paid on the 14th November 2022 in the meantime interest payments of 8.125%each year until 2022? approx. 30 plus million in interest have I got that right?

I posted it again as two people complained it was behind the FT's pay wall ; just trying to be helpful

Only a part of my money is still there unless the SP rises substantially which hasn't happened so far with the present board.

I have to say my Uncle Peter ;-) I believe is desperate to see this through. yes he cocked things up by over stretching but I truly feel he feels a sense of shame and doesn't want to die with that bitter memory. Sounds dramatic I know but I'm convinced he is aching to rectify the damage he did so he can look the PI's in the eye knowing that many have finally done well after a long period of loss. I think he is an honourable man . Now Contrarian would say what sentimental crap but I'd rather people run the company who believe in it and want to right a wrong than people that can't even be bothered visiting the Amur region

PH wades in post Friday's pod cast from a letter to the Times

Peter Hambro has criticised the performance of Petropavlovsk’s recently appointed chief executive ahead of this week’s annual general meeting, where shareholders will vote on a motion seeking to oust the board.

Mr Hambro, co-founder of the Russian-based gold company, said it was “shameful that chief executive Roman Deniskin” was not prepared admit during a call with investors on Friday that a project to construct a new processing plan was “badly behind schedule”.

“In reply to questions from me and other participants, the recently appointed chief executive failed to say whether or not the commissioning, particularly of the flotation part of the Pressure Oxidation project, was sufficiently advanced to provide meaningful gold production in 2018,” Mr Hambro said in a letter sent to the Financial Times. “His reply was that it ‘would produce ounces’, but failed to say how many. When pressed, by me he refused to quantify but added that they would be ‘uneconomic’ ounces”.

CABS and Slevin, two offshore trusts that control 9.1 per cent of Petropavlovsk, are seeking to oust the company’s board and bring back its former chief executive Pavel Maslovskiy, who founded the London-listed miner with MR Hambro in 1994. They have the support of Kazakh tycoon Kenes Rakishev, who owns 22 per cent of the company.

CABS and Slevin also invited Mr Hambro to return as a director but due to “personal commitments” he has only agreed to provide external support to the board.

Mr Hambro continued: “If Petropavlovsk’s own concentration plant is not capable of producing sufficient gold concentrate for the plant to process, of course it is ‘good’, as I clearly said, that Petropavlovsk should find a supply from third party. However it is shameful that the CEO dissemble and is not prepared to admit publicly that the project under his management is, as we know from the managers and Union, badly behind schedule.”

“Treating third-part concentrate would strengthen cash flow, which the CEO seems to confuse with strengthening the Balance sheet. Only a sale, or some partial disposal, would achieve that end and contemplation of a disposal is something that he continues to deny.”

I realise people don't read my post but I posted the article earlier today . Essentially its a letter written to the financial times from Peter hambro commenting on Fridays pogcast and I headed the post the Times At Midnight a tad Shakespearian don't you think?

"Wait around long enough and things crawl back out from their holes"

Exactly that's precisely what the current board have been forced to do, ripped away from their money for nothing salaries and forced at last to squeal

"are putting out fires he created all over the POG landscape! "

Yes the best way to put out fires is several thousand miles away

"Let it go Peter, move on, your time has come and gone, you nearly blew the company up and destroyed it. "

You forgot to mention that inconvenient little fact that with Peter Hambro there would be no 'Petropavlovsk' he built the company from nothing

" POG needs new blood and direction away from the Hambro & Maslovsky failed think tank and proposed dynasty, let the current board get on with the job!"

Well we've had " new blood and direction " for nearly a year and all we've got is a languishing company and now a civil war, that worked out really well

Excuse my naivety; but does the vote actually get counted at the AGM ?

Thank you Mr Istabraq

PH wades in post Friday's pod cast from a letter to the Times

Peter Hambro has criticised the performance of Petropavlovsk’s recently appointed chief executive ahead of this week’s annual general meeting, where shareholders will vote on a motion seeking to oust the board.

Mr Hambro, co-founder of the Russian-based gold company, said it was “shameful that chief executive Roman Deniskin” was not prepared admit during a call with investors on Friday that a project to construct a new processing plan was “badly behind schedule”.

“In reply to questions from me and other participants, the recently appointed chief executive failed to say whether or not the commissioning, particularly of the flotation part of the Pressure Oxidation project, was sufficiently advanced to provide meaningful gold production in 2018,” Mr Hambro said in a letter sent to the Financial Times. “His reply was that it ‘would produce ounces’, but failed to say how many. When pressed, by me he refused to quantify but added that they would be ‘uneconomic’ ounces”.

CABS and Slevin, two offshore trusts that control 9.1 per cent of Petropavlovsk, are seeking to oust the company’s board and bring back its former chief executive Pavel Maslovskiy, who founded the London-listed miner with MR Hambro in 1994. They have the support of Kazakh tycoon Kenes Rakishev, who owns 22 per cent of the company.

CABS and Slevin also invited Mr Hambro to return as a director but due to “personal commitments” he has only agreed to provide external support to the board.

Mr Hambro continued: “If Petropavlovsk’s own concentration plant is not capable of producing sufficient gold concentrate for the plant to process, of course it is ‘good’, as I clearly said, that Petropavlovsk should find a supply from third party. However it is shameful that the CEO dissemble and is not prepared to admit publicly that the project under his management is, as we know from the managers and Union, badly behind schedule.”

“Treating third-part concentrate would strengthen cash flow, which the CEO seems to confuse with strengthening the Balance sheet. Only a sale, or some partial disposal, would achieve that end and contemplation of a disposal is something that he continues to deny.”

So CofE is a she?

Paywall copy & paste ?

I've given up. A POX on all their houses

The stuff about Pavel: was that in yesterdays POGCAST if so I never heard it

But renova wanted the present board ?

Yes when that coordinating chap said we have Peter Hambro on the line I thought 'blimey'. As you say it was all the right words and buzz terms like a typical politician nowadays, saying a lot but saying nothing

When it gets to £1 per share I'm selling

Big POG day and this site goes on a 24 hour holiday.

Well Pogites what was your verdict on yesterdays pogcast. Blimey even Peter Hambro called in and asked questions TWICE!!!!!!
I don't think Deniskin was that convincing. If this years coup comes of I wonder where the beautiful Alya will finish up?