Well I read the central bank was paying 5000 roubles for every gram of gold and at the moment that's the equivalent of selling gold at 2100 USD per ounce. However, if the Ruble can't be sold for dollars and transmitted abroad its fairly accurate to say the price is artificial.
They can't really do much against a gold standard currency currently but I believe America's ticket out of financial misery will be science and innovation rather than commodities, and they are leading in the major fields of nuclear fusion, quantum computing and genetics.
It would be one less distraction for me in the office if that happened but doing this would only be an inconvenience because Poly could relist in another stock exchange, and they are already valued double in the Moex, so it could even be double in the Hong Kong exchange as well. The only reason why I'm not annoyed with the LSE price is also because I've been being buying like a mad man.
It's still a billion pound company so trades of that size are very normal and totally necessary for liquidity.
No need to be nervous, just put the funds into something similar with equivalent upside potential and then stand back and watch what happens here.
I see no headlines discussing Kazak involvement in the war, so quote your source please before making such claims.
The average UV index in Moscow from December to January is 0 and is only 1 in February, which means vitamin D deficiency could have been prevalent in the population in the run up to the invasion.
I have a theory that chronic vitamin-D deficiency in Russia due to the lack of sunlight is causing symptoms of depression and delirium, and this conflict is just a manifestation of the mass depressive disorder in the nation and because depression often causes suicidal tendencies, these threats of nukes and ICBM are also likely related to this issue. So the West should be proactive and send supplies of Vitamin-D to Russia, alongside military aid to Ukraine.
Russia has a better chance of full economic recovery if they avoid this behavior and they know most of the investment capital from international investors is ironically from these so called "unfriendly countries" and that's why they even bothered to perform dual listings in UK/US stock exchanges to begin with.
They have 3 months to sort this thing unless Russia passes legislation to criminalise non debt repayment and I don't think even getting sanctioned would be worse than total seizure of assets, because you can at least expect it to get unfrozen like Evraz in a few months/years.
I get my orders through Lloyd's share dealing and they're partially owned by Blackrock, so that's likely why they remain a broker, as Blackrock also own some shares in Poly.
I'm 80% sure tomorrow is a red day as any positive developments on the payment front would have been released by today, but I have my cash ready and my finger hovering over buy if i'm wrong, which is how I like it.
I am very comfortable buying at 2.50, it's a solid 8x back to all time high and it could easily get a 10x with a future gold price increase. Quick look at the monthly chart shows its also oversold and not even in the Bollinger band, with that 4 dollar price peak just touching the bottom bollinger. The balance sheet also looks healthy and they held onto the dividend to weather the storm, which is a good plan. May 9th is also fast approaching which is the first estimated date for the conflict to end.
They will probably update tomorrow or later today about the missed payment, because they would sensibly use today's hours to try and settle it.
My theory is some people bought in last few days to just flip the news and they cashed out meagre 10-20% gains. People's longer term confidence would have likely improved today however so I predict a higher low and then a steady rise if the situation remains stable in Russia.
POG still have 3 months from the date of first default notice but the risk factor here is astronomical, Poly commented in their investor meeting today that the POG mines are the only assets their interested in buying but the financial stress of the parent company prevents them from placing an offer, which means many groups are waiting for the company to go under before exclusively acquiring the mining assets, minus the debt and management.
It's because no opportunity to arbitrage and average the price exists.
If price didn't change then a good RNS update was already priced in. Nothing to stress about though, we have more time to accumulate sub £3.
This actually sounds more promising
@Lohen123 I am familiar with that rule in the UK but Russia is a different territory.