Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I have said for months, there is something going on. The share trading and UT still suggest that is so. To me it looks like a concerted effort to get the price lower, possibly to close a short by buying lower. Just because it looks like shares are available, unless you actually push the button to buy, you never know whether it can be executed. Time will tell.
Freddie2, if you check the closing prices on other shares, you will certainly not, see the UT Below the prevailing price. It is normally one or the other. Of course, it can differentiate, but, not the way it has on this share.
And as I predicted
20.26 Bid: 20.30 Ask: 20.34 Change: -0.36 (-1.75%) This is not a coincidence
Very simple but a series of sells on and let the market makers trigger them. Lets see what the finish is today, and whether the closing price is below the prevailing price at the end.
Anyone who is a premium member can see the trades ready to be struck.
This is being played !!!!! When there was news, there was higher volume so less room to manipulate. 2 days with low volumes , no news and both days the final finish, is below the prevailing SP. I can see this continuing albeit very slowly, until we have either a big increase in gold price, or gold comes back into favour. Did not purchase when lower, as money did not come through, but will still have a nibble when eventually, it does come through.
Nothing about KPMG, No further update on IRC, A profit, but, that was expected after write downs last year, Progress but nothing startling. Net debt is about the same, as they have borrowed money. They refinance part of the bonds with a term loan due 2023, but then although they say its cheaper, Whats the rate ??? They do say they keep whole year forecasts, I am expecting radical improvement in second half.
The link brings up this ?/ 404
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If it was true, I just wonder how they manage to get that sort of information, as, as far as I know, that information is not in the public domain ???
If this is true, and it is confirmed, that has to come to the bottom line. so hopefully a good 12 months for profit. One step at a time though, and first half next week
Very creative accounting IRC recorded a reversal of previous asset impairment losses of US$75.8 million, bringing the 2020 net profit figure to US$100.6 million. making the figures look much better than they actually are. Exactly the opposite of what POG did with the bond conversions, making ours look worse than they were.
Oops, That was meant to be, I do agree POG has been badly run for years.
Yes Lawrence13 the blatant attempt by Pavel to sell IRC,
L3Trader, I totally disagree that POG is a basket case. I do not disagree that POG has been badly run over the years. The current board did ot make the agreement and price of IRC, so I do ot see why people feel like blaming them. They have made mistakes that was not one of them, that was on Pavels watch.
The fact that POG have the pox hub, is a very valuable asset , That along with the rserves, should see a turnaround n the share price. I still stick to my prediction, that POG will pull a rabbit out of the hat in the second and increase production.
I would suggest that this puts to bed your theory that Strukhov, has any connection with Stocken, instead of perpetually rubbishing UGC, perhaps it might be worthwhile ringing their investor relations and asking them why it has are so long to make a stance. I just hope its not before the horse has bolted.
The sale by Petropavlovsk PLC of its 29.9% shareholding in IRC Limited
In March 2020, Petropavlovsk PLC (“Petropavlovsk”), in which JSC Uzhuralzoloto Group of Companies (“UGC”) holds a 29.19% voting interest, entered into an agreement (the “Agreement”) with Stocken Board AG (“Stocken”), a Liechtenstein-incorporated investment company, which set out the terms on which Petropavlovsk would sell to Stocken a c.29.9% shareholding in IRC Limited (“IRC”) for U.S.$ 10 million, subject to certain conditions precedent being met (the “Proposed Transaction”).
According to one of the conditions precedent, following the consent of Gazprombank ("GPB") to the Proposed Transaction and the Agreement becoming binding, Petropavlovsk’s Board has to determine whether the Proposed Transaction should be approved by the holders of the Company's U.S.$500,000,000 8.125% Guaranteed Notes due 2022 (the “Bonds” and “Bond Holders”) or whether such approval is not required based on an independent expert opinion that the terms of the Proposed Transaction are fair from the financial standpoint (the “Opinion”). In May 2021, Petropavlovsk announced that GPB had consented to the Proposed Transaction and the Agreement had become binding. At the time the Agreement became binding the market value of the Company’s stake in IRC was worth significantly more than U.S.$10 million (and closer to U.S.$100 million).
UGC announces that it does not consider that completion of the Proposed Transaction is consistent with Petropavlovsk’s business interests and that Petropavlovsk should therefore seek the approval of the Proposed Transaction by the Bond Holders.
UGC believes that due to logistical benefits, the location of its production assets and the overall outlook on the iron ore market, IRC has a strong potential for growth, and that the U.S.$10 million cash consideration under the Proposed Transaction does not represent its fundamental value, especially given that the market value of the Petropavlovsk's stake in IRC around the time the Agreement became binding was worth more than U.S.$100 million.
It is also expected that, as a part of the consideration under the Proposed Transaction, Petropavlovsk would be released from its loan guarantees given to GPB under the facility agreements signed between Kimkano-Sutarsky Mining and Beneficiation Plant LLC (a subsidiary of IRC) and GPB in December 2018. According to UGC’s analysis, the improved financial performance of IRC and forecasted iron ore prices for 2021 should allow IRC to repay its debt on time under the facility agreements in Q4 2021. In that regard, the early release from the loan guarantee obligations cannot be regarded as material consideration for the sale of a strategic share in a financially viable company.
UGC believes that the Bond terms are ambiguous in relation to the terms on which the Opinion should be prepared. Therefore, even if Petropavlovsk were to receive an Opinion concluding that the Proposed Transaction
we have not had a n update on the tender offer for the rest of the bonds due to close August 11th. Did they manage to repay any more.
Max19 hopefully, all bad news is behind us, so hoping for a better second quarter, and then a strong second half of the year.
Farruggia1967 Could not agree more, this guy should definitely be confined to the filter bin. People can still advise he permanently posts rubbish. Without an audience he would get bored, but as long as people engage with him, they will reap what they sow.
about the closing price always been below the prevailing price causing it to drop on the UT. Interestingly this has not happened last couple of days
Hi Shedulike, Been here that many years, seem to remember things like that. Pity that money didn't come in as would have bought these a couple of days ago. Nice to see us in blue for a change but, plenty upside to come.
Shedulike, the bridge itself, was originally started by IRC, BUT was then sold to the authorities years ago.