Member Info for rustybucket

Did anyone see Dragons Den last night. A guy who was selling a share of his business which aims to stop google tracking them. But if they signed up they would receive selected ads specific to them and be paid for the privilege of getting these adverts. Peter Jones and Tsuki invested, was that not similar to what PERK used to do ?? Thoughts anyone.

Farrugia1967, I read an article about the people who were supposed t be interested in buying Newcastle, the PIF a saudi wealth fund, that they have literally billions to invest, as they try to diversify from oil.

If they see Tremor as a good play then hopefully, lots more to come.

Updownflat, I don't mean to be rude, But do you live on Fantasy Island ??

If a company has debt that is guaranteed by another company, then what is DOES NOT !!!!! Is pay dividends. It repays its debts and releases the guarantees dog has given and both companies start to flourish.

I thought you said you were an accountant. ??? It doesn't matter what the market cap is, its the profit it generates, and up to now IRC has only just started repaying those debts, never mind making big money.

JRC100, No I do not think that Pogs price is relatively high , compared with CEY based on CURRENT performance of both companies, and it includes a premium for possible future performance.

I think exactly the opposite, I think Pogs share price is considerably undervalued compared to CEY, because we have a POX hub. Look how much money and time it is costing Polymetal to make a second Pox hub and that might give you an idea what is missing from pogs share price. A premium for having a pox hub, which CEY couldnt build even with their cash.

So I thing POG has much much more potential than CEY.

will do tonight after work cheers SNN.

KRSS, thank you for posting about IRC JUST CHECK AND PLEASANTLY SURPRISED TO SEE

0.275+0.025 (+10.00%)
At close: 4:08PM HKT

So , it does look as if they are making a bit of a comeback. It really would be great to see IRC DO WELL. And to think Pavel was looking to virtually give it away, which I have posted many times the I though was ridiculous.

JRC1000 I totally disagree with your analysis. I will also tell you why. CEY, Has been making profits for year , debt free, and plenty of cash in hand.

POG, however is totally different, because they have a lot of debt, BUT, That was only that was spent on the POX HUB, There is an abundance of refractory ore in Russia, and once POG, has the pioneer plant up and running , hopefully, in the second quarter of this year and a third next year POG, will be in a much much better position.

I don't know what value is put on the pox hub, but, it must be hundreds of millions.

Fast forward a couple of years and I would expect POG to have a least 50% per cent more, if not double the production of CEY.

For that reason I would expect more upside from POG than CEY, simply because CEY is already delivering whereas I would expect POG to be able to increase profits markedly.

Of course I am biased as I hold shares in POG and I do not hold shares in CEY, BUT, on simple fundamental I see more upside in POG. Of course that could all change as CEY have a nice archest, but its what they do with that that will see if they can grow further.

It will be very interesting to see the fundamentals in 5 or 6 years, because I think POGs, will look vastly different in 5 or 6 years. They do NOT make great reading now, especially if you look back 5 years plus, but, hopefully the leaner times are behind us.

Hi share nicely now that is coming up 404 Not Found

nginx

Can you please re-post thank you.

I could tell you a story about chalk, which means I am a little wary of chalk as well, but I won't bore you. Never tried eating chalk ( lol )

KRSS, Big difference between CEY AND POG, is CEY have a history of making money, debt free and $331m in cash.

POG has a history over the last 10 years of Jam tomorrow, we need to see a consistent profit, with debt reduction, and share price will reflect this.

I remember posters on here positioning telephone number profits and production, we are a long way from that.

At the moment it is like comparing chalk with cheese. Incidentally I don't like Jam or cheese. But we need POG to start producing "real" profit consistently, the rest then just slots into place. Personally I think we are a long long way from being a 4 Billion company. But in order to do that we have to raise production, raise profits, and reduce debt.

Updownflash, the cash situation isnt great,because it seems as soon as POG get some money they spend it, on either exploration, concentrate or something else. I do believe the cash situation is markedly better than the recent presentation simply, because they have alluded to that in the presentation. The unknown factor, is my how much. We have also paid back another bit of the gold pre-pays. One day, hopefully within the next 12 months we will start to see the cash balances increase, unless they try and avert having a new bond issue and start trying to repay similar to the IRC financing.

Hi shedulike, unbelievable that people keep coming up with negatives about POG, Thats my job lol, The one thing I can accuse the new bod about is putting a very good update explaining what was happening, without advising people that this was available on website.

I have been impressed over the years with the depth these reports go to, and I agree, there is that much going on that they can not RNS every little detail.

They can advise of the availability of this as and when it is ready. It would also be nice to get a breakdown of the financial calendar, as it is nice to know when things are happening.

Personally I think investor relations has gone downhill over the last 12 months, but we do not know whats going on in the background. I still see huge potential here, as long as we can come through the bond refinancing next year, but, it looks as if gamprombank are being supportive, so you never know, they might not issue bonds if they can come to a further arrangement with gazprombank. At the very lease we should see a reduced coupon rate maybe cutting the interest in half which would save us $20m per year alone.

Lawrence13, I do not think you are so stupid, as not know this answer because it was explained yesterday in the RNS.

Majority of the deficit is the third party concentrate with " lower margins"

Quarterly output was reduced year-on-year due to lower production from Albyn, where mining has moved to the nearby Elginskoye deposit, and as a result of processing lower volumes and grades of third-party concentrates at our POX hub. In the second half of the year, we anticipate higher output at Pioneer, following the commissioning of its new flotation plant in Q2, and a potential increase in third-party material.

I continue to work with the new management team on our extensive business review that we hope will lay the foundations for the Company's future growth. This review has already delivered a revised management structure that is nearing completion. It will also evaluate the Group's development strategy that we expect to complete in Q3 2021, with the results to be shared later in the year."

Operational Highlights

Gold Production and Sales

§ Q1 2021 total gold production of 95.6koz, a decrease of 49% compared to Q1 2020 (186.2koz)

? Own mined gold production amounted to 82.4koz in Q1 2021 (Q1 2020: 102.0koz) with marginally higher Malomir production offset by reduced output at Albyn and Pioneer

? 3rd-party concentrate gold production decreased to 13.2koz in Q1 2021 (Q1 2020: 84.2koz) due to expected lower volumes of concentrate available for purchase and lower grades in the concentrates supplied

Funny enough, I can not remember you quizzing when output reduced under Pavels watch when he came back, and then later in year boosted production in quarter to 4 to "exceed"HIS revised targets

what do you mean UDF ??

A good post shedulike, I would suggest people who don't understand this, take a few minutes to read and understand exactly what is going on, before, spouting utter rubbish. And just for clarity, By spouting utter rubbish, I am NOT referring to you, ,Lawrence 13.

Lawrence13, for what its worth, I will give you my take on your observations,

Problems:
- Incompetent management I have already made my thoughts clear on the new guys performance up to now, but it is early days and we do need to give them a chance. But If you compare these to Peter and Pavel, these have NOT nearly brought the company to its knees. I commented many times on what I deemed, either incompetence, or events or occurrences that just did not add up. I know Peter and Pavel had an influence on building the pox hub, I also know there were a lot of negatives as well. So Jury is out on that one, but, apart from communication there is nothing to suggest they are any worse, unless YOU Prove different.
- No trust in management by staff, That is heresay, where is the proof ?? Apart from an interim CEO being denied access to a building we owned

- third party concentrate suppliers don’t trust the company or its owners Absolute load of rubbish, They need us, more than we need them.

- nothing being spent on exploration. We are spending money on the Pioneer flotation plant , look at the cash in hand, we have not got masses for exploration at the moment as the priority is the flotation plants.

- Strukov on site fighting fires." Ridiculous quote, Stukhov, has a boatload of refractory ore he wants processed, if he was in charge, you can bet your bottom dollar, he would be getting it processed on the cheap. Reality is he is not.

Lets just remember, he isn't the owner, he is a large shareholder. I and other people who hold shares or also shareholders, the only benefit he has, is he has more voting rights, it does not give him any more decision rights than you or me.

There is a board of directors, I believe, he has 1 representative, the board is being increased, that will give him even less influence.

That some people on this board come on the board, and start writing about things they know nothing about.

Some of the things that people are complaining about have been mentioned in RNS, and presentations. It has been clear for a while that pioneer was going to be used for a processing plant for the pox hub. There was going to be new mines coming on stream, they give indications of the resources we have, where they are located and the expected lifespan of these.

There are resources for decades, and also resources that have not been discovered yet.

The pox hub doesn't jus work on its own, it needs feeding. And for it to be fed the concentrate has to be processed, that is why we are building 2 more of these processing plants, one hopefully up and running in quarter2.

The only thing that I would ask, is why did we stop building these over the winter, as the first one would be ready now, but, it could be as simple as the weather factor, because I am not an expert on these things.

What is clear, is POX, has hurdles, it always has, but the fact that Gazprombank, is happy to extend credit at 3 - 4% approx , hopefully, bodes well for the repayment of the bonds.

It would be great to refinance these at half the rate we are paying now, and would be even better if we had the opportunity to repay capital as we go along, A bit like the IRC facility.

As for concentrate from third parties, In my opinion as according to the bod, Third party concentrate is " at lower margins " so third party concentrate should always be either a last resort, or the icing on the cake.

I would suggest that before anybody else posts without research, they visit pogs website, there are some very good presentations which explains all about the processes the reserves etc etc, before posting unfounded rubbish.

Freddie2, I understand your frustration, I feel exactly the same way. I also understand the way you feel about the promises, false dawns and lies. I have commented on that many, many times, and asked the questions.

The biggest lie was the one that Peter and Pavel told us, about how the bond negotiations were " going well " before we were " forced " 15.7 for 1 rights issue.

I still maintain, things would have ben very very, different if Peter had not gampled on the gold price, and lost his holding by doing the same. We then had the shenanigans of them stating they were underwriting the issue.

I could go on and on, but, I will not, simply, because Dennis and his crew deserve the chance to prove their worth.

Things are in place for POG to be a very profitable gold miner, Unfortunately its still, Jam tomorrow for now, and still hurdles to be overcome.

Lawrence13 There will be 1 pox Hub. I dont know where you get the impression there are 2. 1 only which took decades to build so in order to get another one, Thats 2031 ( lol )

Lawrence13, you really need to read RNS more carefully and the updates the company produce.

We have 1 ( ONE pox Hub ) Before doing what nature takes 100 years to do the ore must be processed. This is where the problem is, at the moment we only have 1 processing capability. Pioneer is being upgraded to build a second one, then a third next year.

That will be 3 times the refractory ore the we will be able to process n the POX HUB.