Member Info for rustybucket

Updownflat Pavel , Where did the 190,000,000 shares go before he bought the 17,400,000 in December 2019 his only shares at the time.

My suggestion he never actually owned them as he BORROWED THE MONEY and took out put and call options which also expired. So presumably there were sold and maybe ended up in the hands of Strukhov

30-Dec-19 30-Dec-19 Buy Pavel Maslovskiy 13.00 GBX 17,400,000 17,400,000
06-Jul-17 30-Jun-17 Notification of Holding Peter Hambro 0.00 0 0
09-Nov-16 09-Nov-16 Notification of Holding Pavel Maslovskiy 0.00 0 190,774,346

Updownflat, Please answer this question, When did Peter sell his ( supposed shares) because as far as I can see they both borrowed money for the rights issue ( probably from AVB Bank which Peter had a vested interest in ) both took out put and call options which expired, so I am not sure Peter actually owned any shares other than those which he might have been given like the new CEO has been incentivised.

Peter lost the majority of his shares when he put them up as security on betting on the price of the gold price years ago.

So please provide your evidence ??

Don't eat Yellow snow.

yes I agree, POG should only process third party concentrate if it suits us, in excess of normal production, and at a commercial rate.

If they don't like it tough. We are not a charity, and are in a very very competitive position.

updownflat, I would suggest any takeover of pog would be well in excess of that. If it ever happened I would expect it to be at a large premium to the prevailing share price. It cost a billion or so overall, to build the pox hub ( I think ) then there is the reserves etc etc.

Can they return $1.5b in cash ( If I read you right ) in my opinion, not a chance. But they should be able to pay the gold pre-pay outstanding, that you missed out, repay part of the bond maturity, and have a mother bond issue at a considerably lower coupon, which they then should be able to repay within that 5 years ( assumed ) term and be virtually debt free within that timescale at the IRC guarantee will be gone by then as well.

That would be a completely different ball game, and if they achieved that, share price might then be starting with a £ sign in front of it.

They would also have to take on the $500m bond repayment as you point out

jrlse Don't leave the board just use the filter button and have dialogue with people you know can, and will have a reasoned conversation.

Has deputy dawg slept in today ?

Yes Jrise, totally agree, when I talked about not being on his own, the aforementioned were filtered months ago for exactly the same reason. I will refrain from mentioning it. Apologies Rusty

Probably, because they have a load of ore that they can not process. POG with the capabilities of the pox hub are in a prime position to do that. Maybe wanted it on the cheap, rather than at a commercial rate.

Also they have been very strong on wanting dividends.

sorry, there is nothing to admire about stt1. And anyone who does admire him, needs to see a physciatrist.

Lawrence13, it doesn't make sense, if they are virtually bankrupt, how the hell can they afford to buy shares.

Also I don't know if you know it, but if they get above 30% they have to have a mandatory bid anyway, and where would they find the money for that ??

I would suggest there is more chance of Pavel ( if he gets out of jail ) getting some of him mates to try and get back in later this year,

On a totally different vein, I agree with you about the vision of Peter and Pavel, because without their wisdom, in building the pox hub we wouldn't have a chance of increasing the share price from the subdued levels they are now, just a pity we were forced into near bankruptcy by doing it. Onwards and upwards. Hopefully.

Hopefully not, all a dividend does is take money out of the company, not needed ( in my opinion ) at this stage of development.

The buy back of shares is a much better use ( in my opinion ) of any spare cash we have, Would much rather have growth in share price than a dividend.

All my opinion and I am sure my friend mr Gdog will concur.

for the filter button

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This message has been filtered, please adjust your filters to view Peace and quiet, I love it.

Yes, during lockdown, it is quite got how amazing how quickly time goes by. Blink an eye and its nearly the middle of February.

But of course, you know better ( Ha Ha )

Uptownflat, you disagreed with my reasoning on the share price, calling it ludicrous.

This is taken from the tremor ( TRMR) BOARD.

algo trades are used for many purposes, not just trend chasing or short term trading. Institutions also use them to hide big orders by splitting the orders into many small parts (in theory to 'minimise' the effect on the market price). Who knows what is really going on? As SB said - make of it what you will.

Not prepared to guess the SP movement on Monday, or even Tuesday. But I would guess at it being up on the next week, and thereafter (weekly) until results.

More on algo trading from Investopedia:
"Algo-trading is used in many forms of trading and investment activities including:

Mid- to long-term investors or buy-side firms—pension funds, mutual funds, insurance companies—use algo-trading to purchase stocks in large quantities when they do not want to influence stock prices with discrete, large-volume investments.
Short-term traders and sell-side participants—market makers (such as brokerage houses), speculators, and arbitrageurs—benefit from automated trade execution; in addition, algo-trading aids in creating sufficient liquidity for sellers in the market.
Systematic traders—trend followers, hedge funds, or pairs traders (a market-neutral trading strategy that matches a long position with a short position in a pair of highly correlated instruments such as two stocks, exchange-traded funds (ETFs) or currencies)—find it much more efficient to program their trading rules and let the program trade automatically."

https://www.investopedia.com/articles/active-trading/101014/basics-algorithmic-trading-concepts-and-examples.asp

Lawrence13, I don't think, the performance of IRC is down to Peter, It is more about the increase in Iron Ore price ( in my opinion ). The other thing is if it is doing so well, why was Peters, supposed best mate, Pavel, looking to offload it for half of the prevailing price at the time. And, if it is really doing as well as suggested, why, oh why, would we want to sell it.

All this seems very very fishy to me. A bit like when Peter and Pavel announced " they " wee underwriting the rights issue, yet Peter has openly admitted he has no shares ??

I said many years ago, if they had skin in the game thats fine, but Peter lost his shares gambling on the share price years ago.

I believe, I could be wrong, if he hadn't lost those shares he would have fought long and hard to stay at the hem of the good ship POG. The reality is, unless some semblance of order is achieved an we have a clear defining path, we are going nowhere, and its hard to believe any of them and they all have there own agendas.

WHY WASNT THIS PUBLISHED AS AN RNS ?

POSITIVE PROFIT ALERT !!!!!!!!!!!
Thursday, 4 February 2021: This announcement is made by IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”; Stock Code 1029) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions of Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The board of directors of the Company (the “Board”) wishes to inform the shareholders of the Company (the “Shareholders”) and potential investors that, based on the preliminary assessment of the Group’s most recent unaudited consolidated management accounts and the information currently available to the Board and before taking into account any possible adjustments (including but not limited to provision for assets impairment losses or reversal of assets impairment losses) in connection with the finalisation of the annual results of the Group for the year ended 31 December 2020, the Group is expected to record a profit attributable to Shareholders for the twelve months ended 31 December 2020 of between approximately US$20 million to US$26 million (corresponding period in 2019: net loss of US$38.7 million).
The Board considers that the expected turnaround in the Group’s financial performance is mainly due to the following factors:
i) The successful ramping up and operation of K&S. The mine operated at a production capacity of 87% in 2020 (2019: 82%);
ii) The selling price of K&S’s product was determined with reference to the international Platts spot price of iron ore concentrate. The average Platts spot price of 65% iron ore concentrate in 2020 was c.16% higher than that of 2019;
iii) The operating costs of the Group are mainly denominated in Russian Roubles. The Russian Rouble depreciated during 2020 and the weakness of the Rouble has a positive impact on the profitability of the Company; and
– 1 –
iv) The Group had an unamortised borrowing cost of US$11.5 million relating to the ICBC loan which was fully written off in 2019. The Group does not expect to make a similar write off of unamortised borrowing costs for the financial year ended 31 December 2020.
The information contained in this announcement is based on the preliminary review and assessment by the Board with reference to the latest available financial and other information, and such information has not been reviewed by or discussed with the auditor of the Company. The actual financial results of the Group for the twelve months ended 31 December 2020 may be different from what is disclosed in this announcement.
Shareholders and potential investors of the Company are advised to read carefully the annual results announcement of the Company for the year ended 31 December 2020 which is expected to be published in March 2021, and the subsequent publication of the 2020 annual report of the Com

rbrand, I have also not sold ONE share, in fact I bought some more and posted that I had. So don't know where you are going with your postings. ?? And I will post what I want, when I want. If I want to sell, I will, but have no intention too.

So thanks for your advice, but, I only need that if I ask for it, and I have not.

brand, I never said I was worried, unhappy with the state of affairs, but, worried, NO,

in English On February 12, the Tverskoy Court of Moscow will reconsider the petition of the Investigative Department of the Ministry of Internal Affairs of the Russian Federation to arrest Pavel Maslovsky, a member of the board of directors of Pokrovsky Rudnik JSC, one of the country's largest gold miners. The new process was needed due to the fact that the Moscow City Court found technical errors in the decision of the court of first instance, which had already sent the industrialist to a pre-trial detention center.

On February 12, the Tverskoy court of the capital will consider the petition of the Investigative Department (SD) of the Ministry of Internal Affairs to choose a measure of restraint for Pavel Maslovsky. This decision was made by the Moscow City Court, which canceled the order on the arrest of one of the largest gold miners. At the same time, the claims of the IGU were rather technical - it was about typos in the minutes of the trial of the court of first instance, to which the lawyers drew attention.

Oddly enough, the main complaint was that the investigation spelled the initials of the defendant wrong.
The founder of one of the largest Russian gold mining companies Petropavlovsk, Pavel Maslovsky, was arrested on his birthday, December 25. On the eve of the arrest of the gold miner in the office of the enterprise, as well as in the apartment and the cottage of the businessman near Moscow, employees of the "K" department of the FSB, who are conducting operational support of the case, conducted searches.

The decision of the Tverskoy District Court was standard: the defendant had to be in a pre-trial detention center for two months. According to the plot of the accusation, the businessman is accused of embezzling almost 100 million rubles. owned by Pokrovsky Rudnik JSC, of ??which he is a member of the board of directors. The mine is the main asset and part of the Petropavlovsk gold mining technological chain. The deposit is located in the Amur Region, three years ago an autoclave-hydrometallurgical plant was launched at the mine, one of two autoclave gold production facilities in Russia.

Interestingly, a criminal case on the fact of embezzlement on an especially large scale (part 4 of Art. 160 of the Criminal Code of the Russian Federation), within the framework of which Mr. Maslovsky was arrested, was initiated by the investigative department of the Ministry of Internal Affairs against two former shareholders of Pokrovsky Rudnik JSC.

The second person involved in the investigation is not named, and judging by the fact that the investigation did not come out with a petition for his arrest, most likely he cooperated and testified against his companion.
The case file refers to the events that took place in 2018. Then, according to the SD, the defendants stole the assets of the mine worth more than 95 million rubles. Criminal, according to Kommersant, the investigation considers the sale and purchase of the company's of