Member Info for rustybucket

I agree, its uncertainty, but, personally, I don't se anything negative coming from that. At least thats the way I see it. There have been rumours for a decade of things being done at "mates rates" prime example is IRC SELLING PRICE, THE INITIAL DEAL WITH Temi, the convertible bond issue, then the re-issue with a further $25m, the prepaid gold to gazprombank, The bond issue interest rates, and the fact that Pavel was accused "of getting a bung for negotiating an inferior deal" now, all this is speculation and there will be others that I have not thought about.

It would be interesting to be a fly on the wall with the discussions on the bondholders before the rights issue, then there the rights issue itself with Peter and Pavel "supposedly" underwriting it, what was that Beatles song, with a little help from our friends and then there was the put and call options which eventually expired before Peter took up the rights. Plus there will be loads we do not know about. It has been mention about subsidiaries and we know very little about the supposed transactions that have gone on there, so plenty to look at. Hopefully a positive resolution that means we can continue to grow, and that any outcome is worth the millions of pounds it will undoubtedly cost as these things do not come cheap.

Likewise, You know when the sad one is posting as people respond.

This business is totally different from the previous business,, It is like comparing chalk with cheese. Onwards and upwards, let the companies performance do the talking and long may it continue.

New yesterday HAD to have an effect, its closer to getting compliant on board numbers. And a new CEO with the relative experience had to be a positive thing. Bet he is rubbing his hands at the possibility of being hailed a hero for massive increase in profits, when the seeds have already been sowed.

L3 Trader, this is an ever changing business, a lot of the weak have perished or been gobbled up. This company has a history of making profits which is why the cash balance normally increases it has paid dividends and has done buy backs.

This is an area that has been talked about for years, hopefully its here for the foreseeable future, but you can bet your bottom dollar they are also looking to the future.

Nice to see some real positivity, Great to see the share price reacting as well. This could be massively re-rated once people realise that it is heading in the right direction and making real profits, and the share buybacks the company made could become a very very shrewd investment going forward.

Must admit, on face value, looks good, surprised it hasn't had a more positive effect on share price.

L3Trader, they have sold to much of there production at a discount to the price, Why the hell they do it is anybodys business but, they then say they cant say the price they are selling at, as its "commercially sensitive "

Updownflat, we dont have enough of our own reserves ready for processing, thats why we use third party.

Thats why they were pressing ahead with the plant at pioneer which the new bod have put back.

27-Nov-20 16:35:01 27.20 4,935,674 Buy* 26.50 26.60 1m UT Rescued the day, need this to get back on an upwards trend

Uptownflat, I am not on here to argue with anyone, but, I think there has been a lot said about the convertible issue by a lot of people who do not know the full facts.

Reality is we have a bigger issue to get over which is the bigger bond issue. They should be able to repay some of that and refinance at much better rates than previously, they should have people falling over themselves to lend the money the way rates are. Time will tell but if we can repay some and refinance the rest that will be even more interest saved which will hit the bottom line. No reason why this company can not be debt free within 5 years ( or before ) depending how the bonds are refinanced.

uptown flat you miss the point. The share price was considerably lower when the bonds were about a year away from maturity, there was no GUARANTEE they would convert,

New convertibles were issued at a higher convertible price, than originals. Big negative was to issue extra £25m dollars. mucgu

dont be ridiculous gold hasnt been at this price for years and the reason POG got into the problems initally was hambro gambling on the gold price and not hedging.

Yes Freddie2 I appreciate exactly what you are saying, the people who were in at the very high levels could only recoup there losses if they were able to take a good part of their rights.

Problem at the moment is we don't know exactly whats going on in the background, but I do think that once this investigation is complete, it will at least give some clarity,

I still think, that as long as there are no more shenanigans, that in year ahead we will look back and think it was cheap at this price. I certainly think your 70p is reachable although I would not like to forecast any timescales on that.

Freddie2, Have you seen me posting I am in profit, ? I am not, but, as I have alluded to I had 3 different holdings of POG, 1 IN A SIPP, 1 IN a direct investment and 1 in an ISA. I Intended and thought ( foolishly ) that I had took up all my rights, I never checked my holdings for years, as I didn't want to see the values, when I eventually checked I realised that on one part of the holding I did not take up the rights, this was a total shock to me, I was sure I had, But I had only taken up the rights on 2 parts.

I have never sold a single share, I did recently buy more on the drop, I do intend to keep those along with the others I already held.

Some people on here talk in telephone numbers, whether we believe or not is immaterial we will never know.

What is important is that the ducks start to line up, there are a number of hurdles to be overcome.

It would be a good idea ( in my opinion for new bod to give an update on where we are with things, such as TEMI, IRC, future strategy towards maturing bonds ( not the convertibles because they will take care of themselves ) how we are going with the prepaid gold repayment, etc etc.

Updownflat, the convertibles are not the major issue, in my opinion, its what they do with the larger issue and the way they deal with it going forward. Thats the one where we are paying a high rate and its a large issue, so costing a lot to finance.

What do they do, look at another issue, and if so at what coupon rate ? Do they try and repay some and have lower issue, Do they try for alternate borrowings to repay in full, a lot of decisions to be made, the convertibles were always a different story as it was always likely they would convert based on the terms and conditions issued at. Time will tell.

Freddie2 its ludicrous to say that some longterm holders are not in profit.

Lawrence 13 should be in profit. Retired Banker is definitely in profit and so will a lot of others, but, that would have been taking up nearly all of your rights if you had the money. I will admit, I DID NOT take up all my rights because I made a mistake, I did take some. But that was my problem, and not because I do not believe in the company. I do. And still do.

For years I mentioned things on this forum, that just did not seem right, Kenj and Retired Banker and others also mentioned the same. I did not go as far to say that Peter and Pavel were crooks, but, They did not also tell the full truths especially during the rights issue, when there was all the nonsense about them underwriting the issue. Then there was all the RNS about put and call options and such like.

As a matter of fact, I would have preferred it if Pavel had not gone, I still think he was the best person to lead this company forward, but, I remember when Sapinda were trying to get the company on the cheap they advising how Pavel proposed a bond issue, but he was supposed to be getting millions personally for sorting it out at a higher rate than was available. Now that is heresay, and no doubt some of the things that will be looked at.

I want this company to do well, but, I have posted for months now, that it wasn't without risk, thats a risk I have been prepared, and still am prepared to take, but, just as I didn't post every couple of days of how well the share price was doing when it went up, I won't complain when it drops again, because thats shares. I have made my decision, I don't get all decisions right, but I will blame nobody but, myself if this goes wrong. As we all have the buy and sell button, if we don't like it we get out, and if we think its undervalued, and we have the cash we buy.

I just hope that any investigations are done A.S.AP and that we can get some sort of positivity, because the one thing I can say, is I can not remember one positive RNS since the new bod took over, but the mess they were left with was not of there own volition as it was the shareholders with a very hefty majority who voted for this investigation.

Freddie2 , it can happen by putting some clarity into things, and who's to say money hasn't been siphoned off into these offshoots and is still there. Who knows, but I am not persistently posting about a dropping share price.

I said weeks ago, for anyone not happy sell. P.S I didn't see you perpetually posting about the share price when it rose from 5p to 40p This is a share not a lift that just goes up, more like a roller coaster. Or at the moment a slide. But the reality is the company should still be in a very good position. Thats factual.

Uptown flat, not according to the runs the RNS said they had nothing previously

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