Member Info for rustybucket

brand, if you look at my posts over the years there are lots of things which I have questioned. A lot we never got answers to. This company still has massive potential, but we need to clear the decks and unearth answers about some of the decisions that have been made. This takes time, the present incumbents are not responsible for the mess we are currently in. They have inherited the problems and issues and need to sort them. I still believe this company has vast potential part of ongoing future problems has been sorted with the conversions, the next update should give us a much clearer view of the future, and should lead to a large increase in profits, unless someone has been cooking the books.

It will be interesting to see what there plans are for the other bonds and what sort of rate ( if they go for another bond issue ) will be offered. Or might they risk another rights issue and try to clear them off in one fell swoop. Aways something happening with Pog.

There is one thing for certain, if this company does do very well, then so will the directors with their ( Freebies )

Working stiff you are 100% correct, the banks were controlling the finances, we could not even sneeze without advising them. The bond issue was to repay the banks to stop them controlling how we spent our own money, People have there own ideas of what would have been the right procedure at the time, and maybe a rights issue at the time when the share price was above £10 and they were paying a dividend would have been the right strategy and allowed them to raise a lot more money. Unfortunately that is the benefit of hindsight. It will be interesting to see exactly what is going to be offered to the bondholders when they are due.

Another very small buyback, which suggests there are not a lot of shares to be had even at £2 plus. If we get a good update, with real profit, going to be very interesting to see where this goes. Wonder how the unruly purchase, is going ?

I remember years back, getting an e mail back from Alya, when she was in the communications department, She was always prompt and very helpful. I agree it is a very terse statement. Something does seem to have gone very wrong here. I wonder what it is ?????

JRC 1000 Its a little bit like IRC and their ore. They sell it at a discount, how much discount, they don't divulge, as its commercially sensitive information. People automatically think that as the gold price goes up that we automatically make fortunes. We make more on our own stuff, but the concentrate will vary according to gold price and market demand which is why I believe we were going to buy the rest of Temi.

What has happened to that, and what has happened to proposed sale of stake in IRC, or, is that up in the air till board sorted out. Lots of questions, very few answers. Yet.

absolutely impossible to predict unless you know how much third party concentrate is processed and how much they paid.

Its equivalent to the dreamers who were talking about 1000 ounces. Lets wait to see the results, reality is they SHOULD be making very good profits, and reality is, Pavel did say exactly the same thing and how he had turned it around.

I agree a plethora of negatives, Reduced production, reduced gold from poorer concentrate reduced profit, from these, new pioneer flotation plant put back 6 months and higher all in costs.

Not an inspiring RNS. Also a statement advising what I have said previously, we dont make as much on third party concentrate. Where are the people who were proclaiming 1000 Tonnes. And what has happened to the proposed purchase of TEMI ???.

jrlse, I have been waiting for Jam since before the days of Edelman with Blinky. I don't even like bloody jam, I Just would like to see it heading in the right direction.

It does seem, to be a completely different animal and we don't seem to be getting purchases every time results come to cloud the results, I also thing the share buyback, will eventually prove a very shrew piece of business. Usual caveats, Hopefully.

I believe it is the company asking for a waiver of the terms and conditions of having to have the results by a certain date. They are not in default of the bond itself, just some of the conditions so asking for permission to delay in case not ready for late october, although they are expecting them to be. Looking through this it doesn't look like a major problem, although they do keep referring to C.E.O not getting access to certain things. ?? Depending on what they are, That might not be good.

Although I think that might be related to some of the buildings occupied by POG in Russia.

Now down to 6p. Oh for the day, when the company, starts making real profits, and gets noticed for the right reasons.

David the grim, No it didnt, too busy at work at moment too read the posts. Only read it after my post. Jusr trying to get it in my head at first.

Having a think of this last night, I can now see a reason why people might want to convert. They are converting at much lower price than prevailing share price, and if they are having liquidity issues, they might need to release some cash. Probably not a choice they want to do, but maybe a necessity.

I honestly can't see any reason for converting bonds to shares now, there is less protection and loss of coupon.

Anyone who has a few convertible bonds and wants shares in exchange, I will be only too happy to oblige.

In the past swings in POG were widespread and often a 10% swing in a day. I think the also trades controlled the price until whatever was happening was done.

I totally agree, until we get further clarification on board appointments we are in limbo and about a month for update. But as long as there are no skeletons hiding in the cupboard, along with the helicopter, this is primed for a large rise. Not till more clarity though

Maybe the share price has been supported by the also trades that were going through.

Very surprised POG, is down. There is no surprise they have appointed an auditor as they needed one. A little surprised we get an auditor before new appointments.

My opinion was that an appointment of an auditor would have been seen as a positive.. Maybe its a knee jerk reaction as to who they are, or not. ?

Badshah13, yes, I have read it, and I realise that the first post was a comparison between what was happening at GGP and at POG. Personally I think thats like comparing fish and chips as GGP is ( as far as I am aware ) in the very early stages, and POG in the FTSE 250 and been going over a decade.

I dont know how much you know about POG, and I dont want to be rude, buy, there are a lot of things going on which I believe will keep a lid on the share price until resolved and which have been well documented. As for filter, I do use it, but not very much, and you have not stepped into the territory where I think you deserve to be filtered.

I was just making an observation, as the POG board seemed to be getting clogged up with GGP.

I suppose at the end of the day the board has been quiet and something is better than nothing. Best wishes

No disrespect, but if you want to talk about GGP, why don't you talk about it on the GGP board along with the sheep. ?

1Noise, we won't get an auditor unless the board met the requirements, then I would imagine, it should be reasonably easy, as I suggest if they are going to carry out an investigation into past dealings, it will be rich pickings for them as they don't come cheap. BUT, we need this out of the way before we can move forward.