Member Info for rustybucket

Quick question, Has anybody on here actually got bitcoin ???

I must get 15 e mails a day about the crap

drunkinftl. So why is VAT not charged on gold?
Before 1 January 2000 gold sales in the UK were subject to VAT. This changed because of the disparity between rules in the European Union. For example, some countries in the EU didn’t charge VAT on gold at all or charged it at a very low rate. This meant that the UK was at a disadvantage compared with other EU member states. The introduction of the exemption meant that for VAT purposes, gold would be treated the same as other investments, such as stocks and shares.

Lawrence13, there must be a cost to buy and process, it would be nice to have a comparison against what we already have, difference is we know what it costs to process ours as thats the only cost. I would suggest, but I could be wrong that to buy concentrate when the gold price is higher will cost more.

But that is just my thoughts. I don't know. If we mine our own we have an idea of the all in costs and they will not vary much. Third party concentrate COULD and I repeat COULD vary depending on prevailing gold price.

I repeat just for the benefit of a certain poster. I don't know the answer. I do think it will affect operating profit.

Updownflat, are you taking into account the price they are paying for 3rd party concentrate they are buying in ???

Equanimity, I am not as negative on some but there are only 2 scenarios, They convert at the conversion oprice, which puts an awful lot of extra shares into the market, BUT it reduces our debt burden, which of course becomes more manageable as the value of the company increases. Or they repay bondholders, but for that they need to find $125m.

I also believe that the bondholders have the "option" to convert and there are only a few things where we can repay. I will be honest convertable bonds are very complicated and have a lot of "what ifs" Kenj is a bit more informed than me.

I have tried to read the prospectus, but it is very very long and laborious and quite complicated with a lot of jargon. The ony sight worry, is the bondholders have help the company to ransom before. I just hope the company makes enough money to be able to dictate the terms.

He definitely hasnt, and has no intention of doing so. Some are in My SIPP and they are staying there. I have no intention of selling or buying, and as I have said numerous occasions, I see a lot of upside from here.

The higher the price goes, the better chance I can see the total value of my SIPP, which is not large, above the amount I put in. That will rely on POG and another share which has been a nightmare, but, I have no intention of selling any.

If the share goes up to £1 I will stil be here and happy.

Shedulike, are you joking when you say everythings always been open and above board. Were you a shareholder a matter of months before the heavily diluted rights issue, when they proclaimed in an RNS that " talks were going well "

Then the shenanigans with Sapinda. The new board, the acqusations from both against each other, including the terms Pavel was proposing on a loan .

Transparent would not be a word I would use. They always seem to be up to some tricks, including put and call options when getting funding, which lapsed. The one major benefit is Pavel has not got a reasonable purchase under his belt, also, the pox hub is complete which was always going to be a game changer, and the gold price has risen.

If they get it right, it is still very cheap. Emphasis on the if. We still need to negotiate 2 bond maturities including the convertables.

JRC1000, Let me get one thing clear straight away. I welcome all contributors to this board whether long termers, or people who have just invested. I have said many times, I believe there is a lot of potential upside, even from the evels we are at now.

What I like to highlight, is the fact that Pavel and Peter have a long track record of not always giving full truths. Pavel also completely left the scene to become involved ( I believe ) in government in Russia. Both had very very sizeable holdings in POG. Peter lost his through gambling on the gold price, and losingp, ( where the benefit of hedging as the gold price slumped would have been a great advantage, as for Pavel, I dont know what happened to his shares as they seemed to just disappear. We were then told that Peter and Pavel were going to underwrite the rights issue, but this was couded by put and call options which subsequently lapsed and there were some big transfers of shares through different entities.

There is no doubt, in mind, whatsoever, that the completion of the pox hub was the game changer for POG. I just hope it gives us the opportunity to make profits arge enough to expand and repay at least some of the borrowings.

The convertable bonds are going to be the interesting ones,as last time, when people were wondering how it would pan out, they actually increased the convertable bond from $100m to 125m.

In the past POG paid good dividends, I believe, there is no reason why in the future they can not do the same. The worry for me, is they always seem to find something to spend money on. The pox hub will prove to be a great investment although costly. The things they are doing now to Pioneer should reap long term rewards. Hopefully the TEMI deal will be the same. But as Retired Banker put it, why was it reported after a deal had been agreed and not before. And why all the cloaks and daggers.

So in summary, any newcomers I personally welcome you. And there have been many new posters over the years who have brought new information. The reality is, its a discussion board, it is about opinions, and every body is entitled to an opinion. I dont get it right all the time, and sometimes I spend hours on end trying to find additional information.

What I would like, is if anybody, has any more information than the information already posted on the owners of the 25% of TEMI we are proposing to buy. I.E names of owners or directors.

Kenj, Retired Banker, its good to have a bit of Banter. I feel there are a number on here, especially thenewbies, who do not know, or want to know the history of the company. They have rose tinted spectacles and think the sp wil only ever go one day.

In the past this had 7 or 8% swings daily, and there were many rabbits pulled out of the hats. Ant not all white ones.

Peter and Pavel remind me of an old business partner of mine. He never actually told lies, but he never told the truth. He lost people thousands, with his "dreams" He even went bankrupt, but said many people Like Alan Sugar and Richard Branson had went bankrupt and look where they are now. He said you just ned to learn from it.

I just hope Pavel, and Peter have learnt there lessons and steer a course that is a profitable one for us all.

I dont mind at all if they make money, as long as they dont stitch us up again, with massively diluted rights issues and convertable bonds, along with deals where there is very little clarity on what, or who, we are dealing with. Onwards and upwards. Stay safe.

The spelling mistakes are my stupid computer, and not been unable to spell. I really should upgrade.

Kenj, were you, or, ae you, a school teacher, Yes, okay, you got me there again, and I am trying to be better with punctuation marks. Hope its lines rather than detention.

As a footnote, I think Retired Banker is okay, though, I do feel his opinion has changed a bit since he has reduced his holding, but, like me he is always worried about what they come up with next.

I have said before, I will say it again, they managed the company differently, when they both had large holdings until Peter was wiped out by gambling with the gold price.

We do not know, whether them or their associates have convertable bonds as well, receiving a coupon and having a great conversion price.

By the way, Aimtitan, I dont know which rock you crawled from under, but, do not tell me what I can, or can not post.

And Aimtitan, as you majestically call yourself, why are you invested in POG, Pog isnt on Aim.

As for Potatoes. Sold them all.

Aimitan, I havent missed any rise. I like to deal in facts. The facts are, and if you look at retired Bankers post below, and if you know anything about Peter and Pavel, they dont always tell full truths. I have been a sareholder here for over a decade, including times when it was just outside the FTSE 100.

So dont come from oblivion and tell me I have missed the rise, because if they get it right here there is plenty more upside to this/

I just dont, like retired Banker, want this gifted to there pals ( or possibly themselves ) by one of their manouverings.

I would just like them ( for once ) to be open and honest. For once, rather than all the cloak and dagger stuff they perpetually get involved in. If this goes up brilliant for al the loyal shareholders, ( and I expect a large increase from here ) But not if they continually play mates rates to their chums and convertable bondholders.

JRC1000 FROM KRSS POST 6TH APRIL Supposedlt from Pavel to Reuters.

Rusty, on a very bright side, Net debt can fall below $300m level, provided third party third party concentrate has done magic. Full news release ; MOSCOW, April 2 (Reuters) – Russian gold miner Petropavlovsk said on Thursday it had decided to exercise an option for purchase of one quarter of the TEMI project in Russia's Far East for $53.5 million,

" of which 40-50% will be paid from its own cash, as rising global gold prices and a weaker rouble boost the gold miner's cash flow. "

The remaining part of the deal will be paid by issuing new shares of the company.

If shareholders vote to approve the deal on April 16, it will be closed by mid-May, Petropavlovsk Chief Executive Pavel Maslovskiy told Reuters.

The deal with Agestinia Trading Limited, disclosed by Petropalovsk previously , provides several options to exercise it, depending on the timing and the number of new shares for the payment.

"We reviewed our current financial position and decided to pay the cash component in the amount of 40-50% of the transaction to reduce dilution of the current shareholders," Maslovskiy said.

The rise in global gold prices since the start of 2020 and a weakening rouble currency against the dollar amid the coronavirus pandemic and low oil prices reduce Petropavlovsk's costs in dollar terms and raise dollar revenues.

Petropavlovsk, which already owns 75% of TEMI, believes it is important to consolidate the entire project with 4.5 million troy ounces of resources. The company sees "great potential for exploration" at the project's deposits in the Amur region, Maslovskiy said.

Maslovskiy added the spread of the coronavirus and related travel restrictions have not affected the company's operations.

three_fitty, thanks for that, I have tried to find more information but havent found much, I have aso tried your link but that hasnt brought anything else up. Only thing I can see is British Virgin Islands Trust. I might be barking up the wrong path. But, I think I have sen tat before in previous RNS, but as always could be wrong. I just think, there is something about this deal, that is not being disclosed. As I have said previousy I could be barking up the wrong tree, but I would like some clarity, as if we pay in shares, they will be shareholders.

After so many false dawns and false promises I am always sceptical about the motives of the people in charge.

aimtitan, if you read the news from pog you would have seen the statement saying they had the resources to pay 50% in cash. As for cash is King, I wish, we have a large debt burden in the form of 2 lots of bonds one convertable totalling about $625m dollars, and if the convertables are converted will lead to dilution of existing shareholders.

So cash is king. I wish, that has been POGS problem for years, Not having enough free float cash, which is why they sell forward priced gold to Gazbrobank to receive cash.

They havent got the cash, they have already admitted that. It was stated they have the cash to pay for half of it. I dont know why they dont just go to Gazbrombank ( or whatever they are called ) and get them to pre - buy some gold like they have done before.

I agree, my preferred option would be to pay in cash, I would also rather have a small rights issue to raise te cash, giving existing shareholders the option to stump up the cash rather than pay for it in shares. I still dont know ( but would love to know who are the owners of this 25% who are going to get shares. Why is this NOT public knowledge ??

I did say, I couldnt believe they were holding a meeting in todays environment ????

We are in a situation where it is how long is a piece of string. Everything relating to this proposed purchase should be put off until we have a clearer picture of when some sort of normality will return. All my umble opinion of course.

On a lighter note. " Well done Captain Tom "

Lawrence13, yes that is the case, but, some people on here think than if gold goes up massively, then we make a massive profit on all the gold.

That is not correct. It will be on the stuff we mine ourselves, but it depends on how much we are having to pay for what we buy in. I would imagine that it would be a reasonable profit, but not quite the same if it was our own. The benefit is it uses spare capacity in pox hub, until the time when we have enough of our own to not need other peoples then that wil make us even more competitive, which is maybe why they are purchasing Temi. But, as I have said before, and you well know, this is POG and it is not always exactly as it says on the tin.

So Lawrence13 last years Gold sales

39% increase in total FY 2019 gold sales to 514.0koz (FY 2018: 369.6koz1) due to the processing of refractory concentrates in the first year of operations at the POX Hub

471.6koz of the total FY 2019 sales amount represents gold sold from the Company's own mined production, an increase of 28% on FY 20181 and in line with the Company's guidance of 450 - 500koz

Gold sales from third-party concentrates totalled 42.4koz for FY 2019 Now next year we are expecting to process a lot more of this "concentrate" so what profit will we derive from that ??