Member Info for rustybucket

Hairy davey not a chance !!!! They need to find the money to refinance bonds, so forget any dividends in the short term, we might yet have to ail out IRC as well.

is this the transaction related to amir region ? Smaller Related Party Transaction
Mon, 23rd Sep 2019 12:22 RNS Number : 3122N Petropavlovsk PLC 23 September 2019
Petropavlovsk PLC Smaller Related Party Transaction In accordance with Listing Rule 11.1.10R(c), Petropavlovsk PLC ("Petropavlovsk" or the "Company") announces that as disclosed in the Company's Half Year Report issued on 10 September 2019, it has entered into an option agreement with Agestinia Trading Limited ("Agestinia"). Agestinia holds a 25 per cent. interest in TEMI LLC ("TEMI"), a 75 per cent. owned subsidiary of Petropavlovsk which in turn holds licences for the Elginskoye Ore Field and Afanasievskaya Prospective Ore Area. Whilst there is currently no production occurring on the licences at the Elginskoye and Unglichikanskoye deposits they hold a substantial amount of non-refractory reserves and resources which are suitable for processing at the Company's resin-in-pulp plant at Albyn. The option agreement entitles Petropavlovsk to purchase, at the Company's discretion, Agestinia's 25 per cent. interest in TEMI. The option price is US$13.0 million to be paid by 18 November 2019 (the 'Option Price') and upon payment of the Option Price Petropavlovsk will have the option to acquire Agestinia's interest, conditional upon any regulatory consents or approvals being received (the 'Option'). US$7.0 million of the Option Price was paid to Agestinia on 29 May 2019. At Petropavlovsk's election, the remainder of the Option Price (US$6 million) may be paid in cash or Petropavlovsk Ordinary Shares at a fixed price of 8.26 pence per Ordinary Share. Subject to payment of the Option Price, the exercise period for the Option is 730 days from 22 May 2019. The exercise price of the Option will be: US$60.0 million; or US$53.5 million if the Company exercises its Option on or before 20 May 2020. The exercise price for the Option may be paid in whole or in part in Petropavlovsk Ordinary Shares using a monthly average price. As Agestinia is a substantial shareholder in a subsidiary undertaking of Petropavlovsk, it is considered a related party of the Company for the purposes of Listing Rule 11.1. The entry into the option agreement is a transaction which falls within Listing Rule 11.1.10R (modified requirements for smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c). Should Petropavlovsk determine to exercise the option, it is likely that the transaction would constitute a Related Party Transaction under Listing Rule 11.1 and, if it does, it would require, inter alia, shareholder approval. As at 30 June 2019, the Company recognised a US$9.2 million fair value gain on the Option, based on a valuation undertaken by an Independent Expert. The combined TEMI licences cover an area of 1,013km2 where extensive alluvial gold deposits remain.

KRSS, Why oh why would they want to increase stake in IRC. And if they were to increase stake would they not have to make a mandatory offer. In my opinion we have a big enough stake already and dont need their debt burden as well as our own.

Kent Agreed it would mean dilution, but it would be a company with a higher market capitalisation and very little debt.

For me it totally depends on the price they would be issued at. Its never as simple as it seems with POG. All those posts from people saying they are to make hundreds of millions they can produce more ore etc etc. If only it was that easy. And no mention of the other transaction that would need to be paid for if it went ahead.

I dont think the share price supports the notion that stt1 is WRONG. The share price of this company including RTHM1 and all the companies they bought is no where near the price of the old blnx on its own and this company supposedly is all set for the future.

Heard it all before. I want to see compelling profit first before I believe.

orphans not orphaans

Nice Rise, I must have missed something there. Until the problems are sorted, not for widows and orphaans, and shareholders rarely come out of these things well.

They will, but its an option, they dont have to buy it. In my opinion the details have been very sketchy, I believe Peter and Pavel already own this and I cant fin anywhere when they acquired it and for how much.

As normal, I could be wrong just my remembering of what was initially proposed.

Mrbond007, Eternal Optimists !!!!!, some people have been invested in this share since it was more than £12 so 11% is chickenfeed, sorry, In the olden days POG sometimes had swings of 11% in one day. If you are in for the long term you wont be sdisappointed, eif you are a day trader its never been one for widows and orphans.

Costs per ounce going down, Please provide proof, volume going up, volume is only going up because of the ability to either buy in other peoples ore or process for them at a profit, debt going down, WHERE has debt gone down in the last 10 years ??? we increased debt last time the bonds matured and I believe we had an extra 25m added. cashflow going up, as long as we have the gold to process and gold stats high, it should, but them they are doing more spending and still have the "deal " with Peter and Pavel that they need to pay for going forwrd, £ratio's going to normal, IP built and in place providing a steady gold production. A lot lower than they used to produce. Dividend declaration imminent. ?? when have they said they will reinstate dividend, I must have missed that one, we need to repay debts before thinking of dividends Board stable. Not sure we can guarantee that as we have just lost a director of the highest shareholder, and no doubt the new high shareholder will want some say on the board FTSE listing. Yes we have a FTSE listing but, I dont think that is anything to write home about, WRN had a FTSE LISTING, LOOK WHERE THEY ARE NOW, Extremely undervalued. On this I wouldnt disagree, On the condition that we get everything right, which hasnt always been the case in the past. I also notice you fail tometion IRC.

Likewise, and life is so much better without the mental torment this share and he/or she brings

Lawrence13 they could have been held as a security by VTB For loans owed to them. Maybe with the increase in share price it has allowed them to repay all the loans with VTB so shares were not needed. A little bit like the IRC shares us and Gazbrobank

OOPS sorry for typing at work and typing quickly and KVZR beat me to it.

rETIRED bANKER, i DONT THINK IT WAS CONVERTABLES i THINK THEY OWED MONEY TO VTB BANK AND GOT THEM BACK FROM THEM. pROBABLY HELD AS SOME SORT OF SECURITY FOR BORROWINGS.

There could be a number of reasons why Aeon sold their stake. Not least the fact that they have made good money out of it, and it could be that the profit they have made allows them to do things that they did not think were possible.

But probably nothing that we will ever be privy to.

Shedulike, I dont see why you should get stick, for having an opinion. If we all had the same thoughts what a dull life it would be.

TheDonofDons, you can sell without a discount if someone is desperate to buy, especially if someone is looking to take a controlling stake and cant get the shares elsewhere.

Shedulike I have not disagreed, in fact the reference to gold is not a bad idea. I dont think that will massively effect share price because its what the company does and the profit it makes that ultimately counts. I also think market sentiment also has an affect, and some people have been badly burnt by the people at the top not being 100% truthful with some of their comments in the past. I did not know that Petropavlovsk was a city in Russia I just knew the company was named after the founders.

Yes its often done. Mostly done when takeovers etc are happening, and sometimes even with these large trades brokers are still involved. As 2227 alludes, it is likely that a premium would be paid as it would be virtually impossible to buy these individually in the market.

I would imagine Pavel has already had contact with new purchaser to find out his intentions.

As the name is borne out of the founders Peter and Pavel Petro pavlosk I dont think the name is going anywhere soon. Better than Peter Hambro mining in My opinion.