Member Info for rustybucket

Lawrence 13 We spent a lot of money on the below which was paid for from free cash reserves, which if we hadnt finished this could have been used partially to reduce debt. Totally change of direction.

Second, we started productive discussions with a reputable industry player on a potential partnership for the development of the POX project. The talks have been based on a significant downward revision of budgeted capital and operational expenditures in the current low rouble environment. The Group is currently evaluating potential plans for such a partnership envisaging the development of a regional hub for processing of refractory concentrate from both the Group's and from third-party deposits. It is expected that such partnerships would allow the Group to accelerate the development of this project, ensuring steady cash flows in the short to medium term.

So initially we looked at projects, but eventually did it ourselves, to maximise future potential and profits

Lawrence13, the terms were actually not more favourable, they were higher, the only benefit was that the maturity date was extended and it lifted some of the restrictions that were being placed on POG, by the banks.

Hi Larence13. Bank debt was paid off. By the issue of the bonds. So technically he was correct

Eddie21 are you saying stt1 is totally a tit. If you are I agree.

POG, Need to focus on debt reduction, Time to consider expansion is when we are able to fund it, like Polymetal, from free cash. It nearly brought the company to its knees with the spending on the first one, so need to see how this goes, how the debt reduction goes and then decide strategy from then.

I think that if POG can start making real inroads into the debt repayments that we might end up with a situation where in 2022 er papay some of the bonds from the cash reserves we have built up, but have another bond issue with better terms for the remainder. All my opinion only.

F.F.S, DO YOU GET OFF ON THIS THIS ??? Put on a new record.

L3 TRADER. We cant pay down loans as they are in bonds, which can be repaid at maturity. We can only pay interest on these till maturity then hope we have enough money to repay on maturity. I am sure Gasprombank will be able to help with this if needed, as they are already a buyer of gold, so can buy some upfront if needed. If they are happy to finance IRC, I am sure they will be able to help POG, if needed. Come 2022, "hopefully" POG will be a completely different animal and be able to negotiate any borrowing needed on much improved terms.

Have to say. I have heard all this on every thing RTHM1 have bought. Still waiting for the increased revenues and 2real profit".

I did post previously, What I didnt want was another takeover by RTHM1, Tto cloud the results. We didnt get that we got a " merger".

Sceptical to say the least. Hope I am wrong.

In essence, its nothing new, its the refinancing of the banking facilities to Gazrombank on an extended payment schedule, which helps a little to de-risk POG, Gets us $57M We lent IRC and also another $6m in interest and a guarantee fee.

NOTHING NEW, JUST RUBBER STAMPING SUBJECT TO SHAREHOLDER APPROVAL. OVER TO IRC TO " HOPEFULLY " DELIVER. .

PART OF IT TRANSLATED

February 14, 2019, NEDRADV. As of February 1, 2019, the enterprises developing the ore gold deposits in the Amur Region produced 1,445.9 kg of precious metals in the region. This is 6.3% less than in the same period in 2018, the regional ministry of nature reported to NEDRADV.

The Petropavlovsk group of companies remains the main gold earner in the region. Thus, in January of this year, the enterprises of the Civil Code mined 1,252.9 kg of metal. In particular, Malomyr Mine LLC reported on the shipment of 503 kg of gold. The result of Albynsky Mine LLC was 487.7 kg, the miners of Pokrovsky Mine LLC received 262.2 kg.

stt1, can you tell me when, IF EVER, you posted something positive about RTHM1.

You dont need to answer it, I will answer if for you. NEVER, Now go crawl underr your rock. Lowlife scum. Thats all you are. How the administrators let you get away with it time after time is unbelievable.

was it not reported previously that polymetal had offered to buy pox hub, but it was rejected, as it was the " jewel in the crown"

2 MORE PURCHASES FROM Tosca at prices well above the prevailing share price.

stt1, put on a new record, or better still upgrade to a cd. Same old reverbetrated rubbish.

Lawrence13, if they can get things sorted, and everything goes in our favour, I think 50p could be achievable, but not within 3 years as I feel we will only see real value once second lot of bonds is sorted.

1GW, Normally in these situations they give an indication of current trading. I hope we get a lot more clarity. The only area I will ever agree with stt1, is there have been a number of acquisitions, these have been very, very costly, and don't seem to have enhanced our standing. It has all been jam tomorrow. Brian talked years about the " full stack". I thought we had the full stack. But the RNS alludes to the new company getting the full stack. I only hope, and it is a hope, that Singer has engineered this along with Tosca to have a company large enough and strong enough to compete with google and facebook. Sadly, I have heard the same thing after every acquisition. I am sceptical to say the least. Hope I am wrong. In my opinion, Singer, has managed to engineer a number of puppets to achieve his objectives. I just hope the are aligned with ours as he does control a sizeable stake.

Lawrence13, As far as I am aware we are paying a coupon, I believe of 9% each year. I believe it needs to be a minimum of 8.26 but there are other conditions. It would be very unlikely they would convert as if they did , they would not get their coupon, which in effect is interest. On maturity they can elect to convert into shares, which means pog would issue more shares and there would be more dilution, or, POG, can repay them in cash, Not long now, just over a year.

Wigwammer thanks for agreeing, so you agree the bondholders have the option to convert. I believe they also have the option to convert earlier if certain conditions are met. When does the company have the "option" to convert ???

They can pay cash or shares, but they cant convert, that's the option of the bondholder.

What a plonker stt1 is.

F.F.S Put a new record on. What a plonker. !!!!