Member Info for Shedulike

Why do you think we keep opening up down then KRSS? I suppose gold fell overnight as well. Not sure Fresnillo are a great peer comparison as silver is so important to them. Unfortunately the old Russian discount has come home to roost for us again as well. Funnily enough I noticed for the first time that we produce a bit of silver, but it is a tiny quantity.

I wonder if these annoying drops on opening are down to our exposure to the MOEX. The Russian index opens at 10am so looking at this morning it fell sharply for an hour (GMT +3) before we opened here. Might explain it I suppose.....

Peer comparisons are relevant to the POG discussion IMO Freddie2, not wishing ill for GGP holders.

Also we're not in the middle of nowhere building accommodation blocks and shipping in workers. Not saying that to knock GGP but to point out one of our great strengths that I think we get absolutely zero value for at this stage. We have pre-existing infrastructure - road, rail, power on our doorstep.

To put the GGP position in context you just have to browse the Petropavlovsk website look at our operations and you get an instant visual impact of the monumental amount of CAPEX that GGP are facing to become a producer. They do have financial backing I believe and I don't really know much about them to be fair, I just think the mcap has way over run given where they are in the mining cycle.

No problem, timing an entry or exit is very difficult. I sold some when it looked like we would never escape from 10p so I'm kicking myself about that. Some of the proceeds have done well elsewhere, some have stagnated but on balance with the prospects here I wish I'd just left them in POG but you can't beat yourself up about it.

investor3 I think you need to try and be a bit more philosophical to be a POG investor. If you look at the 1 year chart we had a great run but have been hit by these corporate issues. However the damage was not too severe IMO and we seem to be in recovery mode, I don't think confidence will be fully restored until time proves for certain that the new outfit are fully aligned with shareholders. They're making the right noises but it's not going to happen overnight. Solid results on the 26th will be a good start and then we can look forward to the commissioning of the new flotation plant at Pioneer in Q2.

I don't think they're all sells grappa but it matters not if you can buy so low we'll be marked down on open tomorrow unless there's good news. Much as Banker is great fun he / she doesn't step up to the mark on flat or down days so outrageous dereliction of duty there :) Anyway thankfully all sane people can rejoice in one unequivocally piece of good news today, in that the demented narcissist has thankfully left office and the free world can look forward at last.

I wouldn't want to wind up any GGP holders but I do find it bizarre that they have a similar mcap to POG, I think it was higher prior to their drop today. If I've learnt anything in my years of investing it's that putting money into mining explorers so far from production is very, very risky. Not saying it won't work out over there but I do think some of these 'flavour of the month' exploration companies get extremely frothy valuations as the herd pile in. Obviously these bulletin boards have a lot to do with it I believe, creating some highly polarised under and over valuations IMO.

Well they're certainly achieving that with aplomb :) Not sure if I quite follow you though CHRI5P, if they find it they will have to report it, for example this from the wedge off TO23 "results show elevated copper levels with 0.28m@1.83% Cu returned at a depth of 640m downhole which is being assessed by Europa Metals' technical team in order to understand how it relates to the copper intercepted near surface in hole TOD-020 from the Company's 2018 diamond drilling campaign". We always get these tantalising finds but then they go quiet on its significance.

Michael I think it is just convenient that the primary purpose is as stated, increasing surety for whoever invests in this and hopefully bringing forward the break even point, but the copper previously detected in shallow drilling could be a bonus, I have often enquired about the copper and always been told that with limited funds it makes financial sense to concentrate on our core products. Perhaps with the forecasts for the copper price in the coming years it has become almost reckless not to look into it further. Anyway I'm just floating a theory as it is more fun than talking about placings, there could be nothing in it but look at the Dec 18 RNS and compare the slides to the mine design, it is quite stark that they talk about early years mining in relation to those 2018 drills and now it's back on the agenda. I wouldn't want to raise false hopes with the copper but it is not just idle speculation as it comes up virtually every time we get our assays.

Bricks this is partly why I'm wondering if they're revisiting the zone explored by 018, 019, 020 (see Dec 18 RNS flagged by Trade yesterday). In the 2018 drilling results RNS which revealed the reportable copper the RNS also says this: "Drilling strategy to remove ‘gaps’ within the known resource, all within 300 metres of topographic surface, and to identify geotechnical characteristics of a possible decline/entry route(s) for preliminary years of mining", sound familiar? That's why I'm theorising that they could be going back into the same area in which the copper looked so exciting 2 years ago. So yes they want to improve the Pb, Zn, Ag economics of the early years mining but perhaps they are quietly interested in whether we can finally get a copper credit as well?

...... to what I was saying about copper there's a good article on Mining Dot Com about the role of all metals in the green transition but particularly copper. Interesting bit about junior explorers predicted to find it a lot easier to raise capital in this climate.

Yep the copper price shows no sign of stalling CHRI5P. When Biden announces the green energy investment package it will surely get even more support. I'm wondering if the case for investigating it properly has finally become overwhelming?

Hope so Rusty, had to smile at the RNS with the not so subtle connection between noting the arrest of Pavel Maslovskiy and the improved co-operation from the 'small group of senior employees' :)

Funnily enough if you want any evidence of irrationality in the market looking through a few boards this evening there seem to be a significant number of posters in the AIM investing community who still think the US election was stolen from Trump by alien democrat paedophile lizards. My point is trust in your own research, don't be panicked by trolls or investors so far down the only pleasure they get is by attempting to torment others, double check what positive posters come up with and don't bet more than you can afford to lose. Personally I think the next 12 months here are going to be historic, but don't take my word for it. GLA honest posters!

I suspect some traders are betting on there being no news flow for a month during the drilling. This campaign is planned to be shallow with wedges so they might be seeing results sooner than expected. I doubt we'll get comment on visual mineralisation though as I always suspected we had our knuckles rapped for that in 2019, so we'll probably be waiting for the numbers from ALS Labs. I wonder if they'll dispatch the cores hole by hole? Anyway if you believe in the project I wouldn't worry too much about the SP stalling for a day or so, as the enterprise progresses towards PFS I expect there to be news on more fronts than the cycle of drill - assay - mets - JORC.

I've always found that they pick up the phone rusty.

Trade just had an interesting thought. Those drills you highlighted this morning with reportable copper shows 018, 019 and 020 (I think) are smack bang where the early years mining shaft is located, not the slope access but where it starts descending. Compare the cross section in the Dec 18 RNS to the 'Life of Mine' plan in the latest presentation. If the latest drilling is to create more surety in the early years and bring forward the break even point then are they revisiting those shallow drill areas from 2018 right now. I know they always downplay the copper but it always turns up in our cores, imagine if we can add copper to the products being produced in the early years, it would certainly improve the economics and copper is hot!

Sure - all good stuff.