We would love to hear your thoughts about our site and services, please take our survey here.
We are officially off the jersey register and hopefully will start trading tomorrow on the new exchange :) No going back now :)
Expected to be 8th at earliest according to AIX before trading commences
And poly is now $3.94
And as for polymetal - redom is good for them - Kazakhstan is an ally of China and strategically important to all. Good move- share price already over $3.50 and will continue to rise. Sell Russian assets and get some money in the bank (yes no debt and cash will be the outcome) as this is buying from a friendly jurisdiction. Sp will be minimum $4 but more likely over $5 so most shareholders will be ok (with new joiners well up). Expect dividends to start next year at latest and price of sp to be around $7.
Rad and others - I all wish we would just be factual and not emotional. Russia will have higher growth than the uk this year- fact. The sanctions if they continue do hurt them and their future but at present their debt levels are much lower than uk and most developed countries and they still receive most western goods so not that noticeable the war to most. Most of the world still trades with them and are happy to receive their goods cheaper which is making Russia less rich but they are still better off than many and can continue for numerous years. This is all in the public domain. I am not stating anything political just facts
And most have taken no action
https://www.politico.eu/article/majority-of-western-companies-continue-business-in-russia-study-finds/amp/
Just as well Kazakhstan is a friendly country then isn’t it :)
All to do with not being able to buy and forced sales on a few accounts who did not transfer or certified their shares. In a few days once all on aix and after the redom and trading update the shares should once again be with a lot more- just short term fluctuations at present (all downward most likely) until shares are delisted
Once we redom we can use the pox in Russia - no worries over sanctions - no Kazakh listed business has been sanctioned
The big difference for the sp is that we know the figures now and the impact of Ukraine on operations. Aisc has risen but stabilised now and logistics, spares etc. all sorted. With gold up and rouble weakened even the kaz aspect is worth much more and there will be a huge chunk of debt paid and risk is diminishing hugely. Indeed the risk reward is definitely in favour at moment and even under £4 is still good value. Roll on the second to confirm the positive news
On sp after results - I expect a constant slow rise to 290p before results and then a 20% rise which gives 348p as closing sp on results day (and yes my shares are in an isa) GLASH Gold around $2060 and 80 roubles to $
Looking forward to 2nd May for update - can it see it being very positive with rouble weak and gold strong! Hopefully gold will be at an all time high and the inventory build up has been sold- worst case I still see a positive update but interesting to see how much debt will have reduced due to foreign exchange rates and also selling of gold (if they give this info)
Agree that all looking great for poly at present on operational aspects - working capital will be much less as we bought up excess stock last year, gold is averaging over 1900 for the year so far and could keep over 2000 for rest of year so 2000 average for year possible. Rouble weakening is good news as debt decreases in real terms and operating costs also decrease. I see the $2.4 bn debt halving this year ($200m due to foreign exchange, $200m for inventory stockpile and $800m via operational delivery). Higher profits again due to price gold/ weakens rouble as aisc should reduce too. All in can’t see anything but a great year if the rouble and price of gold stay where they are! Glash.
Page 18 (eighteen) out of 70 if you wish to check. Spelt out the 18 into English as numbers are not your strong point.
As some people cannot understand simple pie charts it also states in the accounts the following which relates to the pie chart: Foreign exchange
The Group’s revenue and over 64% of borrowings are denoted in US Dollars, while the majority of the Group’s operational costs are denoted in Russian Rouble and Kazakh Tenge. As a result, changes in exchange rates affected the Company’s financial results and performance.
The global economy continued post-pandemic recovery, while a restart of the worldwide supply chain saw soaring demand for commodities, and consumer and industrial goods. In addition to demand-pull factors, ongoing geopolitical tension and sanctions on Russian fuel contributed to elevated energy prices.
Although economic sanctions were implemented against Russia, the average annual Rouble rate stood firm at 68.6 RUB/$ (2021: 73.7 RUB/$) due to contracted demand for the hard currency, with a slight fall to 70.3 RUB/$ at the end of the year. This had a negative impact on the mining sector, resulting in a higher Dollar value for Rouble- denominated operating costs.
Consistent geopolitical tension within the CIS region, the strengthening of the Dollar, and a decline in Kazakhstani oil production contributed to a weak average tenge of 461 KZT/$ (2021: 426 KZT/$), closing the year at 463 KZT/$.
Inflation peaked at 12% in Russia and a record 20% in Kazakhstan, intensifying pressure on costs.
Yes some people do indeed look silly. Only 64% of borrowings are in dollars - simple English easier to understand than the pie chart!!
https://www.polymetalinternational.com/upload/ib/1/23-03-21/2023_03_16_Financial_results_2022.pdf
Page 15 out of 19 shows how much is in roubles - amazed how some regular posters know so little about the company or even read their financial statements - says it all I suppose but 28% is roubles! In dividend payments -obviously having the money to pay is more important than Redom or at least equally as without having the cash it is irrelevant where we are. Others factors could make redom less important such as peace but cash is king. Please keep up with life and reality
Just doing some simple maths - poly had $2.4bn net debt. This is 30% in roubles which with the rouble weakening at present is saving around $250m, so just over $2.1bn debt. Slightly higher interest to pay so will say $2.2bn for ease. $200m of excess inventory sold so $2bn debt. With rouble weakened aisc should drop say to $1250 from $1350 and with gold at $2000 should give $750’per oz profit. Hence I see a position where poly can pay a decent divi and have under $1.5bn debt. All reliant on gold and rouble staying where they are GLASH
Poly won’t be making as much money as in the past at these prices as aisc of gold has went up by around $300- their new high for gold to make best profits would have to be nearer $2400 - still a good price at present and good margin. Still can see a scenario when we are under $1.5 bn debt and pay a divi this year - glash
I meant $25m per quarter
P.s. debt even of $2bn at 5%p.a. Is only $50m per quarter - not that significant in a company with at present expected revenue of well over $3bn per annum