Member Info for Splice

Even evraz hasn't been kicked off the LSE altogether (they are just frozen) and they are Russian controlled and have oligarch king owning 29%. If evraz is kicked off I will reassess my position. Also, to take it private poly would need a 75% vote, not going to happen. May be possible with evraz.

Reddit being involved is bearish. User Even_Dish5269 claims to have 414,000 shares $2 average. Absolutely savage if true

Jeremyslurpi is just one of the many slurpers out there looking forward to this week. I'll be slupring too if it goes below 1 (i need to get to 100k)

The Rosgeo transaction appears to be complete and is water under the bridge.

SP appears to be driven by the FTSE removal and is technical in nature (ie. sellers have no choice but to sell). I think this week will be volatile and move around a lot. Maybe a chance for a slurp below 1 but it wont last long - there are too many slurper out there like jeremy who love those tasty dips.

The topics they are talking about don't sound like a big deal:
1. Russia's demand for Ukraine to renounce ambitions to join NATO - Zelensky appears to have already accepted this.
2. demilitarisation - question is what this actually means (is it no missiles in Ukraine? is it total stand down of the army? etc)
3. "de-nazification" Zelensky doesnt think they have nazis in Ukraine. They clearly do. Not sure where this one will go.
4. Protection of the Russian language in Ukraine - seems like its not a big deal given the ethnicity of the people in the east of Ukraine.

The real issues:
1. who gets Donbass region?
2. does ukraine sign over crimea (its already gone anyhow)
3. Ukraine being able to join EU (it's 5-10 years away at least)

Celtics, I just listened to Jim Rogers, love it. Try to it the Macro Voices podcast, it's great

Also, the sanctioning of Abramovich was so stupid. The FCA claimed in their statement that EVR makes steel for Russian tanks. EVR makes steel beams for building and the only place they make sheet metal for tanks is the USA. It's unbelieve the stuff that government agencies can get away with. That is literal slander. Surely that statement was reviewed by many people in FCA but it was still released.... and we all know there will be no consequences to FCA.

I was a holder of Evraz but very luckily dumped on the morning of the FCA freeze. Evraz is a very different beast to Poly. Abramovich owns 29%. He's the ultimate oligarch poster boy who has previously been associated with Putin. Boris Johnson was getting direct questions from journalists and lobbyists about why he wasn't sanctioned. The other 3 russian owners took the Russian ownership up to 68% Russian ownership of Evraz.

The Poly formula ownership is very different - no Russian control, Alexander Nesis is the highest profile Russian and only appears to own around 12% via ICT (this could be slightly wrong % but it isn't huge). Even the board insiders only own 4% of Poly. We need more current information about ownership, but it looks to me like this share is held by a lot of PIs in the UK and USA and there is nothing approaching control by Russians. Also, the ownership is nowhere near the 75% required to take this private.

Maybe we should get together and try to get an LSE Forum Members board seat based on our collective ownership. The only question is who would represent us in that seat?

I am not worried about Zelensky or Putin being motivated to get a ceasefire. The USA is my biggest concern, they may choose to prolong this.

At least two brokers trade this share and it's apparently a top 10 most traded stock on those platforms?

Older, Zekensky needs a peace deal because the cities of Ukraine will end up being flattened by Russian rocket artillery. Putin needs a peace deal because of the sanctions and cost of the war.

Are you going to slurp?

Gold is fungible, oil not as much. Lack of buyers for the gold is a non-issue.

If India, UAE and China were participating in the sanctions and kazhakstan also got sanctioned somehow, I would start to worry, but they aren't

Sale of bullion/concentrate

Sales of bullion and concentrate from Kazakhstan continue as usual.

In Russia, Polymetal sells silver concentrate from Dukat (sold mainly to Kazakhstan as well as East Asia) and refractory gold concentrate from Mayskoye and Nezhda (sold to China and Kazakhstan). The Company received assurances from off-takers that all existing contracts continue in good standing.

Sales of bullion in Russia have been impacted by sanctions imposed by the US, EU and UK. The Company fully adjusted sales to comply with all relevant sanctions.

Domestic physical demand for gold in Russia has been supported by the decision of the Russian Central Bank to resume gold purchases in the domestic market. According to CBR statement, the purchases will be conducted at LBMA price of the day of the purchase. The Company is also working on expanding the number of counterparties for export bullion sales.

https://www.polymetalinternational.com/en/investors-and-media/news/press-releases/09-03-2022-a/?month=&q=&year=2022¤t=1

Novice are you planning to slurp the dip?

Newt if this goes to sub 100 I will slurp my way into the 100k club.

Will be interesting to see what the poly ruble bonds trade at:

https://cbonds.com/bonds/530/

Red, I would like to see the company get creative and keep paying the dividend while executing a share buyback. The have cashflow and if the market wants to hover the price at 250 or 300 when the ceasefire happens they should just put a bid under the price themselves. The dividend yield is going to be hard for the market to ignore going forward

If they back Russia into a corner with too many sanctions, the world will see unexpected outcomes that will be bad for everyone. What.incentive do Russia have to stop if they are going to get sanctioned anyhow

Richie:

A quote from a savage commodity investor called kevin bambrough:

"To make money in the market you must see demand and invest ahead of others. Nobody gets paid to read the ****ing (news)… you have to predict the news before it’s written The predictions I make are obvious to those that understand history and the resource markets"

https://twitter.com/BambroughKevin/status/1505067601059368963?s=20&t=kmWsUlx76OhT41Ba5z1zZg

By the time things are back to normal (...and high inflation will be part of that normal), this thing will be trading at 1500 again and the Ukraine invasion and covid was some thing that happened and we are now talking about the new current thing

Prolee, delisting would require 75% of the owners to agree. ICT owns 24% so if they don't want to delist it's a non starter. Insiders own about 4%. Blackrock 10% but it's hard to tell right now. Not sure how much retail owns but 41% was bandied about last year. Retail would own more now. It would require a lot of buying to get this private, or alternatively you would need to convince a lot of holders to do something that isn't in their interest.

With regard to ICT, I feel like the Russian holders there like being minority shareholders in this environment. It keeps them out of the spotlight. Imagine a high profile buy in to take this private.