focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Positions in RSG, EDV and AUY shooting up! PAF yet to breakout but looking ready for a move to 24-25p range
Another solid update. Can only echo what’s already been mentioned today, the Company’s response to this freak weather event should be commended and recognised by the market.
Difficult to explain why the share price remains depressed when sales are currently above market price with production set to increase in the coming months.
Possibly lack of clarity when it comes to financial forecasts (expected turnout, costs) is sapping confidence in what is expected to be a highly profitable operation.
I suspect it's a foreign troll judging by their poorly worded attempt. Plenty of new accounts springing up here and on ii talking down certain defensive stocks at a time when Russian based stocks like Evraz and Petropavlovsk are getting torched. Polymetal soon to follow perhaps?
"The Russian government have a website where Russian nationals can email Putin directly with any grievances - a response is sent within 3-5 days. IMHO this would be a more productive avenue if we can find a private Russian investor."
While Russia wages a genocidal war and campaign of terror in Ukraine there is a good chance Putin will have time to respond to the handful of genuinely naive investors who got suckered into holding this worthless stock..
Agreed gold is performing well, along with silver and other precious metals. The flight to safety trade is driving the Dollar up courtesy of Russia's war in Ukraine. When the dollar retracement finally takes hold is anyone's guess, I'd expect this to continue for months yet though. Russia look intent on taking the south and possibly the breakaway Transnistria region of Moldova in the process, which won't happen overnight (if at all)
Initial performance looks better than forecast, production actually increased despite the major works at Syama
- Improved throughput at Syama sulphide plant during April following completion of works
- Quarterly production of 81,770 ounces up 2% on December quarter despite the planned shutdown of the Syama sulphide circuit
- All-In Sustaining Cost (AISC) $1,383/oz a 4% improvement over the prior quarter
- Quarterly gold sales of 88,773oz at an average realised gold price of $1,846/oz
- Cash and bullion of $103.9 million
- Net debt reduced by $54.1 million to $174.7 million
- Revolving Credit Facility (RCF) extended an additional 12 months to March 2024
- Asset sales proceeds of $43.7 million
Not a bad performance today given the state of markets!
BeingTheBanker - "Ukraine though is of cultural and strategic importance to Russia" What you really mean is Russian Nationalists currently in power consider the area 'Ukraine' to be an extension of Russia and intend on cleansing the region until Russia controls it.
Any suggestion that Russia is looking out for it's neighbour is Russian propaganda.
On topic Petropavlovsk can't repay Gazprombank the interest payments due because of sanctions and now with the latter having demanded the immediate repayment of £232.86m worth of debt and a further £235.97m in November it has no means of raising such large amounts of capital. It doesn't help that the bank demanding repayment also serves as the company's main gold buyer which consequently has meant it is largely unable to sell the gold it produces. This is an orchestrated collapse of the company by the Russian state owned bank and will wipe out any remaining Western holders before I'd imagine, auctioning off the assets to one of Putin's loyal oligarchs.
And purchases made by the Russian Central Bank are now priced below London fixing, meaning cashflow will take a hit assuming it somehow organises a means to meet Gazprom's demands (unlikely).
Trades going through at $1 on Tuesday which represents a 100% gain on our $4.9m December investment albeit briefly. I suspect many who overlooked AAZ for their lack of organic growth (stagnant production) in the past 2-3 years will have missed this.
I'm waiting for the turn myself but agree it looks overdone assuming gold continues moving higher in the coming months
Lol you might want to read up on post Soviet distribution of state assets, the long list of political murders and the current war that has claimed 20,000+ young Russian lives for no gain..
Petropavlovsk is just a shell to attract Western investment. The assets will be stripped leaving holders with nothing. This company has history when it comes to shafting investors by the way, check the 98% share price collapse back in 2012-13
Gazprombank's demand for immediate repayment of approximately $288m is going to sink this outfit once and for all. Anyone naive enough to still be holding will end up seeing their remaining equity value disappear.
Out in force today, muddying the water..
If there is no truth to it why remove the post XD
Looking a little rosier today up 7% with gold flashing a dollar shy of $1980/oz
You're dribbling again. Must be all that Russian tonic..
Small caps like AAU, GDP and AEX are moving up at a rate this month, GCAT finally showing signs of life!
Glorious rise here today leading the pack and AEX not far behind :)
As expected Polymetal can't even afford to pay it's dividend contrary to what all those angry little Russian g00ns have been bleating about these past few weeks..
"significant changes in operating conditions"
"mounting uncertainty with availability of funds"
"higher working capital needs as a result of liquidity crunch"
"supply chain limitations"
"balance sheet constraints imposed by lower credit availability"
"significantly higher cost of funding"
"it is no longer appropriate to recommend or declare the 2021 final dividend"
Just wait til August folks, you're only down 90%, Putin's army of Z heads are only down 20,000 so there's plenty more red days ahead.
Clare Daly knows nothing about what she speak.
Advocating total surrender to the Russian occupiers would mean leave ALL Ukrainians at the mercy of Russia's fascist government.. the same people who imprison tens of thousands of protesters and silence all political opposition.
Ukraine would inevitably cease to exist as an independent, democratic state. More to the point it would give Russia a green light to launch it's next war .. sorry "special military operation".. into neighbouring Baltic states, specifically non-NATO Finland and Moldova. Clare Daly will have her Russian sponsored 'peace' at least until then.
Economic sanctions are working and will continue to make a greater impact as the EU member states ween themselves off the Russian gas and oil. It would be more painful for them if they were 'forced' to give up all imports, either through a complete ban or Russia turning off the taps, but certainly the next 12-24 months will see a collapse of Russian exported gas to Western Europe.
As for the Russian people I feel bad for the few who have tried to resist. The rest deserve to feel the full effects of biting sanctions given the vast majority are in favour of maintaining the status quo and likely support Russian military aggression abroad (whether or not they truly believe the Russian state sponsored disinformation).
The sooner they take action the sooner Russia returns to the fold. Otherwise they face indefinite isolation.
Most gold producers have added 30%+ in recent weeks and today are moving higher with gold trading at $1965. Disconnect here looks even more obvious today.
Last we heard Syama gold production was "on target for the March quarter" following the completion of the Syama sulphide plant works and performance of the sulphide plant will be more consistent in future quarters. Consistency is one of issues Resolute have struggled with and no doubt discounted in the market valuation so improvements should (in time) appeal to the more risk averse.
Resolute's Chief Operating Officer, Mr Terry Holohan commented: "I would like to thank all of our employees and contractors within the Projects and Maintenance departments, as well as the support teams, who have contributed to the safe and successful completion of this significant $7.5m enhancement project. From the early stages of planning, incorporating all the innovative design improvements and challenging logistics through to final delivery, the work performed reflects a highly competent and professional team. The team have successfully met all of our operational requirements while having to deal with a number of external factors, including COVID-19, unseasonal weather and political disruption to deliver a safe and high-quality project for Resolute."
"I believe that we now have all the tools in place to significantly extend the campaign life of the Roaster going forward. The entire sulphide processing circuit has now had a long overdue refurbishment which supports delivery of Resolute's 2022 production targets, full tie-in of key improvement initiatives implemented in 2021 to provide a strong basis for further enhancements to the circuit."