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This was is costing Putin $20 billion every day. The rouble is dead on it's feet. Russian banks can't dispose of their gold legally except through China. The price of commodities is rising because no one is legally able to purchase Russian controlled commodities. So even if the RCB wanted to dump gold, they can't. China are for now observing the sanctions and it's banks are apparently not touching Russian gold either. They can probably offload some but certainly not make up for the billions of dollars worth of economic damage being wrought on the Russian economy.

I read the Russian military cost is in the region of $20 billion every day now. The Russian economy is set to shrink by 10% or more and rouble asset damage is going to pull the rest of the economy under if it continues.

https://www.devex.com/news/china-based-aiib-and-ndb-halt-work-in-russia-as-sanctions-hit-102787

https://www.reuters.com/markets/europe/rouble-mixed-near-record-lows-volatile-moscow-trade-2022-03-04/

Plenty of Kremlin disinformation trolls on these boards the past few days encouraging ordinary people to keep buying while Russians sell. The company is going to zero. It fell from more than 400p back in 2013 down to below 5p before Russians fleeced holders. If POG survives it will fleece ordinary holders again. Do yourselves a favour, sell and avoid.

The only uncertainty as we are seeing today is the withdrawal of 'Russian money' (for lack of a better term) from Western markets that appears to be impacting the wider market sentiment today and over the past week.

Western sanctions are likely to become more widespread. Market volatility has certainly increased this past week. I think you're right that gold stocks like Pan African remain undervalued and should begin to see more interest, especially given gold is on track to break through $2,000/oz this month.

Looking even stronger today

Platinum $1,100
Palladium $2,970
Rhodium $21,000

Blackrock outta here XD

Bladey remember to blame NATO more for your losses here

The 'gold standard' of nobody will deal with us ever again. That's the future of your Russia comrade.

Mr Dribbles are my posts causing offence aww, how's your average?

Polymetal was selling most of it's gold to Russian banks but they are now unable to sell on international gold markets. So the gold is being sold directly to the Russian Central Bank.

The UK and European Commission have already begun "imposing restrictive measures to prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions"

https://oilprice.com/Latest-Energy-News/World-News/Russias-Central-Bank-Is-Scrambling-To-Buy-Gold-As-Ruble-Collapses.html

Your post konan from 21 February RE: Lost money.

"Just hold folks. Its a well run company that is paying a rich dividend. Dont be a forced seller."

I hope you didn't take your own advice.

Holding 80-90% losses and calling others clowns ha right!

That dividend isn't looking very good now Poly is down another 45%

Ukraine a member of NATO was no threat.. unless you were planning on annexing it.

Russia’s London-listed stocks had lost almost all of their value by the time the suspension was announced on Thursday. Sberbank was down 99.72% year-to-date to trade for around a single penny on Wednesday, while Gazprom was down 93.71%, Lukoil 99.2%, Polyus 95.58%, Rosneft 92.52% and EN+ 20.51%.

https://www.cnbc.com/2022/03/03/london-listed-russian-stocks-are-collapsing-with-trading-now-suspended.html

The crisis in Ukraine began with protests in the capital city of Kyiv in November 2013 against Ukrainian President Viktor Yanukovych’s decision to reject a deal for greater economic integration with the European Union which escalated after a violent crackdown by state security forces. Yanukovych fled the country in February 2014.

In March 2014, Russian troops took control of Ukraine’s Crimean region following a rigged vote, annexing the peninsula from Ukraine. The referendum was neither legal nor transparent as Russian snipers watched over the streets. Vladimir Putin cited the need to "protect the rights of Russian citizens" in Crimea and southeast Ukraine. The crisis heightened ethnic divisions, and two months later pro-Russian separatists funded by Putin forced illegal referendums in the Donetsk and Luhansk regions of eastern Ukraine to declare independence from Ukraine.

Violence in eastern Ukraine between separatist forces (made up of privately funded Russian military contractors and mercenaries) and the Ukrainian military had killed more than 10,300 people and injured nearly 24,000 prior to the full scale invasion by Russia. Moscow has consistently denied its involvement as it did with the Salisbury poisoning, the Litvinenko poisoning, the assassination of Boris Nemtsov, you get the idea.

Russian separatists then shot down Malaysian Airlines flight over Ukrainian airspace in July 2014 killing all 298 onboard. Dutch air accident investigators concluded in October 2015 that the plane had been downed by a Russian-built surface-to-air missile. In September 2016, investigators found overwhelming evidence the missile system was provided by Russia, determining it was moved into eastern Ukraine and then back to Russian territory after the atrocity.

Ukraine has been the target of a number of cyberattacks since the conflict started in 2014.
In December 2015, more than 225,000 people lost power across Ukraine in an attack.
In December 2016 parts of Kyiv experienced another power blackout following a similar attack targeting a Ukrainian utility company.
In June 2017, government and business computer systems in Ukraine were hit by the NotPetya cyberattack; the crippling attack, attributed to Russia, spread to computer systems worldwide and caused billions of dollars in damages.

Bladey responsibility for the thousands of innocent civilians that Russian funded separatists and mercenaries have killed in the Donbas over the past eight years and those killed by Russian troops more recently across Ukraine rests solely with Putin.

You seem infatuated by NATO and America when neither are in Ukraine and have very little influence. You claim there is no need for Ukraine to join but this invasion does little to further your argument. Countries that are now NATO members have bordered Russia for decades. Turkey which used to border the USSR became a NATO member 70 years ago after a period of Soviet aggression over borderlands. When Turkey joined NATO the Soviet government renounced its territorial claims on Turkey.

I doubt anyone could be so ignorant as to suggest "Russia now will agree not to bother them"

Any Russian contributions on here should be taken within a large pinch of salt. Disinformation about the troop build up and subsequent invasion has been rife on social media.

Even if you believe POLY won’t be affected by future sanctions, you must be comfortable risking your savings for an entity helping to pay for Putin’s missile strikes on civilians

Norway’s sovereign wealth fund announced it would dump all of it's Russian investments included POLY and they are one of Polymetal’s top 10 shareholders such is the liklihood of more sanctions by Western governments against what are basically Russian controlled companies.

"Polymetal makes most of its revenue from selling gold to Russian banks, which in turn dispose of the metal on international gold markets."

Last week the London Bullion Market Association, which oversees London’s $5tn gold market, revoked the membership of three Russian banks — Otkritie, VTB and Sovcombank but it's hard to see how they can stop Polymetal aiding the Russian cause without directly targeting it's operations.

Polymetal had approx $1.65bn net debt at year end and according to the FT approximately 40% if it's debt is with European banks. Direct sanctions could force Polymetal to refinance the debt inside Russia (where rates of interest have rocketed).

There won’t be any winners outside of Russia if sanctions target these companies, just look how the Russians fleeced shareholders in Petropavlovsk POG eight years ago. 98% collapse in stock value, board complicit in the capital destruction and then a rights issue to ‘save’ the company. I’d only jump in here if Russia pull out and even then it would be a risk

Shell is ditching its joint ventures with Gazprom, including its involvement with the moribund Nord Stream 2 natural gas pipeline.

The UK-based oil company said Monday it would dump its 27.5% stake in the Sakhalin-2 liquified natural gas facility, its 50% stake in a project to develop the Salym fields in western Siberia and its 50% interest in an exploration project in the Gydan peninsula in northwestern Siberia.

Norwegian oil and gas company Equinor which has operated in Russia for more than 30 years will also begin to exit its joint ventures in Russia, the company said in a statement Monday.

The company said it had $1.2 billion in long-term investments in Russia at the end of 2021.

French oil giant TotalEnergies (TTFNF) which has done business in Russia for 25 years has condemned Russia's actions and said it would no longer provide capital for new projects in the country.

ExxonMobil (XOM), which has been active there for more than 25 years, has reduced its presence since although still has a 30% stake in Sakhalin-1

https://amp.cnn.com/cnn/2022/02/28/business/shell-russia-gazprom/index.html