The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
This is how ridiculous the KDNC share price is currently:
• Market Capitalisation KDNC £26m $32m usd
• 27% of Iron ore stockpile 1.2m tonnes @ $150 t sat in storage at the port. $48.6m usd to kdnc
•So current kdnc value assignees nothing for other projects, and not even full value for the 27% iron ore stockpiled!
• Emh Holding kdnc 8.7% holding mcap £104m £9. (no value assigned)
• LT&LS holding (selling for £3.72m $4.645M usd) (no value assigned)
•Amapa mine and associated infrastructure 27% share previous owners Anglo American valuation $1.2 billion (no value assigned)
•1% KDNC holding of Macarthur minerals mcap $45.5M cad $455k cad (no value assigned)
•Yangibana Rare earth project NPV8 $1billion, kdnc 30% (no value assigned)
Lth don’t need this explained to them, however, if your looking in over the weekend, and thinking of potentially investing in Kdnc, get reading those RNS’s!
And if you are a lth, perhaps a nudge down here, and don’t get dislodged from your shares on the cheap!
Given the profit currently being generated by steel manufacturers, (billions in Evraz case) and others like them, can I see them perusing a resource such as Amapa, well if you can’t spend your money on dividends I guess you buy assets. (Evraz )
If kdnc stays here, someone imho comes in for us and breaks the company up for its constituent parts.
Took 80k today at 14.25 50k 15k 15k clips, a MM called my broker trying to cancel the last 15k , a MM who imho is synonymous with share price manipulation.
Kdnc one way or another can’t remain at these levels. Dyor!
I may get stuffed By buying Evraz,175k but I tell you what, I’d take that trade again every time.
Besides if Rolls Royce can supply engines for Russian Raptor boats, supplying Railway lines don’t somehow seem so bad to me.
What you think eh Boris?
There is no way this raise had to be done at a 60% discount!
It never got shown to the rest of the brokers , just the one broker from what I can tell, totally incompetent from management.
Another brown envelope stuffed in someone’s had to facilitate clns, no doubt another £1m break clause! What a prick this new guy has turned out to be so far.
Unless there’s news to go alongside this tomorrow, I’m selling my 1% I’ll trade my way back elsewhere, TW you were correct unfortunately.
Still holding 20k matchu and positive we see higher eventually, would have dropped a few if we had if seen over £3, fine holding 20k would have more if I hadn’t had 175k suspended.
Anyway Goodluck
Now I’m always suspicious when I see insults abound.
* immense sanctions put tremendous pressure on Polymetal in Q1.
* Q1 gold equivalent production ("GE") decreased by 6% year-on-year
* Net debt rose to roughly US$ 2.0 billion
Quite a bit there negative and not just positive I thought
Well the RNS has a negative tone, not sure where this goes today.
As previously reported, we believe there is a good possibility any offtake contracts entered into for coking coal or coke would come with some form of funding, to be used in the roll-out of the Lubu development,” says Esprey.
https://www.newzimbabwe.com/london-listed-contangos-zimbabwe-coal-project-starts-production/
SLB have been know to provide funding in the past too, or take a stake in a project, SOU for example.
Income from gas sales almost doubled :)
Raise funds over next month, for the frack, probably not from a placing, as they don’t take a month!!!
Surely good for Mode
https://twitter.com/lilmoonlambo/status/1509984503032389636?s=21&t=g7KjD6UYi7_jHIse6OrZ1Q
Sunday roast! Not so long ago.
Nothing to see here, just another rat leaving the sinking ship, won’t be any oil and gas companies giving away cheap assets now the political agenda has changed, hell, even caudrella is getting the go ahead for fracking!
Just pigs with nose in trough here.
Poly RNS but applicable to pog to Sales of bullion and concentrate from Kazakhstan continue as usual. In Russia, sales of gold and silver concentrates continue normally to East Asia and Kazakhstan. Shipments have been temporarily impacted by the change of freight and logistics service providers, which is likely to result in higher costs. Sales of gold bullion in Russia have been restored to new counterparties on terms consistent with those received earlier. Domestic demand for gold is boosted by local retail investment. The recent Central Bank of Russia statement that the bank will buy gold from commercial banks at a fixed price of RUB 5,000/g (approx. US$ 1,800/oz at the time of the writing) is not expected to affect Group's sales price materially as gold continues to be sold at global market price, both for exports and to satisfy physical retail demand.
We don’t unless we’re looking for a trade while we wait
Russian central bank will buy the gold according to FT
Petropavlovsk, which mines gold in Russia’s far east and has its headquarters in Moscow, has borrowings and gold sale agreements with the banking arm of the Russian gas giant.
These include a $200mn loan and an $86.7mn credit line. In addition, Gazprombank also buys and sells all of its gold production, which last year topped more than 500,000 ounces, worth more than $1bn at current prices.
Petropavlovsk said the sanctions prohibited the sale of gold to Gazprombank, adding that the “restrictions on purchasing and selling gold in Russia may make it challenging to find an alternative purchaser”.
Peel Hunt analyst Peter Mallin-Jones said the Gazprombank asset freeze had effectively stopped Petropavlovsk from being “able to service its outstanding debt” and made it “considerably” harder to sell its gold.
“Petropavlovsk has just seen its operations get substantially more complex. This interrupts its ability to sell its gold as well as raising material risks around the ability to refinance its November 2022 bond,” he said.
There is just over $300mn of principal outstanding on the bond and analysts reckon the company will be forced to refinance with Russian banks. But with Russian interest rates at 20 per cent this will be expensive and a drain on cash resources.
“With the Russian Central Bank having recently announced it is willing to act as a buyer of Russian mined gold, it may be that this ends up being the buyer of last resort for Petropavlovsk’s gold,” said Mallin-Jones.
Shares in Petropavlovsk have plunged almost 90 per cent since Russia’s February 24 invasion of Ukraine, leaving the group with a market value of £70mn. They were down 17 per cent to 1.41p on Friday. At the end of June, the company’s net debt stood at more than $530mn.
The company has also been ejected from the FTSE 250 index and is set to be deleted from all FTSE indices after many brokers refused to trade shares in companies with significant Russian assets.
Petropavlovsk’s biggest shareholder UGC, a Russian gold company, dumped its holding earlier this month. It was picked up by a Russian billionaire who part owns Credit Bank of Moscow, another sanctioned lender.
Petropavlovsk was founded in 1994 by Pavel Maslovskiy and Peter Hambro, a scion of the London banking dynasty.
It has been become best known for a succession of bitter shareholder spats involving Russian and Kazakh billionaires.
In the most recent episode, the company’s co-founder Pavel Maslovskiy and several other directors were ousted from the board after UGC, which is owned by Russian businessman Konstantin Strukov, voted against them.
The boardroom coup saw a new management team parachuted in to run the business. It is led by Denis Alexandrov, former head of Highland Gold, a Russian miner in which Roman Abramovich once had a large stake.
Petropavlovsk’s most valuable asset is a state of the art pressure oxidation plant, one of just two in Russia. Commissioned in late 2018, the
Expect a force majeure event, the largest buyer of gold in the world India has no Russian sanctions, I’d expect POG gold to head that way, buy and hold. Imho