Member Info for Tornadotony

to do this.

Sorry about typos near the end.

Just adding a few more details.
1. In 2019, 17% of the share float was on the Kazakhstan AIX because it had the number one polymetal mine in production. The fifth highest is also in Kazakhstan. When troubles arose there a few months ago Polymetal lost over 150p. If it had not been resolved and the mines impacted than a considerable further loss would have occurred. The entire Polymetal International free float is just above 71%.
2. Kazakhstan mines are the lowest cost producers and contribute 38% of Polymetal EBIDTA. They are also around 33% of the gold reserves of the company. They are at least 30% of the value of Polymetal shares and are not Russian.
3. Sberbank holds $500M debt that is due in repayment in 2026-2029. Someone wanted this data.
4. 50% of one of Polymetal mines in Russia was owned by Polyus Gold and that mine also had $86M of debt to the local electricity supplier.
5. If the UK currency was dropping very fast in value and you lived in the UK would you sell all your stock or would you buy as much on gold mining stock as you could especially if it were priced in your host currency. I leave that as a question.
6. As Westerners sell Russian stock will it be China who goes in and buys everything as they like the discounts. I imagine they are rubbing their hands after seeing 35% off the markets already.

I am not sure where this ends up. My position in Polymetal is very small. As I said before, a number of Russian assets are now priced at zero. Some are still perhaps holding some value. If Polmetal were given time it could be possible to break into two companies. One that is wholly Russian and one that is Kazakhstan. It is perhaps helpful if the company were given the space to this.

Jeremy has given what I wanted to hear a timetable of likely events as things get ticked off. New ISA allocations available in April so top ups against progress may happen on my part especially if the SP stays flat.

When they apply basel III requirements on banks is when it will stop if they implement it.

Comex leverage rates paper to gold 20:1 2011, 54:1 2013, 542:1 in January 2016. I read somewhere on Kitco comments of someone saying it was now 15,000:1 as we leave behind the pandemic a few months back.

We do not have the 2021 annual report, but the figures for 2020 are quite clear that Kazakhstan was 38% of all EBITDA and 35% or so of production and was 37% of all reserves. Some of the Russian assets are of limited life with small reserves and could be just sold off to another Russian miner not listed in UK and this could push the non-Russian percentage higher.

75% back in around 300 less where I sold it. I believe Polymetal may be okay. They should do a share buy back instead of a dividend as it may allow things to run more smoothly.

Brilliant presentation and really pulls people in.

I have an estimate value of 275p after all Russian assets siezed.

Work out the non-Russian assets, how long they will last, operational costs derive a new enterprise value. The share price is still valuing Russian assets in with non-Russian assets imop. At some point it will bring the Russian assets to zero. Then its safer to buy with upside if asset seizure does not happen.

They know where the high grade ore is.

Pensana is now an essential future infrastructure asset as well as a materials defence asset. The REOs are needed just as much as NdPr.

Polymetal is a UK company it won't be delisted by the UK on sanctions. The dividend can be suspended, but the company could get around it by share buy backs.

The problem however, is that Russia could issue a decree and seize all the mines in its own territory. The company has around 35% of it assets outside Russia and so may hold around 450p or so unless Kazakhstan decides to do the same thing.

The Angola mine value in the ground is worth a lot more today than yesterday.

I am surprised its under 100p. Thank goodness for the solar farm from June. It will pay itself back in no time. Best investment centamin ever made.

Hope everybody got out above 1020. It could be all over to have precious resources leaving Russia.

Will need them more than ever.

Its not just green energy that needs NdPr and rare earths. Forget China giving the West any.

Part of what I received in a note from HL

Typically, economic sanctions would apply to a specific asset, for example the UK’s sanctions apply to Russian Banks as well as particular individuals, and this could then make Polymetal’s Russian projects harder to maintain depending on what they are exposed to in Russia.

This doesn't rule out any retaliatory sanctions on non-Russian entities within Russia including asset seizure, further work permit checks or financial penalties. However we simply do not know if this is a line that the Russian Government would take so we would not be able to comment factually on how this affects Polymetal International plc.

I took the decision on the day of the news to take out 95% and its my partner who has kept some back. I wish you all luck. I have experienced setbacks on several occasions and it has worked on both leaving and focusing on other opportunities or sticking it out and trading through it. Whatever your preference is, good luck after such a tough week.

Regarding delisting of Polymetal stock.