Member Info for UpDownFlat

HSBC, the sirlines, Nokia, Renault, Volkswagen , but not POG

This must be the bottom. Nobody wants to put a report in their boss and mark it to market.

Really, I look at many other industries who have radically cut their headcount in the last year. And I look at POG. Who is “special” because “we” don’t know what they do. BP is cutting their workforce by 10,000

Did the convertibles convert around this price?

Based on 370-390K ounces, with a TCC of $950/ounce and a capex spend of $140m, yes clearly I am hallucinating.

Do you remember when Pavel magic'ed £200m of debt from nowhere ?

Do you remember when Pavel magic'ed £200m of debt from nowhere ?

I think takeover is Lawrence's fantasy. Mine is take-over at £1

KRSS,

I don’t think the rating agencies include IRC as part of POG's debt. That’s certainly what the S&P said 12 months ago.

I think it would only have a negative effect on the share price if IRC was in danger of going bankrupt, which they are not. A positive effect if they got $100m cash for it. A neutral affect if they give it away.

Lets hope so

Lots of info here. Good stuff.

have a good easter all.

Rusty,

as a shareholder I am quite annoyed.

Well, what I do know Rusty is whatever it is they are doing, they are doing 20% less of it.
It’s a dumb argument to say I have never been there so I can’t pass comment on their headcount. By that same logic nobody can pass comment on anything.
POG is an employment scheme for the Amur region at the moment, and if/when US10YR goes to 2% and perhaps beyond this company will be forced to take action.

If enough investors call for cost cutting they will have do it, and thereby rightsize the company

Rusty,
I am being clear about the situation. This company needs to tacke some issues and I am being an activist. I am not the one calling the leadership rubbish, you and Lawrence/ freddie2 are. So you cannot cast stones at me!

Gilo,
polymetal obviously think they can run it cheaply, and have calculated the vertical integration means better margin for them. As for the Chinese processes being more polluting, yes, it is.
I don’t think POX process is not worthwhile, I just think it is only worthwhile for companies that are competent.
I just wonder what this company looks like with gold at $1600oz or lower.

KRSS,

I think you will find own gold production is 370k - 390k forcast for 2021

Chinese do it cheaper, just across the border, so most "normal" companies don’t bankrupt themselves building a plant. They just outsource it. Unless of course your objective is not "profit" but really to keep 9000 locals employed.