Member Info for UpDownFlat

At that rate you would have been stopped out in 2022, when the bonds became due and the assets would have been restructured and gone to the Amur region.

What about the £180m worth of debt on pre-sold gold, when where you first aware of that ?

Remember, just twelve months ago Pavel gave away 1/4 of the company for $125m. And then six months later he paid $13+$57 for a 25% stake in a piece of land (Which I can’t understand why someone else owned if POG were going develop it) but then he wanted to flex that up a little by giving away another 10% and he has a history of taking shareholders from £10 to 5p.

I thought they coverted after UCG

Reduced their holding by 2.6M shares. They must be ****ed that Pavel couldnt give them their "greenleaf". IRC is doing well, and now they have some surplus cash to improve their efficiency. Its also good news that they are diversifying thier customers. Really quite positive. We might see interim on Monday.

Really we should be saying come on Gold.
Goldman see Gold hitting $2300 in 2021. IMF say Debt/GDP in western economies to hit 125%. S&P seems to be the odd one out.
This is what we really need to come true.

This is a media campaign orchestrated by Pavel and friends aimed to scare foreign investors. I think all those little Russian shareholders who bought shares on the Moex would probably have enough sense ignore this tripe , as should you.

I "Raiderstvo" is pretty fanciful thinking. You might be able to do that to a Russian oligarch/owner but not to large multinational companies like Blackrock and others . Meshcheryakov doesn’t personally own POG.

Lawrence13,

well from the prior history and also his actions post AGM I can cetainly tell that he has the shareholders interests at heart.

How dare the shareholders think they can select the management. The campaign to create as much trouble as possible shows exactly what this fifth column thinks of the shareholders. Why do you believe they would treat you correctly if they returned Pavel to power? Is this really because Pavel is such a wonderful person?

Rusty always a pleasure,

ok lets say the S&P is right and Gold drops to £1700 next year and £1400 the year after. And POG pays out $200m dividend before the $500m bond becomes due. POG will still be able to knock $200m of the bond and refinance only $300M at 4pct ?? Annual interest goes down to 30pct of what it was and the company is cash rich even if the Gold price is $1400 and stays there. The days of not paying a dividend are over.

The new piece of information in this article is :

"In this case, Strukov "complained" to the raid, wrote "Ura.ru" . However, given the increased interest of the FAS in the UGK getting into Petropavlovsk, it is possible that the oligarch himself may be accused of this.”

Does this mean that Meshcheryakov filed a criminal complaint against some employees ?

69.6% converted.
When this gets to 80%, I believe the company gains additional rights for the balance of the last 20%. From what I understand they could potentially re-purchase the last 20% for principal plus interest. I think these bondholders that are converting are doing so because either they fear this or they need the cash and are selling the shares. Just a theory…

Personally, I hope POG are done with boardroom battles. The share price has risen because of the rising price of Gold in spite of management behaving like they have unlimited shareholder goodwill. POG need a period of building transparency and focusing on increasing real mining of gold. No more dilution, better reporting, more floatation, stronger mining plans and a fair wind from the price of gold.

I guess this means lower pound, lower interest rates, perhaps some QE. US to follow after the election. The only country doing well at the moment is China. Russia is stable since they have no debt. Cant be good for the USD short or long term. Must be good for Gold at some point.

Last year we part impaired IRC. I wonder how much has be impaired over the years. Since IRC looks stable and able to meet its debts one would think that un-impairment might begin. Maybe at the year end.

68% converted.

Kenj,
I think they deserved a honeymoon. But I also think that honeymoon is now over. Its time for them to start performing properly.

As an investor I would really like to know what POG's new strategy is. Under the old regime, there were presentations which gave us the strategy. Unfortunately, these were often poor judgement. Why focus on third party material, when you should be focusing on mining. Why were reserves increasing yet output decreasing.

But now I feel in a bit of a black hole. I need the thinking behind delaying the floatation plant explained more clearly. I mean less volume, is just that, less volume. Now 2020 was inherited so we can’t necessarily blame the current crew for 2020, but I want to know about the future.

And please make sure you focus on mining !!!!!!

No what I am saying is in January, the average SP resets, the volume is predicted for 2021, the company starts to trade on 2021 results.