Member Info for UpDownFlat

I am not disputing GOLD COE. I think it will remain relatively strong and go on upwards in 2020/2021. The calculations for POG suggest it will earn 6p per share in 2020 and nearly double that in 2021. But their is a downwards sucking sound from equities. I am not selling POG as it has too much good news to come. I am 10% cash very short term.

Very good call David. We are caught in a market down wave with a turnaround company. Which force will be stronger.

Freddie2,
that’s not very likely a UK listing is not replaceable. Also, UK investors probably own about 50% of the market cap (£500m), this isn’t going to come from Russian markets. On top of that the pound is more stable than the Rubel (Which fluctuates with the oil price). This means for Russian investors owning a POG share that is listed in the UK is a currency hedge. The UK lisiting is also the exit strategy for large investors.

Small trader, you might be right about 50p if no-one had rocked the boat. But I think that’s where we might have stayed. The old lot were happy to let their gold mining decline and have the POX hub pick up the slack, even as reserves were rising. They were happy to allow costs to rise above inflation. They were happy to have un-utilised capacity in a plant that nearly bankrupted the company. They were happy and their friends where happy. I think the new team (once completed) will have something to prove now.

Lawrence, one month is not languishing. Seven years is languishing. They need to be given some time to restructure. Six months is an appropriate timeframe to start to judge actions. I would like to see an ambitious plan/targets presented at the end of Jan 2021 for production, cost savings and capex and exploration. I would like to see dividends by March 2021, and I would like to understand the true story behind TEMI.

I hear that, such a stressful stock to own but, I cannot get the math out of my head.

It's a pity to see people go if they have been through the up's and down of POG. Hopefully you are in profit Peterg40.

Plface,
We can be hopeful, once we get through some initial resistance. Some people will need to be changed.

This is like owning a burger van during a football match. The chef was terrible before, and there was no business. Is this one better ? maybe or maybe not, but they are showing ambition, and I would rather have that then tapping the shareholders every six months.

Yes it have been accepted into 2 russian indexs.
https*******://www.moex.com/n29890/?nt=201

peterg40, when I say resolved I mean, they fired some staff who had declared unilateral independence. The BOD and shareholders showed their support for management. It was the only possible solution and a very "Russian" approach.
Employees don’t have the right to dictate who the management are. Their voice can be heard if they have legitimate complaints, but they cannot make threats after only two weeks and certainly don’t have the right to judge anyone’s qualification.

Hopefully to buy the hell out of this undervalued share. We can only dream. It seems like the situation is resolved.

Maybe this is related to their cost control issue ?

Ok so if I understand the story, the staff tried to keep the interim CEO (who was their on behalf of the shareholders ) out of the building. He turned up with a security detail and forcefully took the building . Hmmmm.......

Actually, it doesn't demonstrate anything. It's some articles in a local news site. A teenager of 16 with a mobile phone could have published these. What is important for me as a shareholder is that POG don't have business as usual, because that has been the route to bankruptcy in the past. I am less concerned with them upsetting some people. Someone will always be upset.

This is a narrative presented using local media in amur. It does lead to the question what are they hoping to achieve ?

The cash balance of the Group increased to c.US$17 million in mid-August 2020

LOL

Hmmmm, it is difficult to know if this is the same play as last time. I do know one thing, there are pictures on the web of Meshcheryakov with Putin, that alone stands for something.
I think Pavel’s first concern was always the local people(and friends), which is great if you are local people, but not great if you are a shareholder looking not to lose 95% of the share value over a period of 13 years.
I personally am all for efficiency (with boundaries).

PWC were appointed by old management so it would have been difficult.