Member Info for UpDownFlat

Schedulike, Retiredbanker,

I personally dont think it is in the best interest of the shareholders to sell IRC for $10m, considering the investment made. I think they can pay their debts slowly and make a reasonable profit and become an asset in 2-3 years.

Does anyone know if the period for the 1st stage approval from the bank has expired. I couldnt make head or tail of thier plan. It is proably quite a good thing if it expires void.

This is interesting. I fully support the court-imposed restrictions on the BOD as it appears, they were about to start the party.
About the investigation, I am in two minds. My purpose as a shareholder is not to expose the truth, I simply want the share price to rise (as it should on the fundamentals).
On the other hand, it seems very likely, as I have long suspected, that the old BOD was not acting in good faith (hint…convertibles, TEMI).
But the old BOD being crooked doesn’t mean that UCG have reassured me about their intent.
I think vote for old BOD and the investigation (simply to counter their greed).

As long as this company has no effective BOD, they cannot:
1. Dilute you
2. Do another bad refinancing deal
3. Do another bad hedge against rising gold

All they can do is mine and process gold. Like a world without politicians, ...........utopia

So in 2021, based on locked interest rates and 5 year inflation expectations, we can assume gold will do what it did in 2019 and 2020(almost there ), a $400 increase. With the volume mix changes due to flotation these numbers become:

EBITA $850M
A Cash in-flow of $650M

and the story gets even better in 2022

If gold goes up another $100 this year, POG should make $500m EBITA, take off $200m for interest, tax and exploration/capex this should leave roughly $300m cash inflow for the year. And next year should be even better with the new floation facility comming online in Q4.

Thanks for that Rheingold,
although UCG are saying they are benign and only want a more efficient management, ....great everyone wants that.
I think though an article in Russian is just not good enough. They are the ones promoting change so they need to be more specific about what can be done more efficiently and how this will be done. Different is not necessarily better.
They also need to speak to the audience properly. The majority of the shareholders are in the UK, so they need to make their case here. With clear statements giving commitments to the shareholders.
They also need to explain to the shareholders why they have done the actions they have done.
I am willing to listen to their case but unfortunately, they haven’t made it.

COE, with a $400m facility at a lower rate of interest it sure would be an interesting choice if they reissued them.

COE, why would you want more convertible bonds? These are terrible things for shareholders.

POG should buy the 22% stake, using its $400m pre-pay facility and use it for redemetion of the convertables if and when. It should cost around $200m at around 30p. As long as this big block exits its a danger to the BOD and executive. Less then one years of C/F. Delay the dividend.

Hopefully this comes quckly so we can get the uncertainty behind us.
I dont think everest will win the vote, if they were confident they wouldnt have bothered with the court case. Its proably quite a close split.

Ok I will be voting against Everest and UCG. Since they have not stated their intentions.

I think this implies that the freeze has been released. Two more directors would give CABs Everest and UCG control of the board. I think it will now come down to the votes.

actually, illegal as certain people/companies weren’t restricted by the technical "hitch"

Jonny, looks like a grifter if I have ever seen one.....LOL

If this is ruled in favour of UCG, the old team still have 3 to 1 voting advantage on the BOD unless you believe the 3 are UCG plants.

They certainly want to keep us hanging on. Honestly will any decision really make much of a difference.

COE,

I am holding mine too, the rewards outweight the risks.

Yes, transfer pricing is a real threat, probably what UCG are after. There is also a danger that Pavel does a deal to keep power and agrees to this. POG currently have un-utilised capacity, but cutting off future growth especially of own material through floatation is not in POG's best interest, but that wont stop him if his own personal position is in play.
How does this external threat weight against the cavalier/idiotic approach of the current team to PI interests, I am not honestly sure? Caught between the devil and the deep blue sea.
That’s why wait and see is the best approach.

David was right, but for the wrong reasons. PM are going up, they are on a trend driven by ultra low interest rates crossed with normalising to rising inflation.
Face it thats the only reason you buy gold miners. If you want a good business, you buy P&G.