RE: ES12 Jul 2020 13:51
Thanks CofE & Rheingold for articles
It is because PM manages POG as a family company, i.e. also over the long term that he initiated the construction of the POX. After seeing the gates of Hell up close, POG is becoming a success story. So, UGC disputes PM's results without a precise explanation, that's fine; This is precisely the angle of attack that the most naïve of shareholders cannot believe.
I think we say in this situation " Give a dog a bad name, and hang him"
The figures for the first half of 2020 should soon help to make this clear. I hope and think that we will be able to congratulate all POG employees.
Nor the issue of dividends does not hold. If your shares double in less than a year; So what prevents you from selling 1 or 2% of your stake to make up for the lack of a dividend? (this is a bit like the test case of Amazon). The first thing you learn in business school is that the biggest risk is the lack of working capital for a company that growing very quickly.
Conversely, if you want to bleed POG, then ask for a dividend. Try to reduce its profitability (by disorganizing its management for example, or by getting POG to refine ore from third party at a bad price). And pray that there will be difficulties in the next refinancing of the bonds ...
So a takeover could well be done in two stages by weakening POG first.
It's a shame to have reason to fear for POG , at the very moment when the POG stake should become a rock-solid investment.
What I would like is that in case there are still undecided shareholders (regarding voting and the choice of vote itself) is that we can know in advance the voting intentions of the other major shareholders. I am thinking of Norges Bank in particular, which is supposed ethical.
Whether you are voting one way or the other, please, vote. POG should be promised a bright future. But what POG will become could very well be played out in the vote of the next EGM.
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