Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Strange,
gold loses 2.7% and POG is up 0.35%
POG doesn't know where the South is anymore !?
Rusty, You could be right
small clarification on the evolution of the debt:
"As at 31 December 2019, the Group had gross borrowings of US$224.6 million (31 December 2018: US$223.7 million), mainly represents the new long- term borrowing drawn from the Gazprombank loan facility"
"The total debt
outstanding as of 31 December 2020 amounted to c.US$203.9 million, all of which represents the loans from Gazprombank."
Total : - $20m !?
Anyway, there is not enough cash for faster deleveraging
Virtually not making money, nor paying off the debt at the moment; It's incomprehensible. They do not lack self-confidence with the curve that explains (us) that the price per tonne has doubled.
this does not really deviate from the retiredbanker theory, which is, the more IRC digs, the more money we lose
It will be good to strengthen the auditors team to add IRC to the list.
I look forward to hearing Mr Malay Mukherjee, Independent Non-Executive Director . I'd like to move his office, please, to IRC until we can make money. Maybe he will be a providential man
Strange, gold drops slightly and POG seems not to follow the trend; Good omen for tomorrow?
I think the surprise could come over from IRC by not losing any more money for the first time
RetiredBanker, as far as I can remember, POG bought flotation concentrate in advance and store it to be processed in 2020
We small shareholders were we the only ones who didn't know how Strukov convinced the big shareholders
Does this have anything to do with all of this?
Merry Xmas all, Rusty, ..., new CEO included
All the best
it's a big incentive if it's every two years (I hope not ; anyway 2 years is a really long term in our case) ; Otherwise it seems wise and useful (or necessary)
There is still a lot to do and strategic decisions to make
Considering that he is the right man, it is very good news that POG has put the means for this hiring.
Also, if you credit some of the increase in the stock since the appointment, it is interesting to compare the cost and the increase in market capitalization.
Just good news. It would be nice to have more news, for example regarding the rate of use of POX, just to make us wait.
The vacant position of CEO could become now attractive to successful candidates. Especially if it's well paid. And this question is more important to me whether or not to have dividends
Coincidence? Opportunity? Denis Alexandrov of Highland Gold Mining resigned
Let's see what happens
The news is neither good nor bad.
KPMG's choice is positive except probably for the cost. we are moving forward. This gives the new Board the means to prove what Strukov claimed. Or not !
IRC shares seem to be reacting well: 11% today
I didn't think I'd ever have an explanation about the Temi and IRC (buying and selling projects, "bridge" game changer that never happened while iron ore prices have risen by infinitely more than 5USD)
If you say so !
We could have used that money to recruit a real good CEO.
Bondholders make no concessions
To sum up in a simplistic way; those who voted to replace the Board are responsible for this penalty and are for some beneficiaries of the penalty. Quite the opposite of many small shareholders. Outrageous !
Let these investors not tell us about ethics
Part of the explanation is the exchange rate
Today RUBGBP -0.54%
Iron 65% Fe Fines Ore in China: up 34.8% since 30 June
Positive if IRC didn't edge all production
With all this negativity, I think it's a good sign to see the share price rise so much. Russian shareholders appear to be a great reservoir of growth. Tuesday will tell.
We may also be able to obtain more detail and transparency on IRC's situation with Mr. Mukherjee. I think IRC will make money for the first time at Semester2 (without selling a helicopter this time, I mean) ; the price of iron ore 65% on the market is currently (July /August) about 20% (120-125$) more expensive than for Sem1. If this is not the case, or if it is not in POG's interest to keep IRC, Mukherjee will find us a buyer, an Indian buyer
To report the excellent results on the historic day when the ounce reaches 1900 (fingers crossed)
Brilliant!
You really have to be crazy to want to change the POG team (except for reasons not very honest & fair) .
In fact, apart from a team of predators, no shareholder wants that
Thanks to this team even if they don't read this board
SP seem to be correlated with the US$200,000 converted bonds announcement.
I won't be surprised to see other conversions ; which is more likely to be a good thing than a bad one
Prices --> Iron Ore 65% Fe Futures Aug 2020
Good news.
UpDownFlat, You're not wrong. It was about 95USD/tonne on average for 1 year (which was already rather good). It is now at its highest at 120USD/tonne.
The impact of the increasing market price should be greater than the expected 5USD/t (+ improving logistics) of this famous bridge.
On the other hand, these assets will no longer scare potential hostile shareholders at all
Instead of presenting a risk, IRC wouldn't even become the icing on the cake?
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.