Member Info for workingstiff

Why would anyone (including the directors of the company) want to buy these shares now? - Relations between Russia and the West are as bad as they have been for more than 30 years. - Much has been promised - POX Hub, high grade underground mining, but is yet to be delivered. - If IRC fail to make their next debt repayment (July?), then as things stand POG are faced with a terminal debt call. Jay Hambro has been talking up IRC recently - what he fails to mention is that his $100m+ profit is still a loss in operating terms. In any case looking at their share price it seems that nobody believes him. The guy is as full of BS as his father was. If you are on the outside, this is not a period to invest in POG. This is a period to wait and see, which is exactly what the current share price is telling us.

I can only see this happening if another miner decided to acquire IRC, and needed POG's shares to complete the deal successfully. If this company was sufficiently large and financially secure to take over the debt guarantee I can't see that ICBC would stand in the way. If this white knight were to appear I think it is likely that it would be Chinese, with an existing relationship with the bank. I like that Rakishev has raised this issue. For too long it has been the elephant in the room.

Centamin - which produced about 100k oz more than us last year has a market cap of around �2bn. Admittedly it is debt free, but if things go well this year �1bn might be achievable.

...... good one. The $ slide is helping. Gold at $1351 as I write. Looking at the gold miners in general it doesn't look as if the market has quite bought into the rise - yet.

If gold keeps motoring we'll be taken over before your 37 weeks are up

Contrarian - so what should we be saying? If you have a positive spin on this let's hear it.

This from Mining Weekly - "The Interfax news agency reported that the 22% stake in Petropavlovsk was purchased by Kazakh businessman Kenges Rakishev, the former largest shareholder in Kazakhstan's Kazkommertsbank and a co-owner of Kazakhstan-focused base metals producer Central Asia Metals via his Cyprus-based firm Fincraft Holdings."

Reuters have put out a brief note about the disposal - https://www.reuters.com/article/us-russia-petropavlovsk-renova/renova-sells-its-stake-in-russian-gold-miner-petropavlovsk-idUSKBN1EL188?rpc=401& No reason for the disosal is given. Rather unsettling

Nothing from the board. Previously they promised us a more specific estimate of 2017 production, and should have given us confirmation as to what they did with the money raised.

Sorrry to hear your news Lawrence. I hope things go as well as they can for your mother in the coming period.

"Suggestions for this ongoing phenomenon welcome". I'll have a go - 1 Gold has been trading in a narrow $50 dollar range for a few months 2 POG is now in profit, and at around �270m is cheap compared to the market, so this underpins the SP. I think the bias is up but it is being held back by points 3, 4, and 5 below. 3 After the production update in mid October the SP seemed to gain some traction, only to be knocked back by the refinancing announcements. It's hard to say whether this was an engineered or unintended consequence. I can see arguments for both. 4 Just now there is a lot of noise around the notion that Bitcoin is replacing gold as the "risk off" asset trade. This will make potential mining investors hesitate. 5 The price of gold is mainly determined by the action of the US futures market. The prospect of the booming US stock market being further fuelled by tax cuts, and the prospect of Fed raising interest rates next week are short term headwinds for the gold price. Again potential investors will wait and see. At some point the company will have to come back and tell us what they did with the new money and what their final production estimate for the year is. We might see some action then.

If you go back through the posts you'll find Kenj gave us the chapter and verse on this. From memory I think the company can compulsorily purchase the bonds after that date but they have to pay 1.5 times the face value.

Uncertain - if you are asking if anyone believes you assertion that the sp is being held back by the convertible bonds - then yes I agree with you, as I has said here before.

Thanks

Contrarian - your push / pull / consolidation theory seems to describe what has been happening with the gold price recently. Do you have a view as to where that is going?

There should be an update soon on what they have done with the note money, and they us promised a final projection for 2017 production numbers. Perhaps this will do something for the sp.

B is a speculative rather than investment grade. The definition is - B: An obligor rated 'B' is more vulnerable than the obligors rated 'BB', but the obligor currently has the capacity to meet its financial commitments. Adverse business, financial, or economic conditions will likely impair the obligor's capacity or willingness to meet its financial commitments.

Yep. No question. It's a better company to lend money to than it is to own.

that, at the moment, not one of the directors or senior managers hold as many shares in the company as I do. At least Pete and Pav had some skin in the game.

Thanks. They have drowned us in detail.