Petropavlovsk Share Discussion Threads

[m_n_tomlinson] 04/4/2017 10:01

What tree shake were you hoping for wallywoo? We had one at 5.7p a couple of weeks back!

[wallywoo] 04/4/2017 09:47

another day, another 6 to 7% up. Boring really. The tree shake still not coming. Very unusual. At this rate we will be testing the 9p 2 yr high level tomorrow.

[grbaker] 04/4/2017 09:40

Latest holdings .pdf now on POG's website:



Renova unchanged at 14.76%; Lamesa up to 10.0428% as per most recent holdings RNS.

[tsmith2] 04/4/2017 09:36

Holding statements will be interesting.If settle for a 20p bid..

[deanroberthunt] 04/4/2017 09:22

paid 6.4p just a couple of days ago, up 2p

[3dwd] 04/4/2017 09:19

A good Trump v Korea trade !

[davidlloyd] 04/4/2017 06:51

{WOOF}

DL

[deanroberthunt] 04/4/2017 05:37

well well, there's life in the old POG yet....

[cliffo2] 03/4/2017 22:58

Well, so long as VV has got his buying boots on it can only go one way from here in the near term.

[johnny1982] 03/4/2017 22:29

What do you reckon go all in and average way way down (holder since $9 and bought a few along the way, but well underwater)

[gilotron] 03/4/2017 21:33

Wowser is this a buyout happening? I would buy into pog again if I thought someone more sensible was in control who could just remove all that debt!

[davidlloyd] 03/4/2017 19:51

Late reported trade of 10million or so.....
DL

[3dwd] 03/4/2017 17:13

Gold also looking firm .. stake builder ..seems fairly interesting..

[stoopid] 03/4/2017 16:10

On a boring news day with the markets generally flat, a 15% - 20% rise in approx 3 days will be talked about in the press.Keep an eye out for any musings....

[celeritas] 03/4/2017 15:57

Any shareholder that acquires shares that control 30 per cent or more of the voting rights in a company must make a cash offer to the remaining shareholders of the company. The price has to be at or above the highest price it paid in the last 12 months when acquiring those shares.

This will be a huge prize for Renova, debt will simply be consolidated. I bet they cant believe how cheap this is.

[celeritas] 03/4/2017 15:54

So circa 6.5% to go before maybe an offer, interesting times.

[celeritas] 03/4/2017 15:41

Lamesa are a Renova unit.

[grbaker] 03/4/2017 15:39

Found this, but otherwise the Internet seems to be a bit of black hole as far as Lamesa goes (it's off topic for POG though):

"
15.06.2015

Züblin Immobilien Holding AG
The Swiss Takeover Board has granted an exemption of the duty to make an offer for reorganization purposes regarding Züblin Real Estate Holding Ltd. for Lamesa Holding S.A., Lamesa Group Holding S.A., Lamesa Foundation, Lamesa Group Inc. and Victor F. Vekselberg.
"

[celeritas] 03/4/2017 15:37

The strategy of Renova Group is targeted at the acquisition of assets in industries with significant growth and consolidation potential. The Group aims to invest in large projects where there is an opportunity to take up control and engage in managing such projects in order to drive value creation. Renova Group’s strategic focus is on partnerships and alliances that enable maximization of the effect of joint investments.

[stoopid] 03/4/2017 15:18

Probably shenanigans going on behind the scenes GRB.Who knows what's going on behind the closed boardroom doors. I would reckon Hambro will be gone soon, they will want new blood in. I'm sure we will find out in short order what's going on.....Stake building like this must mean something.....

[grbaker] 03/4/2017 15:17

IRC has also released some results. Here's the first page:

"
Friday 31 March 2017: The Board of Directors of IRC Limited (“IRC” or the “Company”, together with its subsidiaries, the “Group”) is pleased to announce the annual results of the Company for the year ended 31 December 2016.

KEY HIGHLIGHTS

Financials
• Net loss reduced by 96% to US$18.2 million (31 December 2015: US$509.0 million)
• Underlying results excluding impairment charges reduced by 37% to US$18.2 million (31 December 2015: US$28.9 million)
• Overall cost reduced by 67% to US$35.2 million (31 December 2015: US$106.7 million)

Corporate
• Successfully completed equity fundraising of US$25 million with a core investor
• Amicable settlement with CNEEC, received cash compensation of US$4.5 million and outstanding
construction payment liability reduced by US$3.9 million

Operations
• K&S began shipments to customers in China – products well received with good market demand
• Care and maintenance process satisfactory in Kuranakh, assessing feasibility of re-opening and
other options

Commenting on the results, Yury Makarov, Chief Executive Officer of IRC said, “IRC is now in the final stage of transforming into a high-growth, low-cost, pure-play iron ore producer. As we are announcing our results, K&S is already cashflow positive and has been since the beginning of 2017. In the next few months, K&S will become an even more attractive world-class asset as it ramps up to its full production capacity. We remain confident in delivering K&S at full operating capacity as scheduled.

2016 saw a series of major milestones being achieved. It was a year of many “firsts” for K&S – first ore produced, first thousand tonnes and most importantly first shipment to customers. These firsts represent our tremendous efforts and the progress we have made during the year. Also, we did an excellent job in costcontrol. This is the third year running where overall costs have decreased despite the growth of the Group.

In addition, we are blessed to receive support from our lenders, new investors and contractors. Special thanks are owed to our major lender, ICBC, who not only granted us waivers to comply with certain financial covenants and to maintain certain cash deposits, but also agreed to provide repayment holidays under the K&S financing facility.

In 2016, the commodities market showed strong signs of recovery, with year-end iron ore price finishing up more than 80% year-on-year. We also note that there is an increasing demand towards high grade iron ore, as a result of China’s policies of increasing the efficiencies of its steel industry, which is reflected in the US$12-13 per tonne premium between benchmark 62% Index and 65% Index. For K&S, being a high grade iron ore concentrates producer, that is an additional benefit.

2017 will be a year of transformation for IRC and it is time for all stakeholders to reap the rewards of many years of hard work. We would like to thank our team for their hard work in the past years, and we wish to extend our gratitude to our shareholders, for your patience and ongoing support in IRC.”
"



There's also a presentation .pdf here:

[grbaker] 03/4/2017 15:09

Mind you, a takeover at these prices could be quite bad for some of us long term holders; who have been stuck in this stock for years... Many holders may well need prices north of 30p to break even.

I am amazed that there is no comment from POG's management on Renova's holding (even if it is spread between a couple of different entities).

[grbaker] 03/4/2017 14:59

Renova now up to:

813,538,198 / 24.8% approx.

(483,992,987 / 14.76% = Renova/Columbus + 329,545,211 / 10.0428% = Lamesa).


( POG hasn't updated their figures with the latest Renova/Lamesa purchase yet:

)

GLA.



grbaker31 Mar '17 - 10:08 - 46244 of 46264

etc.

Renova Assets Ltd
Renova Holding Ltd
TZ Columbus Services Limited (as
trustee for Columbus Trust)

No of Shares: 483,992,987 / 14.76%
Convertible Bonds: 0 / 0%
A. Total number of voting rights: 483,992,987 / 14.76%


etc.

Now, assuming there is no change to the Renova Assets/Holding and TZ Columbus/Trust holding listed above, Renova today controls (changes marked bold):

A. As above (483,992,987 / 14.76%)

Polo Company S.A. (f)
Lamesa Group Holding S.A.
Lamesa Foundation

No of Shares: 59,400,693 / 1.8102%
Convertible Bonds: 225,674,382 / 6.88%
C. Total number of voting rights: 285,075,075 / 8.69%

( Source: )


Grand Total of Voting Rights Under the Control of Renova therefore:
(A + C) = 483,992,987 / 14.76% + 285,075,075 / 8.69% = 769,068,062 / 23.45%


If anybody spots an errors in the above, please post!

GLA.