Petropavlovsk Share Discussion Threads

[robertstronghand] 31/10/2020 10:05

The paltry growth in cash and where has it been going is why a majority of shareholders thought management needed changing and why a forensic investigation is proposed, and I am bemused why you think H1 is a basis with which to bash the new management. The FY figures, and really next year's, will be when we start to gain a clearer picture of where this company is. The new management has made clear that they have the funds to pay the convertible bond payments, thankfully much lower due to conversion, and access to further funds for the bond payments. The money being illegally held back will be recovered in due course. If further funds are required I doubt they will be on similar terms to the crippling debt the previous management was so fond of.

[robertstronghand] 31/10/2020 09:54

I don't see anything Strukov has done that deserves condemnation, if there was I would condemn him. Initially I thought the manner in which the management was booted was wrong, even if the intention was right, clearly though the shareholders who went with that method have been proven right. That illegal delay for a month has proven costly and I should hope there will be legal ramifications for those involved.

[undervaluedassets] 30/10/2020 16:19

Midas. The share price tells you everything you need to know.

[weemonkey] 30/10/2020 16:14

Hang on a minute before we all kill ourselves. Operating profits went up by 52 times. (5740%!) Cash generated from operations up 214% It ain't that bad. Few wrinkles to be sorted out on the ranch and a bit of disorder amongst the rank and file. But the fact remains that these are performing gold mining assets. These results fall into weird times and a weird context and yes they are late. But 6 months ago these same results would have sent the share price up 20% . It ain't that bad.

[midasx] 30/10/2020 16:03

You are a bit thick UVA! But keep on de-ramping!

[undervaluedassets] 30/10/2020 15:34

been comparing the H1 2020 numbers with H1 2019 numbers from the RNS from on 10/09/19 and it is really hard because some of the numbers do not tally. Some the 2019 number in todays report do not tally with those from the half year report on 10/09/19. Really annoying I am assuming some were unaudited. hence the changes. It dont look good anyway..take a look https://uk.advfn.com/stock-market/london/petropavlovsk-POG/share-news/Petropavlovsk-PLC-Half-Year-Report/80693906 They do not match

[undervaluedassets] 30/10/2020 15:19

thank you wilmot i am just fine but bless you for your concern

[wilmot666] 30/10/2020 14:59

Undervaluedassets - I can't figure out if you are deliberately deramping or simply don't understand how to read an RNS. If the later are you confident that investing in shares is for you? Maybe a fund or cash ISA would be more appropriate?

[undervaluedassets] 30/10/2020 14:29

Did anyone attempt to work out EPS here ? of whatever flavour ...normalised, pro former, reported? EPS notable for their absence in these results.. I know we have EBItda but I am always dubious

[undervaluedassets] 30/10/2020 14:06

Ref 30 June 2020 31 December US$'000 2019 US$'000 ----- ------------- ------------ Cash and cash equivalents SFP 73,458 48,153 Borrowings SFP (611,436) (609,463) paltry growth in cash.. considering growth in operating profit ... still not sure I understand where it has all gone.

[weemonkey] 30/10/2020 13:46

RobertSH you defend the indefensible - Strukov.

[troy] 30/10/2020 11:24

No I don't steve. Roberts made some valid points about Pavel....... and he's right...it's done, and the company has to move on. I'm also intrigued to see what (if anything) the Pavel era might, or might not be, trying to hide from a "forensic" investigation. If truth were known, they're all probably as corrupt as each other. Old board and new.

[robertstronghand] 30/10/2020 11:14

Have I touched a nerve Steve? I don't see how anyone can continue to defend Pavel.

[stevea171] 30/10/2020 11:10

Anyone else consider RSH to be a paid for company plant to come on here?

[undervaluedassets] 30/10/2020 11:07

"The Company relies on cash flows from certain Russian subsidiaries to secure repayments under its debt obligations and other ongoing expenses as they fall due. The lack of co-operation from some employees and ex-employees in certain of the Russian subsidiaries as described above has led to delays in receiving cash from those subsidiaries in circumstances where those subsidiaries have not complied fully with the requests of the Company for funds. The Company has received sufficient cash to enable it to meet its October 2020 payment obligations under US$125 million Convertible Bonds and expects to receive cash required to meet its November 2020 payment obligations under US$500 million Guaranteed Notes. The Company is seeking additional external funding sources to meet its obligations in the event that future funding from the Russian subsidiaries is not received." I have to come back to this.. it's like:- I had a really good year last year and made loads of money but I can't pay the mortgage cos my wife has somehow taken over the bank accounts and won't give me access to our money so I going to have to borrow in the interim to even pay the bills. No wonder the dividend is only talk

[robertstronghand] 30/10/2020 11:05

Certainly those who criticised how the various shareholders went about changing the management have been exposed as naive dupes at best. Gold remains in the bullish descending wedge, USD rallying on expectation of a Trump victory with Biden having to campaign in Minnesota.

[robertstronghand] 30/10/2020 10:57

Good solid results, next year will be when we benefit from the new management and changes introduced though. Pavel showing his true colours again, never did have much regard for shareholders. I am sure the usual posters will defend his behaviour.

[stevea171] 30/10/2020 10:45

Sold out of the new holding this morning as the accounts are not transparent as usual and take more interpretation than I am capable of. Underlying $100 million profit but that is not what is shown. To what extent, if any, this is a kitchen sink exercise I can't say. I listened to the webcast but got little clarity from that. Until POG start producing clear sets of figures then only accountants can do the mental gymnastics to understand this company. Also next Tuesday US election. I don't want to be trapped here when/if all hell breaks out ....

[undervaluedassets] 30/10/2020 09:56

Yes bubloo - very stage managed - why no telephone questions? Oh no no no. We will pick and choose the questions we want to answer. to quote Trump.. no "nasty questions"

[undervaluedassets] 30/10/2020 09:56

Further, some individuals, in particular Sergey Ermolenko and Alexey Maslovskiy (Pavel Maslovskiy's son) are pursuing litigation in Russia against certain of the Company's subsidiaries. This litigation, which has no proper legal basis, has arisen principally as a result of the Company's efforts to undo actions taken in June and July of this year, when a few key Russian subsidiaries changed their constitutional arrangements. These changes took place without the knowledge of the current Board, and apparently at the direction of Pavel Maslovskiy. no doubt there will be RNSs to look forward to regarding litigation.

[bubloo] 30/10/2020 09:50

they never answered my question and said since no more questions and closed the event.I think since Mr strukov's other gold companies have a large store of refractory ores which POG are likely to buy as third party concentrate they are bumping up the cost of the third party ores so he can make a cool profit on those. We were made to believe that was the primary reason he snooped on POG and its pox hub. Sneaky guys. I do not think they they would invested millions in pox hub if the pain was the margin of profit was as less as 50 dollars that they made us believe today

[bubloo] 30/10/2020 09:45

they are making just 50 dollars profit on processing third party ores. is that not appalling

[bocase] 30/10/2020 09:38

A non event!!