Petropavlovsk Share Discussion Threads

[midasx] 18/7/2017 07:25

Nothing not to like !



n 19% yoy increase in physical volumes of gold sold

n 5% increase in average realised gold price

n 5% reduction in net debt as at 30 June 2017

[popeye888] 18/7/2017 07:16

H1 2017 Highlights and FY 2017 Outlook

Production
n 19% yoy increase in H1 total gold production - c.232,400oz vs c.195,600oz in H1 2016
n Production forecast for full year production of c.420,000 - 460,000oz reconfirmed
n From the beginning of 2017, the Company moved to using gold poured as the definition for production.

Gold Sales
n 19% yoy increase in physical volumes of gold sold - c.231,800oz vs H1 2016 c.195,400oz
n 5% increase in average realised gold price - US$1,255/oz, vs H1 2016 US$1,194/oz
n As at 30 June 2017, the Group had outstanding hedging contracts for 500koz of gold at an average price of US$1,252/oz

Net Debt
n 5% reduction in net debt as at 30 June 2017 - c.US$570m (preliminary unaudited) from US$599m as at 31 December 2016

[stoopid] 17/7/2017 22:49

GRB, I suppose it was the logical thing really? How can he stay with the new guard on board?He would become just a puppet and have to do what he was told. The question is, are the rules preventing him and Hambro from selling out or are they waiting because the business really is on a firm footing and on the up?Any D for E or rights issue would surely wipe their holdings out so it would make sense to sell??

[grbaker] 17/7/2017 21:39

Didn't see that one coming...

[officehead] 17/7/2017 19:41

I hope there is something in tomorrows trading statement from the new chairman that gives some confidence and insight into what the new boards planning to do.If governance was the reason for the boardroom coup,lets see how they are going to tighten things up!!!. Just keeping my fingers cross that Ashby has some real integrity in his role and is not just a puppet for the corporate raiders. His background suggests he is highly thought of, so I still retain some hope......I have very real doubts!!

[stoopid] 17/7/2017 18:35

A positive is that he intends to remain a shareholder along with Hambro although with his inside knowledge the rules may prohibit him and Hambro from selling for a period of time....

[stoopid] 17/7/2017 18:16

Board clear out now complete.....

[stoopid] 17/7/2017 18:11

Hmm interesting isn't how I would put it.....

[dan554] 17/7/2017 18:03

Interesting turn of events.

[popeye888] 17/7/2017 17:48

The Board of Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") announces that Dr Pavel Maslovskiy has today resigned from the Board with immediate effect and is also resigning as CEO of the Company. The Board expects to announce an interim CEO shortly. Dr Pavel Maslovskiy has agreed to continue to assist the Company in facilitating a smooth transition to the new leadership.

[peterg40] 11/7/2017 08:31

Stooped...exactly,we will never be privy to Company actions until they have been announced by the Company as we are complete outsiders, however it is encouraging to me that PH,who is now in the sameboat as all of us, decided to hold tight.He obviously, for whatever reasons best known to him, sees an upside here.I also took comfort during the refinancing period, when Dr Pavel gave up his seat in the Senate, and returned to the Board, which he is still on as CEO.

[stoopid] 11/7/2017 08:09

Well, maybe he will have been given some assurances about the direction the business will take, you never know what goes on behind closed doors.

[grbaker] 10/7/2017 19:02

Still holding myself. What will the new board do..? That's the concern for me. At least Mr Hambro is (apparently) going to hold on to his shares.

GLA.

[stoopid] 07/7/2017 22:16

Heh, who was whinging about the hedge at $1252?? Seems like good business over the last 5 months......

[uncle_sam] 06/7/2017 19:41

With such a ref to both puts and calls, plus ref to voting rights and "nice words" coming back from Maslovskiy, my recent opinion that this is now a trading share rather than a rebound story is reinforced.
However, a cautious voice reminds me that this could still be a classic Russian doll, with further ever shrinking duplicate images of itself inside ...

[popeye888] 06/7/2017 17:04

Very positive news I think.

Mr. Hambro was party to a put and call option over 131,830,466 Ordinary Shares of £0.01 in the Company (the "Shares") and also had the ability to exercise voting rights over these Shares (the "Option"). The Option has lapsed on 30 June 2017, with neither party choosing to exercise their put and call. The voting rights that Mr. Hambro had over the Shares also lapsed on that date. Mr. Hambro wished to inform the Company that he is in discussions regarding the entry into a new option agreement consisting of a put, call and voting rights in respect of Petropavlovsk shares.

Commenting on the statement Dr. Pavel Maslovskiy, CEO, said:
"I am honoured that the co-founder of Petropavlovsk and my business partner of many years Mr. Hambro intends to maintain his investment in the Company. We are grateful for his continued support and faith in the business."

[m_n_tomlinson] 04/7/2017 15:13

Still here, none the wiser.

I can only assume Prudential know what they're doing, and Hambro won't give up his shares so easily...

Otherwise it's just wait and see for me...

[davidlloyd] 04/7/2017 13:49

Thanks all - Yep - pretty much where I see it, which is 'we know not where'.....
However, they have IMO moved in the right direction to address 'all key issues' and on balance feel it is better to be in than out, as I cant see much down side (famous last words)....I continue to hold and will top up on dips..

GLA

DL

[cliffo2] 04/7/2017 13:45

I'm still here, watching and waiting. Have not sold any and will stick around to see what happens. Now that the new board is in situ, I don't foresee the same 'management' of the share price that we have seen as their goal as been achieved. It really now depends on how it fares for PIs through any mergers / acquisitions / equity issues / consolidations etc.
VV will want access to POX for his suitable gold interests so that will be high on the agenda I would think.
The recent price drop I see purely as a reaction of those most disenchanted selling plus traders predicting a fall (now buying back in).

[gilotron] 04/7/2017 13:11

Well after many years on the sidelines here I've bought back in. Those assets are undervalued, lets hope the new lot can sort out this debt.

[2willfor] 04/7/2017 12:33

I'm and possibly every on else is waiting for some news from the new Board, hopefully not bad news.

[juju44] 04/7/2017 12:30

Well it was a lost cause under Hambro so it cant get worse. I am not a long termer but bought a few when I saw how the wind was blowing. Big assets but needs decent management

[stoopid] 04/7/2017 12:28

Tbh, no idea, the "new" board will be mulling things over and the half yearly report is due soon. It's a case of hurry up and wait.

[davidlloyd] 04/7/2017 12:25

Any long timers still about and just being silent? Interested in thoughts/expectations as to where this is now headed.....

DL