Petropavlovsk Share Discussion Threads

[losses] 05/6/2018 08:23

Revolt at Petropavlovsk widens as mine managers appeal for board's oustinghttps://uk.finance.yahoo.com/news/revolt-petropavlovsk-widens-mine-managers-165856477.html

[book5] 04/6/2018 21:53

BUFFETT...., bambo1, .. etc

Take it Easy:

[officehead] 04/6/2018 21:18

Dear shareholders!

We, the undersigned heads and employees of the enterprises of the Petropavlovsk Group of Companies, on the eve of the Annual Meeting of Shareholders, on which the issue of the composition of the group's Board of Directors has been raised, are asking you to support the proposal for the return of PA. Maslovsky, Sir Roderick Lyne and Robert Jenkins in the board of directors of the company.

Already throughout the year, Petropavlovsk has no strategic leadership. The company continues to solve production and financial problems mainly by inertia, and in large part due to the fact that temporarily headed the company S.E. Ermolenko managed to maintain the operational management, deeply familiar with the work of "Petropavlovsk" enjoying the confidence and respect of the work collective. Now the inertia is running out, the company is losing valuable personnel and, in our opinion, the situation is approaching the crisis. It is our deep conviction that the vast experience and knowledge of Pavel Maslovsky and his colleagues needs Petropavlovsk today more than ever. In the light of the large-scale task facing Petropavlovsk-building and launching the second and largest autoclave gold mining complex in Russia, the price of administrative miscalculations and experiments,

Dear shareholders! We ask you to make a balanced and correct decision and return to the leadership of people who have proved their professionalism and effectiveness in our company. They have a strategic vision and competence to implement it. Understanding the work not only of industry and enterprise, but also, importantly, the specifics of working in Russia. Such experience was possessed by the long-term chairman of the board of directors of the company Peter Hambro. Deeply knows Russia and Sir Roderick Lyne, who devoted many years to diplomatic work in Russia.

We believe that all of us are united by the desire for success of Petropavlovsk! Therefore, the confusion, unpredictability and lack of trust will stop already in the near future, with the return to the company management of the people with whom its achievements are linked.

Yours sincerely, the undersigned
General Director of JSC Petropavlovsk CC SE Ermolenko
Chief Engineer of JSC UK Petropavlovsk VN Alekseyev
General Director of Pokrovsky Rudnik JSC AV Biryukov
Deputy General Director - Head of Pokrovsky Autoclave- hydrometallurgical plant of Pokrovsky Rudnik JSC A.Afanasyev
General Director of Albynsky Rudnik LLC A.Papka
General Director of OOO Malomyrsky Rudnik A.V. Kochubei

Employees of GC "Petropavlovsk". In all - more than 50 signatories.

hxxp://www.teleport2001.ru/news/2018-06-04/102473-pismo-akcioneram-gruppy-kompaniy-petropavlovsk.html

[wigwammer] 04/6/2018 18:57

The vast likelihood is is that nobody has ever been paid to post on this board. Nobody here is responsible for your losses - except you :)

[bambo1] 04/6/2018 17:20

The good news is that all of my stocks are up today with the exception of only one. The bad news is, as usual it's this one.

And the other thing that has not changed in 7 years is that there are still at least two people being paid to post on here.

[wigwammer] 04/6/2018 11:47

As with all stocks there is an uncertainty - but here it is not whether the assets are valuable or the business promising, but whether the debt can be appropriately structured and paid off. It is in the interests of all major stakeholders to find a way forward - the company, the workers, the government, the banks, the shareholders - hence I think it will happen. There is a good chance that in 5 years time, the full debt including the IRC element, is paid off in full out of free cash flow. The reward to shareholders across that period where debt converts to equity could be substantial. I own shares btw so please DYOR.

[route1] 04/6/2018 09:36

Good post, good point made; onlyserves to confirm that we are all Masters of our OWN destiny.

[wigwammer] 04/6/2018 09:32

It has been demonstrated in countless studies that stocks which underperform over time have a tendency to outperform over future periods. If a holder owns a stock that is falling, the focus of consideration should be - has the story changed? As far as I can see here, the positive inflection point is getting closer and closer, not further away. Combined with the point that the price is lower, suggests people should be buying rather than selling, IMO.

[bo doodak] 03/6/2018 16:50

Better to focus more on the nature of the nonlinear relationship between losses and the required subsequent gain needed to recover from losses, such that as a loss gets bigger the gain required to restore the loss increases at an increasing rate.

hxxps://www.bogleheads.org/wiki/Percentage_gain_and_loss

We all make mistakes, and must embrace that fact. Investors need to learn to sell before a loss get too big to recover from, and all that is left is hope.

[wigwammer] 03/6/2018 12:24

The point that you own the stock but suggest it will only move negatively confirms that you are the dimwit. Express all the frustration you want - the only muppet responsible for purchasing your position at multiples of the current price is you :)

[wigwammer] 02/6/2018 23:35

Hi bambo. So you hold the shares and speak negatively, and your not selling, but you don't encourage buying. Conviction stuff. So the practicable advice one can garner from your posts equates to... erm... sweet FA :)

[bambo1] 02/6/2018 00:55

Wigwammer - This must be why all the Pog directors are buying 100's of 1000's of £ of share in the company that they are managing is it. You obviously know more about the future of Pog than any of the director and big investors. I imagine you and book5 are buying big at the moment, but I don't know if you have noticed, but the share price only seems to go down, but yes it has only dropped every year for 7 years and not by any significant amount. So yes good old Pog and it's directors and Wigwammer and book5 we are doing great.

[book5] 01/6/2018 08:43

Wigwammer
Well said!

[bambo1] 01/6/2018 02:26

Stoopid - I'm amazed this hasn't before now, but if there were a perfect time to do it, now would be that time. Could be a good time to move into the business of Hitman as there could be a lot of business to be had shortly.

[wigwammer] 31/5/2018 22:19

"These options include our previously announced discussions regarding the full refinancing of the ICBC facility with a leading Russian lender.." Sounds sensible. POG is on the verge of generating high levels of free cash flow. There may be more than one lender interested given surety of repayment - making refinancing rates competitive. Once the debt is being paid back the shares will multiply as the market discounts a debt free highly cash generative and growing asset. No wonder everyone with the inside track wants to take control now - they all know the company is on the verge of success and want to be as close to it as possible.

[stoopid] 31/5/2018 16:10

Bambo if POG where to go down, then it would only be the shareholders that get screwed.The assets would be sold out of the company to anyone wanting them at whatever price could be generated. The POG "shell" company would be left with no assets in it except the money generated by the liquidators for selling the assets. The money in the shell would then be used to pay the senior Debt holders i.e the bond holders as they are the senior debt. Whatever was be left, (adsolitly nothing), including any unpaid debt would be returned to shareholders i.e nothing.And voila, there is exactly the same company in exactly the same place with new private owners and no debt burdens. A clean company again without the onerous PIs and debt.

[stoopid] 31/5/2018 16:00

Galeforce, excellent post and spot on with one caveat....I wouldn't say PIs can trust those that are trying to replace the current board any more than the current puppets. They will do whatever is necessary and wipe shareholders out if that is required to save the company.POG have shuffled from one mess to another in the last 3 years since the rights issue. Also, there is obviously something going on behind the scenes in relation to the strategic future of POG.All of this plus POGs current financial woes would appear to be why the share price goes nowhere and no institution, fund or big investor appear to be willing to risk a punt/invest.

[bambo1] 31/5/2018 13:02

Are we looking to go sub 6p. The chart for the last 6 months is dramatically bad. The share price does not seem to be able to find the bottom and just keeps falling.
This is without doubt the worst investment I have ever made but I can't let go after suffering many years of huge losses. Anyone know where I can buy a gun.

[galeforce1] 31/5/2018 11:12

Bcomms -

I understand your need to lobby for your client, but it's ridiculous to try and claim the moral high-ground for the current board.

The current board was appointed 12 months ago by Viktor Vekselberg. They are a bunch of paid-up place-men, put there to do exactly what they were told by their oligarch puppet-master. That's also Bruce Buck's function at Chelsea FC for Abramovich.

And where is the evidence of the massive progress that this current board have made in the last 12 months? The share price has fallen, the Q1 2018 production figures were lower than a year previously. Nothing has been done to anticipate the now serious cash-flow problems at IRC. All big mistakes.

The only achievement has been floating the $500m 5-year note, and that was set up by the previous Board.

SO my view is that POG is better off without them, and better with Rakishev (who has done so well for shareholders at CAML) and the old board who actually understand the business and can be relied on to treat PI's fairly.

[bcomms] 31/5/2018 09:18

Petropavlovsk has announced this morning the notice of the AGM. Within the notice are the following key issues for shareholders to consider in light of the requisition notice issued by CABS Platform and Slevin, two entities who own 9.2% of Petropavlovsk, but have refused to disclose the identity of the shareholder (or shareholders) behind these two vehicles.

On behalf of all shareholders of Petropavlovsk, the Board demands to know the identities of the real parties in interest involved in the requisition.

All shareholders have a right to know who is behind the attempt to oust the current Board and what the strategy is ahead of making a decision as important as bringing in further disruption to a business which has delivered considerable progress over the past 12 months.

It is simply not credible that two entities, organised in tax haven jurisdictions, and apparently not otherwise involved in any other business dealings and particularly not involved in the mining industry, have invested approximately £20 million “out of the blue” in a Russian gold mining company.

It is inappropriate and disingenuous for these shareholders to hide behind less than effective provisions of company law. It is time for them to show their faces and reveal their hands.

Key considerations for all shareholders include:

* Why are the shareholders in CABS Platform Limited and Slevin Ltd not revealing their identity?
* Having only been on the shareholder register for a matter of weeks why have they refused to engage with the Board to discuss their strategy for Petropavlovsk?
* What is the relationship between these shareholders and the Directors they have nominated to replace the current Board?
* What is the relationship between these shareholders and other shareholders and other third parties in the mining industry?

For more details please check the link to today's announcement by Petropavlovsk


For investors who would like to communicate with the Company please contact [e-mail]

[route1] 29/5/2018 15:42

I second that!!!!!

[galeforce1] 29/5/2018 15:17

This looks a bit desperate. The POG board is asking UK regulators to investigate the new activist shareholders CABs and Slevin (who between them hold over 9%) and are allied to Genges Rakishev

Doubtless the board are keen to show that the investors behind CABs and Slevin are Russian and are hoping that this will turn PI's against them.

Now remind me who appointed the current board? Wasn't it Viktor Vekselberg, a notoriously ruthless and unprincipled Russian oligarch?

The truth is that the current board knows they are very likely to lose the vote at the upcoming AGM and will do anything to keep the over-generous fees they currently enjoy.

Good riddance to all of them, particularly Bruce Buck, the Chelsea FC chairman. What on earth is that man doing on the board of a Russian gold-mining company?

We PI's will be much better off with Maslovsky, Jenkins and Lyne.

Rakishev has done great job for all shareholders at CAML. Hopefully he can do the same here at POG.

[losses] 29/5/2018 13:52

Petropavlovsk asks UK regulators to investigate activist shareholdershttps://uk.finance.yahoo.com/news/petropavlovsk-asks-uk-regulators-investigate-085639420.html

[bambo1] 29/5/2018 12:45

Looking like our gamble on it going up or down is going horribly wrong, fasten seat belts or jump out quick.