Petropavlovsk Share Discussion Threads

[jswjsw] 08/6/2018 11:59

Concert Party.
Someone in Russia wants it ... question is ... who?

j

[bambo1] 08/6/2018 11:46

The Company notes the letter it has received from CABS Platform Limited ("CABS"), a 4.55% shareholder in Petropavlovsk PLC, dated 6 June 2018 in response to the letter sent by the Company dated 21 May 2018 requesting the disclosure of information about interests in shares in Petropavlovsk.



The letter confirms that "as far as CABS is aware", Patia Trading Limited holds the shares in CABS for the ultimate unrelated trust beneficiaries, each of whom holds a 20% interest in the entity. The names of these individuals have been provided as follows:



1. Evgeny Khata

2. Viktoriya Grynova

3. Erika Gordisheva

4. Yulia Mangusheva

5. Mikhail Volkov



The letter also states that Mr Nikolai Lioustiger and Ms Viktoriya Grynova have been appointed by CABS under limited powers of attorney to represent it in negotiations and correspondence, but without the power to make decisions on its behalf without prior approval. The Board is unclear who would give 'approval' if these individuals are indeed, as claimed, the beneficiaries.



The Board does not believe these individuals are the ultimate owners behind CABS. Unfortunately, this disclosure seems to be yet another veil of secrecy, and we expect there are further layers to be peeled back before the true identity of the controlling person(s) is revealed. The Board continues to be mystified by the extraordinary lengths at which the requisitioners are going to conceal the true source of control behind these offshore shell vehicles that invested only three months ago. This secrecy should raise several concerns for shareholders ahead of the Annual General Meeting on 29 June 2018.



The Board is looking further into the identities of these individuals and their backgrounds, and we will update shareholders if we are able to achieve more clarity.

[undervaluedassets] 08/6/2018 11:41

The thing that is encouraging is that there is plenty of gold in the mines that POG owns.

from last the full year results announced march 2018 (which were great incidentally)

"c.6% Increase (before depletion) in the Group's Total Mineral Resources of 1.17Moz across the Group's assets, resulting in Total Group Mineral Resources of 20.86Moz (of which 8.15Moz are Ore Reserves)"

That is what has kept me here.

[book5] 08/6/2018 11:10

Wigwammer
Well done
But POG so far has not been good for shareholders
Hope this changes and reaches high 30s in 2 of years

[wigwammer] 08/6/2018 10:55

I have owned Highland Gold and Volga Gas off the lows in recent years and made very good profits in both. Both are almost pure Russian plays. Many of the largest commodity stocks on the planet profit and thrive from investments in Russia. In short - being a company with assets in Russia suggests little about the potential for capital gain.

[wallywoo] 08/6/2018 09:55

galeforce: This is not about nationality of shareholders, it is about control of POG. The Russians are masters at this game, they are chess players, whose ultimate strategy is to take control over how the assets are used and the direction the company goes in.

This may not be in the interest of all shareholders, and in deed is often a huge distraction to running the company properly. I expect this situation to drag on and for the POG share price gains from here to be muted.

[book5] 08/6/2018 09:36

Galeforce ,agree with you
POG: good volume, going up against the market, good.

[galeforce1] 08/6/2018 08:58

book5 - the way I see is that POG's operations are entirely in Russia. It may be listed on the LSE but is always going to have some Russian shareholders. I can't understand why the POG board feels they have the right to object to CABS and Slevin's combined shareholding of 9.5%-odd just because they think they may be Russian.

This time last year Viktor Vekselberg controlled about 40% of the company. He took over the board and installed the people we currently have. I didn't like that at the time and sold out. Because you have to able to believe 100% in the honesty of the board and their determination to treat small shareholders fairly.

Vekselberg is now out, which is good. We now have a good opportunity to re-install the old board. I hope that happens.

I see that the buying activity continues this morning.

[book5] 08/6/2018 08:31

Would it be that Sanctions are bringing Russian money to POG?

[galeforce1] 08/6/2018 08:13

Another desperate RNS from the POG board. Saying what exactly? That they think there might be some Russian shareholders on board. Well what a surprise that is!

[midasx] 08/6/2018 07:57

That should be Peter Charles Percival Hambro! apologies.

[midasx] 08/6/2018 07:54

Seems like the BOD do not mind spending company money releasing pointless RNS's to try and protect their positions.

You really could not make this up, a film should be made of the shenanigans over the last few years with Peter Hambro playing his suave self!

[galeforce1] 07/6/2018 19:22

Looks like a broker got a decent order to buy. Perhaps not surprising that there is some competition for shares. A potentially very close vote for control of the board is only weeks away.

Today’s volume at 11 million shares looks impressive but remember that that it is only about one third of 1% of the total issued shares.

[davidlloyd] 07/6/2018 18:27

Wonder what triggered the price action today? Any rumours out there? Should be interesting times ahead I think....
DL

[stoopid] 07/6/2018 16:44

Nice rise today for those holding. Congrats. Was gonna buy in at 6.5.and didn't, Ah well...

[book5] 07/6/2018 16:43

Decent volume today
No news yet

[book5] 07/6/2018 14:14

Next hurdle has to be resolved by the 20th of June,



good luck

[edjge2] 07/6/2018 09:24

No, 6p or even 5.5p may be bottom. With inevitable gold surge and dollar decline offers good value and debt will dissolve, a gamble IMO.
Iron ore prices on the up too and their Fe arm located near china too.
Hope management issues are sorted soon.

[edjge2] 06/6/2018 11:16

Gold price jump would especially help this co with its management flux. I suppose still cheap but not likely to last IMO. Could be 6.5p was their low for now. May be worth raising some cash for a POG.

[book5] 06/6/2018 10:25

We need managers than can provide technical leadership, experience, experience, experience, where are they? From the workers letter it is clear that the current ones are not good enough.
Failure forges character.

[galeforce1] 06/6/2018 09:41

Before the AGM we might see Fincraft (Rakishev's vehicle) turn some its 225m convertible bonds into ordinary shares.

There is a fixed conversion price. I have forgotten what it is, but I think it's around 8.2p. That's a decent premium to the current SP, so he will only do this if he feels he needs the votes from the ordinary shares. I don't think the bondholders can vote without converting.

If there is no converting, then it probably means that Rakishev+CABS+Slevin think they have enough votes already.

[galeforce1] 06/6/2018 08:58

It's good to see that the Petropavlovsk Operations team out in Russia have publicly come out to support the re-instatement of Maslovsky and the previous board.

They claim that POG currently has no 'strategic leadership', which comes as no surprise at all.

Then today I see that the POG board has issued another desperate RNS trying to take the moral high ground, which is ridiculous. Bruce Buck trying to take the moral high ground is like Mick Jagger trying to be the Archbishop of Canterbury.

[wigwammer] 06/6/2018 07:08

It seems the dimwit is still here. Owning shares he only thinks will go down :)

[bambo1] 06/6/2018 02:28

Where are the two Rampers today?