Petropavlovsk Share Discussion Threads

[bambo1] 27/11/2018 08:54

Still sitting like a lame duck.

[bambo1] 27/11/2018 07:45

Successful Commissioning of the Pressure Oxidation Hub at Pokrovskiy and IRC Project Facility Refinancing Update

Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") today announces the successful progress in the commissioning of the Company's Pressure Oxidation (POX) Hub, located at the site of the Pokrovskiy mine, as well as an update on the refinancing of the IRC project finance facility.

Key Highlights

Pressure Oxidation Commissioning

■ Autoclave 1, alongside its supporting infrastructure and equipment, has successfully been put through hot commissioning

■ First refractory ore concentrate processing scheduled for 28 November

■ Initial success suggests the Company is on track for gold production from the POX plant in Q1 2019, with production ramping up throughout 2019



Refinancing of the IRC Project Finance Facility

■ The Group is in the final stages of concluding the refinancing agreement and subsequent staged guarantee reduction of a new US$240 million facility with a leading Russian Bank ("Bank")

■ The transaction is subject to approval by shareholders at a General Meeting expected to be held in January 2019 with funds available for draw down later that month

■ Discussions with ICBC are at an advanced stage with a view to IRC obtaining a waiver for the upcoming 20 December 2018 payment until the refinancing is finalised

[olimttsfi] 21/11/2018 21:22

Hi guys , is it any estimate AISC For POX produced gold per once( Refactory). Thx

[book5] 19/11/2018 19:53

Brian
Thanks

[brian1944] 18/11/2018 15:34

hi all sunday telegraph interview with pavel maslovskiy will soon have its POX plant up and running he says it will become a stable cash cow enabling it to start dividends

[book5] 12/11/2018 17:00

Breaking up
The gold must be coming from the HOX?

[olimttsfi] 07/11/2018 21:59

DL what do you think about MUX? Thx

[davidlloyd] 07/11/2018 16:01

Was referring to the RNS - another good and experienced NED.

DL

[olimttsfi] 07/11/2018 13:31

What you mean? David L. Thx

[davidlloyd] 07/11/2018 12:59

All coming together nicely. Now just for the share price to join the club.....

DL

[book5] 30/10/2018 09:31

Looking better now

[midasx] 29/10/2018 05:35

Why Central Bank Buying Has the Gold Market Guessing

[midasx] 26/10/2018 09:07

Everything looks very positive except the SP!

Having lived through the POX debacle and paid the price for it, I am looking forward to full ramp up in production next year! The Gold price should be underpinned by other market volatility so hopefully we can see a positive share price re-rating next year!

[bambo1] 26/10/2018 09:00

Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") today issues its production results for the period from 1 July 2018 to 30 September 2018 (the "Period").

[officehead] 20/10/2018 07:23

Not sure but it would seem that this confirms that the Russian Bank refinancing deal is going to be most likely outcome. If I recall, this involved a delay in the return of the bridging loan to December 2018.

[bambo1] 19/10/2018 21:06

Petropavlovsk PLC

IRC Announces Update On Temporary Bridge Loan

The Board of Petropavlovsk PLC ("Petropavlovsk" or the "Company") notes the announcement made today by IRC Limited ("IRC"), regarding a delay of approximately two months in repayment of the temporary bridge loan advanced by the Company to IRC in June 2018.

As set out in IRC's announcement on 13 June 2018, and its circular to shareholders dated 23 July 2018, JSC Pokrovskiy Rudnik (the "Lender") entered into a temporary bridge loan with IRC on 13 June 2018 for the purposes of facilitating the repayment obligations of Kimkano-Sutarsky Mining and Beneficiation Plant LLC ("K&S") under the ICBC Facility (the "Bridge Loan").

Further to IRC's announcement dated 24 September 2018, providing an update on the K&S refinancing arrangements, negotiation of the finance documentation for the purposes of completing the refinancing is ongoing and until the process is finalised, IRC will not be in a position to repay the Bridge Loan on its due date of 20 October 2018.

Accordingly, Petropavlovsk has confirmed that it will not take any action or exercise its right to demand repayment of the Bridge Loan on 20 October 2018 provided that;

(i) All amounts owing under the Bridge Loan are repaid in full by 20 December 2018

(ii) Any interest under the Bridge Loan which has accrued on or prior to 20 October 2018 is paid in full by 20 October 2018 and any interest accruing after 20 October 2018 is paid on the last day of each month prior to 20 December 2018, and on 20 December 2018

(iii) IRC is to pay a fee equivalent to US$200,000 to Petropavlovsk in consideration for the waiver of the Lender's rights as set out above

[bambo1] 15/10/2018 09:39

The Board of Petropavlovsk PLC ("Petropavlovsk" or the "Company") is pleased to announce the appointment of Messrs James W. Cameron Jr and Damien Hackett as Independent Non-Executive Directors of the Company with immediate effect.

Mr Cameron, a US qualified lawyer, has extensive international experience, providing expertise and consulting services for companies particularly in the natural resources sector within Russia and the former Soviet Union, since 1988. He was formerly Founder, CEO and Chairman of Occupational Urgent Care Systems Inc., a company traded on the NASDAQ National Market System until it was sold in 1992.

Mr Hackett is Chairman of UrAmerica Ltd, a private uranium exploration company in Argentina. Mr Hackett has 26 years' critical research experience covering globally diverse mining companies, initially as Global Head of Mining Research with Credit Suisse First Boston in Australia, following which he held similar roles with Credit Suisse and Canaccord Genuity in London. Latterly he was Vice Chairman Mining Advisory at Canaccord Genuity responsible for developing investment themes in metals and mining across North America, Europe, Russia and Australia.

Mr Hackett's early career in resources was grounded in 4 years of exploration, resource development and mining in Western Australia followed by 7 years in mineral exploration and economic assessment in Saudi Arabia. Mr Hackett holds a Bachelor of Science from the Australian National University in Canberra.

[midasx] 15/10/2018 08:40

Gold and the POG share price will be winners with the ongoing market volatility which will now be we us for years to come.

The false market in bonds and equities produced by billions in quantitative easing is about to be found out!

[edjge2] 12/10/2018 18:56

Gold removing debt here, nice to see

[bambo1] 12/10/2018 15:59

Amen to that.

[davidlloyd] 12/10/2018 14:27

And ever shall be.

DL

[bambo1] 11/10/2018 15:49

Is this the beginning or the end.

[davidlloyd] 11/10/2018 11:08

Every cloud and all that. Maybe just what this wayward gold miner needed to get back on track(ish)?

DL