Petropavlovsk Share Discussion Threads

[undervaluedassets] 09/10/2020 12:23

I think this bulletin board has become a haven for myopia and wishful thinking.

[popeye888] 09/10/2020 10:02

I think the RNS displays and confirms the new BOD promise to implement a robust and transparent control framework for the Group. The old BOD had a long reputation in the city for making optimistic and unachievable predictions. Give me transparency and truth every time.

[robertstronghand] 09/10/2020 10:00

Actually it is very common for new management to air the old management's dirty laundry, I am very surprised you are not familiar with this tactic, somewhat undermines your credibility to suggest otherwise.

[doc_oj] 09/10/2020 09:56

if they are expecting the production to be materially lower with costs being higher, they surely cant turn that into good news?

[undervaluedassets] 09/10/2020 09:49

No company, and I mean NO company. leads with bad news...

[popeye888] 09/10/2020 09:27

I suspect this could be the last chance to buy these shares cheap.

[celeritas] 09/10/2020 09:23

This looks like it's being run down. I have no doubt today's rns would have been very different had the previous bod been in place. As for third party ore, I wonder where we are going to get some of that from in future. Anyone know someone with refractory ore to process.

[doc_oj] 09/10/2020 09:11

the positives in the RNS, or as I see it,

- Petropavlovsk confirms that it intends to publish its interim accounts for the period ending 30 June 2020 in the second half of October 2020.

- The Group's mines continue to operate as normal and the Group continues to progress the implementation of a robust and transparent control framework for the Group.

- The impact on profitability will be less significant given the lower margins on third-party production processing.

- Management has also decided to delay full commissioning of the Pioneer flotation plant from Q4 2020 until Q2 2021. This reflects delays to the commissioning of some equipment items and a desire to avoid full commissioning during the winter months. 'During this period we will continue to process stockpiles of lower grade non-refractory ore at the Pioneer RIP plant.'

[robertstronghand] 09/10/2020 09:01

Normal for new management to throw out negatives at the start, allowing them to outperform, not sure why the conspiratol accusations. Nothing that impacts the long term in there.

Of course a dividend will come, the large number of converts realised make that possible.

[doc_oj] 09/10/2020 09:00

why do I feel that this RNS will do the share price good in time to come, sets up expectations low but realistic if the numbers are not as good.

[undervaluedassets] 09/10/2020 08:53

yes and will those results be manipulated to shareholder detriment?

They are not playing cricket this lot.

I will tell you one thing for free. forget the dividend. All mention of that will quietly (or maybe not so quietly) be dropped.

[midasx] 09/10/2020 08:47

A very negative and probably deliberate RNS to smash and grab some shares.

They fail to mention the huge increase in Gold price which will counteract the long list of negatives they have highlighted!

One positive is the interim results in a few weeks.

[bocase] 09/10/2020 08:43

Undervaluedassets.

I think you are spot on. I could not quite put my finger on what was wrong with the RNS but yes a deliberate attempt to lower the share price. Totally agree.

[stevea171] 09/10/2020 08:38

MidasX usually has plenty to say.
How is his latest trade doing? Every one has been a winner so far ....

Did he sleep in this morning, I wonder?

[doc_oj] 09/10/2020 08:37

seems my top up was poorly timed lol

but even if you work on these updated poor numbers you get some amazing profits!?

[undervaluedassets] 09/10/2020 08:37

Why highlight the negative in a trading update? It is strategic.

The share price crashing down through the 100day moving average on a very poor (deliberately poor?)update will not help sentiment either.

the 100 day moving average has been very strong support here.

[kendonagasaki] 09/10/2020 08:34

Crafty Ruskies.Smart move to get this back to 25p and offer 40p.

[officehead] 09/10/2020 08:31

Agree UVA this has the hallmarks of internal conflict, though to be fair to the new board. The old board had mentioned difficulties in procuring 3rd party ore.
I am sure the new board have done absolutely nothing to mitigate this in the meantime.

[undervaluedassets] 09/10/2020 08:26

This company was mugged and kidnapped under the cover of COVID-19. That is what has happened here.

[stevea171] 09/10/2020 08:23

POG's institutions are wholly responsible for this debacle!

Pavel will be back again in due course but only after the company has been carpet bombed as today's RNS details, there is another EGM and the institutions that supported Strukov do a 180 degree turn around ....

[undervaluedassets] 09/10/2020 08:21

Such a strange update...highlighting the negatives.

"lower than expected grades, primarily from third-party material; and
- logistical issues associated with COVID-19 impacting deliveries of third-party concentrates "

They lead with bad news FFS! What company highlights the negative in it's statements? No company does that!

It is a very suspicious thing to do.

Midas just for one moment put your brain in gear... Why would they do that?? Hmmm?

[undervaluedassets] 09/10/2020 08:17

It is as if this is a totally different company since the coup and the change of management ...

[undervaluedassets] 09/10/2020 08:15

They are 'keying their own car'

Everything slightly worse than expected.. and worse than we were led to believe from the production update in August

Do you know I do not even know it that is true. I would not be surprised if they were creating bad numbers ... Why? because it will depress the share price.

Why would that be strategy.. because Strukov and chums want to buy the whole thing on the cheap.

[troy] 09/10/2020 08:09

I wouldn't even want to speculate who's making RNS announcements ! Are these figures being run through the new board or coming from Ermelenko and the "old guard" ?

What I really don't understand is this. There was a shareholder vote which gave a majority to the Strukov faction whether anybody likes it or not. Mechcheryakov was appointed as CEO but seems completely powerless in his ability to act as such by certain employees, unions etc just because they didn't like the vote outcome. Now, I obviously don't agree with the methods used so far of intimidation and threats, but I do have some sympathy for the guy. You can't just turn around and ignore a legitimate shareholder vote just because you don't like it.

But apparently you can. Ermelenko won in court. Which leaves an ineffectual board, totally detached, with Ermelenko running his own personal fiefdom.