Petropavlovsk Share Discussion Threads

[robertstronghand] 22/10/2020 13:11

Wow Steve why so much hatred for Strukov? Personally I have no particular concern for him, anymore than I do any other shareholder. As long as the company is able to continue functioning smoothly, in the interests of all shareholders. Looking for a close above 1930 on Friday for gold'd next leg up.

[troy] 22/10/2020 12:45

The companies RNS this morning just states article 330 and a charge of 'Arbitrariness'

Seems to gloss over the fact that the real charge was initiated under part 2 of Article 330 (arbitrariness with the use or threat of violence), as well as against unidentified persons - under paragraphs "a" and "c" of Article 158 and part 2 of Article 330 of the Criminal Code (theft and arbitrariness).

Talk about being economical with the truth ! Midas, Can you also ask your mate Patrick why, "with the use or threat of violence" was left out of the RNS ?

[troy] 22/10/2020 12:30

While your at it Midas. Ask your mate Patrick WTF is going on with Pokrovski Rudnik who have been in court today.(2nd link) When does he intend to RNS that ? November ? The Russian press are going mad today so I've just posted some of the more interesting links that you'll have to translate ....

[stevea171] 22/10/2020 10:58

Another good spot Troy.

The Russian authorities are just beginning to go after Strukov for a whole catalogue of offences likely going back many years. The accounting for him is now commencing. All his ill gotten billions may not keep him from more of his assets being confiscated by the State, in addition to swinging fines and eventual imprisonment.

ONE OF THE MINES OF THE SGK POISONED THE RIVER IN KRASNOYARSK REGION (VIDEO)

The mine of Konstantin Strukov's company, which became a co-owner of the Amur Petropavlovsk and was involved in the raiding of the Pokrovsk mine office, poisoned the Koloma River in krasnoyarsk region. For two years there were mined gold in violation of environmental requirements.

The name of Chelyabinsk oligarch Konstantin Strukov is mentioned for the third time in recent weeks in connection with high-profile scandals. Recall that in Kuzbass is a bankruptcy case owned by Strukov "Dzerzhinsky Mines," in connection with which the property of the owner of the SGK was arrested for more than one and a half billion rubles. At the same time, the main investigative department of the Russian Investigative Committee has opened a criminal case on the fact of the forceful seizure by the new executive director of Petropavlovsk Maxim Meshcheryakov of the Pokrovsky mine office in Moscow, where Strukov's relative Ivan was spotted.

And here is another criminal case, this time related to illegal gold mining and serious environmental violations in the Krasnoyarsk region. The managing director of Artel Diggers " Priisk Drazny" LLC, which is part of Strukov's business empire, has been prosecuted under three articles of the Criminal Code of the Russian Federation: 246 "Violation of environmental rules in the production of works," 255 "Violation of the rules of protection and use of the bowels" and 191 "Illegal trafficking of precious metals."

During the inspection, investigators found the fact of illegal storage and sale of precious metal worth more than 340 million rubles. Documents are being dug up, management and employees are being interrogated, property and equipment worth 400 million rubles have been seized.

However, in light of Strukov's continued attempts to seize control of the Amur Petropavlovsk, the accusations of gross violation of environmental legislation are even more alarming. According to the investigation, in 2018-2019, Priisk Draznyy carried out gold mining operations in the North Yenisei region, during which environmental regulations were violated. As a result, the forage base and places for spawning valuable fish species on the Koloma River were affected. The damage to nature is estimated at 70 million rubles.

It is noteworthy that the managing director has already opened a criminal case in the same Krasnoyarsk region for illegal gold mining on the Stream Dydan and serious damage to the environment. But, in the best traditions of the SGK, the guilty manager was not only not punished, but also transferred by the chief to the next mine.

Konstantin Strukov's attitude to compliance with environmental legislation is in sharp contradiction with the position of the governor of the Amur region. Most recently, Vasily Orlov announced the importance of combating negligent gold miners, emphasizing the preservation of the unique nature of the region. The authorities of the region prepared a proposal to the Russian Ministry of Natural Resources - to tighten federal laws against unscrupulous subsoil users, reduce the issuance of licenses for exploration and extraction of bulk gold on sites that are adjacent to reserves, as well as on areas of rivers that flow through specially protected areas and located upstream.

[apple53] 22/10/2020 10:25

Troy

Thank you for confirming the time line.

I fear Patrick may be inundated this morning. Your language this morning may have been excessive, but I guess, thanks to MidasX (assuming Patrick does not check this bulletin board), Patrick can inform the board the way some well-informed and long standing interested parties are seeing this situation, and that an RNS like this has the opposite effect to that desired.

The share price response this morning, on top of recent falls, I had partly put down to falling markets, but I increasingly think it is a mixture of marketmakers marking down the price on the open (due to the old but negative news in the RNS), exacerbated by disappointment from those of us who hoped to see a better board response. I didn't sell this morning but someone who had hoped that the next RNS would report Meshcheryakov being replaced may have finally given up.

I wish I had more time (and more Russian language), as there is some work to do on this: we need to catalogue all the investigations of Meshcheryakov and Strukov (and linked entities), look at the timelines of verdicts/results, help Patrick by pushing for better communication, and consider the implications of verdicts. I think M will be replaced - he was only meant to be temporary - and that a new appointment could see a decent share price jump. Before this, however, I am not completely confident the results will be stellar, as the new auditors will definitely want to err on the side of caution and, as discussed above, new management will want to kitchen sink as much as possible.

I get the sinking feeling that I should be selling, with a reasonable probability of buying back 10-20% lower. I did sell some at 38 ish but stupidly have bought it all back in the low 30s. There is also the opportunity cost as there is a lot of cheap stuff around right now (most bank stocks for starters) that will probably go up when the mRNA vaccines get emergency use licences.

The other piece of work is to check on board members' shareholdings, and to see if any of them are well-placed to find a buyer who would carry employees.

[undervaluedassets] 22/10/2020 09:57

Well next support would seem to be the 200-day moving average. Not visited for ages. early 2019 in fact.

[edjge2] 22/10/2020 09:52

I might be mad but these below 30p looks a giveaway despite all the shenanigans.

[undervaluedassets] 22/10/2020 09:36

Trumpean manipulation of facts in my view.

Today's RNS should have really come out weeks ago.

Those that are still left of the old guard clinging on to their desks.

As I said hellish position for Investor Relations

[troy] 22/10/2020 09:30

apple53

Yes, you are correct. I've gone back to check.

Amur.info first reported a criminal case being instigated on the 6th October although this article came with many caveats. It then confirmed the investigation on the 9th October also confirming that the investigation was initiated on the 25th September.

Clearly, there is indeed nearly a month between the market being informed by RNS this morning and the news being reported by Russian press outlets.

Edited to add. Undervalued.... Strukov might not even have 40p after the tax authorities have finished with him !!!


Also... more Strukov woes.... Amur.info today reported on river poisoning and report on the "illegal" mining of UGK

[undervaluedassets] 22/10/2020 09:25

I feel very sorry for Investor relations - they are in an invidious position.

I am sure that they are having to do some extremely unpalatable things at the moment.

[undervaluedassets] 22/10/2020 09:23

Strukov needs the share price down to pick up the whole at a much cheaper price. He can't afford 40p

[stevea171] 22/10/2020 09:23

Patrick if he has any decency would be well advised to follow Alya out the door.

[stevea171] 22/10/2020 09:21

MidasX. Beyond pathetic.

[stevea171] 22/10/2020 09:19

RSH. Birds of a feather. A complete liar in support of this lying company.

>>>> "Again with the hysterical posts on here, very strange."

Where are these 'hysterical posts'?

The only emotional language is what he is using to run down the posters here who take exception to current governance of this company.

[officehead] 22/10/2020 09:18

UVA - Agree Strukov wouldn't bid, I think he is under too much scrutiny at home.

[midasx] 22/10/2020 09:18

I have already forwarded Troy's post from this morning to Patrick.

He will be aware that Troy suggested the RNS this morning is lies and that the Board of Directors and Auditors have no idea how the company are performing and will be unable to provide Interim Accounts.

[robertstronghand] 22/10/2020 09:16

Odd I thought it was the old management attempting to foment chaos.

[apple53] 22/10/2020 09:12

Troy

Thank you so much for posting so much useful information.
In your note on 9th October, you quote an article which states that the City of Moscow investigation was initiated on September 25th. Have I understood this correctly? This sounds like the same investigation referred to in today's RNS. Would you agree?
If you can confirm this I will happily write to Patrick to check on this and query the delay in passing this information to shareholders.
Btw, I note that there was already quite a gap between Sep 25 and your Oct 9 note , so it may be that the investigation was not immediately public knowledge, though one would imagine that Mr Meshcheryakov would have been informed of such an investigation almost immediately.

Meanwhile, I implore all posters to avoid personal attacks. Please.

[undervaluedassets] 22/10/2020 09:10

That is why he is fomenting chaos via the board via their dubious management choices.

To kick the share-price. He is keying his own car!

And it's working!

[robertstronghand] 22/10/2020 09:08

The whole debacle will end with Pavel and pals forced to beat a retreat, even they will eventually realise it is over, the smartest ones have already. Again with the hysterical posts on here, very strange.

Actually Citi is very prominent in Russia, even more so than Raiffassen, why would you think they are going anywhere?

[undervaluedassets] 22/10/2020 09:05

strukov won't pay 40p

[j777j] 22/10/2020 09:03

Support levels clearly breached I see a retrace to 20p as a start

[officehead] 22/10/2020 09:00

This whole debacle will lead to the most likely outcome - the company will be taken over, removing the continuation this increasingly embarrassing situation for London and Moscow institutions.
The question for shareholders is when, and for how much? - my guess around 40p per share.
No facts - just the extrapolation of lies and corruption.

[robertstronghand] 22/10/2020 08:56

On what basis are you claiming that the current management are not looking after shareholders, we have numerous examples of the previous management failing to.

No different to Vanstar Mining, previous management were just interested in promoting themselves so shareholders united and threw out the old management. This being Russia we get more excitement but as with Vanstar it takes a little time to clean things up, but investors must look to the long term. I would certainly say in the case of POG the old management are a lot more aggressive in looking after their own interests, Vanstar was more vanity and incompetence.