Petropavlovsk Share Discussion Threads

[troy] 23/10/2020 12:18

bobloo. Prosperity aren't selling. Their lower percentage share holding is just due to the recent bond conversions and subsequent issue of more shares.

[stevea171] 23/10/2020 10:25

There is no V (or W) shaped recovery.
Most IRC sales go to China which is stockpiling and still building infrastructure. Copper prices are elevated along with Fe, Au, Ag etc.

[bubloo] 23/10/2020 10:17

prosperity selling and cutting stake. I suspect hambro and pavel will be selling or have already sold. I am surprised marginal rise in price today

[robertstronghand] 23/10/2020 09:51

Iron ore prices should remain elevated with the V shaped recovery and contined money printing. I don't really know much about IRC, and I am not sure this is the place to ask for more information, but in theory this could become quite a valuable holding, certainly more than the $10m it was going to be sold for. Although at this rate that debt will take seven or so years to pay off.

[stevea171] 22/10/2020 18:47

Petropavlovsk chief executive faces Russian criminal probe.

Investigation follows Maksim Meshcheryakov’s forced entry of FTSE 250 gold miner’s Moscow office.

The Investigative Committee of Russia told the Financial Times it was “investigating a criminal case” against Maksim Meshcheryakov, who was appointed two months ago. It added that “a notification of the initiation of a criminal case was sent to citizen Meshcheryakov”.

The probe by Russia’s top investigative body will add to concerns about the ability of Mr Meshcheryakov to run one of the largest gold producers listed in London.

[weemonkey] 22/10/2020 16:26

Down more today on Russian index than it is here..

Even patriotism - ( which had been so helpful up to now) - is evaporating when it comes to this stock

[stevea171] 22/10/2020 16:06

Celeritas. Yes. It was my largest holding as I had confidence in the company and its program of POX expansion and company development. But no longer.

[undervaluedassets] 22/10/2020 16:05

Centamin aside worst performing UK listed gold miner of the last 3 weeks.

If the vote had been won we would have been trading between 50p and £1.

[undervaluedassets] 22/10/2020 16:03

yes the new management since the coup have really helped sentiment and the shareprice..

[celeritas] 22/10/2020 15:16

Same here stevea, was one of my largest holdings.

[midasx] 22/10/2020 15:11

The men in tracksuits are going to find you out Troy!

[midasx] 22/10/2020 15:07

Troy,

Have you led a sheltered life?

"Threat and violence" Oh I could squash a grape!

[stevea171] 22/10/2020 14:56

RSH. I have plenty of investments, thank you.

I had a large investment in POG until Strukov engineered a coup against the BoD's. Not for the reasons he stated but for his own self gratification and financial gain. I was very happy with my investment here until he upended the governance of the company. I sold and will not return until he and his henchmen incl Meshcheryakov are gone.

[troy] 22/10/2020 14:41

I think roberts right on this steve. The board (whether you like them or not) are responsible to the shareholders who are the ultimate owners of the company. Pokrovski Rudnik has gone rogue and seems to think it can run itself how it likes. Whichever side you are on, that can't be right.

I also share roberts view of Amur justice. Surely Mechcheryakov DOES have the right to enter the office. OK, he went about it in completely the wrong way but that's not the point. Amur Courts (at the moment) seem to be finding in Pokrovski's favour which just seems to be a stick to beat Strukov with.

[robertstronghand] 22/10/2020 14:31

Steve get a grip man. Eldorado Gold looks good, pick some up and cheer yourself up.

[robertstronghand] 22/10/2020 14:30

There does seem to be a general malaise across the London listed PM space at the moment, some for good reason and some for none. Centamin, Solgold, Anglo Asian, not replicated in the North American miners though, a gold breakout should perk things up, but I have a history of being too optimistic on my timing.

[stevea171] 22/10/2020 14:26

RSH. Ever heard of Justice?

Justice on behalf of all those workers and citizens who have had the misfortune of being screwed by Strukov - health wise, environmentally or financially.

[robertstronghand] 22/10/2020 14:08

Yes, we are well aware an element of the company think they can just run things as they see fit, an interesting idea. Perhaps a bit of legal sophistry can delay the inevitable for a bit, but I doubt for long. I am not entirely confident in the legal system in the Amur Region, otherwise I would say an open and shut case as it was when that was tried with the BoD here.

[celeritas] 22/10/2020 14:06

This has been a total fxxx up since the coup, if anything it's getting worse. It's so convoluted now to the point of why even bother looking at it when not many if any have such issues going on.

[troy] 22/10/2020 13:51

This one had me most confused. Any thought robert ?

Unfortunately I think a lot has been lost in the translation.........


"Pokrovsky Rudnik" questioned the new management's compliance with the charter of Petropavlovsk

Moscow. 22 of October. INTERFAX.RU - Representatives of Pokrovsky Rudnik want to get an opinion on compliance with the requirements of the Petropavlovsk charter of the minutes of the August meeting of the company's board of directors. This was announced in the Arbitration Court of the Amur Region, the Interfax correspondent reported.

Petropavlovsk is seeking through the courts to hold an extraordinary meeting of shareholders of Pokrovsky Rudnik. During the preliminary hearing on Thursday, the defendants asked the court to leave the claim without consideration, since, in their opinion, it was filed by an unauthorized person.

Petropavlovsk spokesman Artem Kara explained to the court that at the beginning and at the end of September demands were made to hold an extraordinary meeting of the mine's shareholders. Opponents expressed doubts that one of the directors of Petropavlovsk, Maksim Kharin, is authorized to sign instructions on convening such a meeting.

Yulia Kirpikova, a spokeswoman for Pokrovsky Rudnik, noted that the extract from the register of the Petropavlovsk registrar that Kharin is one of the directors presented to the court does not confirm his right to act alone on behalf of the company.

"The protocol ( of the Petropavlovsk board of directors. - IF. ) Does not confirm the authority of Mr. Kharin and is invalid. When we open the minutes of August 17, we see that the chairman of the general meeting was Mr. James Cameron, and the minutes were signed by director Ekaterina Ray", - Kirpikova stressed.

She further noted that clause 3 of article 117 of the Petropavlovsk charter provides that the documents of the meeting of the board of directors, which is held by telephone, as it was on August 17, must be signed by the presiding officer.

"The protocol itself states that members of the board of directors authorized Ekaterina Rae to sign this protocol on behalf of the board of directors. There are no strict rules about what the chairman is obliged to sign and that the chairman is fixed," - said in response a representative of Petropavlovsk Anna Fufurina, who took part in court online.

However, according to the respondents, this decision cannot contradict the provisions of the charter. "We will order the opinion of specialists who will or will not confirm that the protocols presented by the plaintiff's representatives comply with the norms of English law and the statute of Petropavlovsk itself," Kirpikova said.

Petropavlovsk spokesman Artem Kara noted the inconsistency of the defendant's position, since in an earlier court dispute the protocol of August 17 was not declared invalid. "This protocol is notarized," added Kara.

The mine representatives petitioned for the suspension of the proceedings. This issue, as noted by the judge Natalya Zanoza, will be considered in the main court session, which is scheduled for October 29.

Petropavlovsk has been in a state of corporate conflict since the end of June, when, following the results of the annual meeting, the founder of the company, Pavel Maslovsky, and several other directors did not enter the board of directors of the parent company. Meshcheryakov was appointed interim CEO of Petropavlovsk in mid-August.

Ekaterina Rae, who was mentioned in court, left the board of directors of Petropavlovsk at the end of August.

[j777j] 22/10/2020 13:45

Just going from bad to worse.10p could be revisited

[robertstronghand] 22/10/2020 13:23

Those links don't tell us anymore than we already know, but thanks anyway. As I read it they say article 330 is what relates to the interim CEO. I am happy to give the benefit of the doubt to the new board and management, they have been put in a tough position.