Petropavlovsk Share Discussion Threads

[malcontent] 08/1/2021 15:39

in the past, gold lead the charge
now it appears that crypto has taken that position
once the burn hits the bitcoin price, then we should see gold take the baton
then silver


I'm too old for a virtual wallet to store my bitcoin in, so I've been accumulating gold and silver bullion, and some mining stocks, and waiting my turn.

I have a fair few POG, all safely tucked away in ISA and SIPP, and patience pays...

[robertstronghand] 08/1/2021 14:45

Hit 1870ish and gold should be back off to the race's.

[three_fitty] 08/1/2021 11:17

Looks like this want to make a visit to the support line at 31.3p. A pull back at the current range will be a strong back test of the neckline. Decision time POG. Gold is also backtesting it's S/R line at the moment. I suspect if/when Bitcoin see's a pullback we will see money return from Crypto's into gold again.

[rochdae] 07/1/2021 15:19

Continued grind higher here. Finally back in profit. Looking to attack the old high soon enough.

[shaf200] 07/1/2021 12:10

33.85 right now

[midasx] 05/1/2021 22:19

Nice 3,158,947 UT again at the high of the day 33.5 !

Looking very promising.

[srpactive] 05/1/2021 11:14

If we can close above 33.85p we should zip nicely higher.

dyor

[three_fitty] 05/1/2021 10:55

I've been back in this since it broke out of it's falling wedge at 28p. I don't know about the fundamentals, they're difficult to get transparency on. However, from a technical perspective, this has just bounced off its 4th reversal point of a bullish rising expanding triangle. There's a Head & Shoulders bottom and the price action has just broken the neckline, which is very positive. I would expect some backtesting here around the 33p mark before a further move up. However, there is no rule that the backtesting has to happen. The price objective for the H&S bottom is 41.5p. Let's see. Whether it's a risky play or not, the charts are showing the market's view and it's bullish.

[midasx] 05/1/2021 09:52

Update on the 23rd last year, so hopefully not too long to wait.

Average realised price $1,346 last year, it should be a bit better this year.

Progress report on the new flotation plant due for commissioning in the second quarter, and Gold heading back to $2000.

Things starting to look a bit more positive.




23/01/2020 7:00am
UK Regulatory (RNS & others)

Petropavlovsk (LSE:POG)


RNS Number : 6556A

Petropavlovsk PLC

23 January 2020

23 January 2020

Petropavlovsk PLC

Q4 and FY 2019 Sales & Production Report

Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") today issues its sales and production results and corporate update for the period from 1 October 2019 to 31 December 2019 (the "Period" or "Q4") as well as its full year sales and production results ("FY 2019").

Operational Highlights

Gold sales

-- 39% increase in total FY 2019 gold sales to 514.0koz (FY 2018: 369.6koz(1) ) due to the processing of refractory concentrates in the first year of operations at the POX Hub

-- 471.6koz of the total FY 2019 sales amount represents gold sold from the Company's own mined production, an increase of 28% on FY 2018(1) and in line with the Company's guidance of 450 - 500koz

-- Gold sales from third-party concentrates totalled 42.4koz for FY 2019

-- Average realised gold price of US$1,395/oz (Q4 2018: US$1,244/oz) in Q4 including a US$88/oz loss from hedging, and US$1,346/oz (2018: US$1,263/oz) for the year including a US$61/oz loss from hedging

[shaf200] 05/1/2021 08:33

One last push!!

[midasx] 05/1/2021 03:54

"Chart Of The Day: Gold Breaks Its Bearish Selling Line; Trend Now Brighter"

[fellranger] 31/12/2020 12:59

Well at least a stronger finish to the year .... and almost trebling to the share price this year?Let's look forward to it doing the same next year ... best 2021 wishes to all!

[midasx] 31/12/2020 12:57

Nice UT 4,385,697 @ 32.5 the high of the day.

Lovely last trade of the year !

[kendonagasaki] 31/12/2020 12:48

Nice to see the Worlds biggest hedge fund Norge Bank up ones stake here to just over 3 percent.Bodes well.

[midasx] 30/12/2020 07:08

Ah there you are UVA!

[robert handofstrukov] 30/12/2020 06:09

Ironic that chairman James Cameron was on the audit committee that reviewed many of the the so-called dodgy deals but remained silent.KPMG would not go near POG for an audit, but are happy to receive huge fees for a bogus enquiry. POG could not get a big four auditor because of dubious corporate governance and the lack of independent directors. Cameron was always Lustiger’s boy. KPMG review of deals is a masterstoke, because the name lends respectability when POG reputation for governance is dire, and it also deflects attention from behaviour of concert party and their puppet board regarding rigging the conversion of bonds. Nobody ever said Strukov and Lustiger were not smart guys.

[troy] 29/12/2020 09:40

Robert. When copying and pasting a link just replace the small "tt" in the "http" part of the link with capital T's ie: "hTTp" . This makes the link clickable. No idea why, it must be an ADVFN thing. Anyway..........


An interesting angle from the (so far !) pro Mavlovski Amur Info news site.



They seem to think Maslovski's "arrest" is all a bit of a stitch up. Perhaps it's disbelief that one of their own is as bent as the rest ? Perhaps they're right ? Who knows.............


Case "to order"? The sudden and strange arrest of Pavel Maslovsky may be related to the conflict over "Petropavlovsk"


In the midst of a corporate conflict between the old team of the Amurskaya Petropavlovsk and supporters of the Chelyabinsk YuGK, the founder of the company, Pavel Maslovsky, was unexpectedly accused of embezzlement and imprisoned for two months. However, the very nature of the accusations, as well as the hasty and excessively harsh actions of law enforcement officers, raise many questions from both the company's employees and outside observers. We tried to understand the background of the incident and understand who might be interested in the arrest.

Searches in Pokrovsky Rudnik: there are more questions than answers

On December 24, searches and seizure of documents took place in the Moscow and Annunciation offices of Pokrovsky Rudnik, a subsidiary of Petropavlovsk. According to media reports, the reason for the invasion of the security forces was accusations of allegedly large embezzlements committed by the former head of the company Pavel Maslovsky.

Denis Aleksandrov, the current CEO of Petropavlovsk PLC, entered the Moscow office of the company together with law enforcement officers . We will remind that he was recently appointed to his position due to the fact that a criminal case was opened against the previous general director Maxim Meshcheryakov, a protege of the Chelyabinsk YuGK, for an attempted bandit seizure of the same Moscow office.

In the evening of the next day, there were reports that Maslovsky had been imprisoned for two months.

The incident came as a shock to the company's employees, everyone who followed its activities, and especially those who personally know its founder. Pavel Maslovsky is the man who actually created Petropavlovsk from scratch, turning it into the third largest gold mining company in Russia in a quarter of a century. His last large-scale project is the construction of an autoclave complex at Pokrovka for the processing of refractory ores - a unique high-tech enterprise, which are few in the world.

In addition, Maslovsky was a deputy of the regional council, a senator from the Amur region. Pokrovsky Rudnik has always sponsored numerous social and cultural projects in the region. It is extremely difficult to believe that a successful large businessman, who has invested 25 years of his life in the company, for some reason needed to harm his brainchild. However, the investigation insists on its own.

Accusations from scratch?

What is Maslovsky accused of? The official representative of the Ministry of Internal Affairs, Irina Volk, was very laconic and managed in her statement with extremely vague wording, from which one can understand that the matter is about “embezzlement of funds on an especially large scale”. According to a press release from the department, Maslovsky is suspected of stealing the company's financial assets worth 95 million rubles.

We tried to find out what the essence of the matter is and where such a serious amount came from. So, according to the version of the investigative department of the Ministry of Internal Affairs, in 2018 Maslovsky "out of mercenary motives and for the purpose of personal enrichment" approved the acquisition by Pokrovsky Rudnik of a land plot and a building in Blagoveshchensk at Lenina, 140/1, at a "deliberately inflated at 218.4 million rubles. " Investigators, according to some methods known only to them, calculated that the price of real estate was overstated by at least 95 million, which Maslovsky allegedly put into his pocket.

In the company itself, these accusations caused deep bewilderment. They said that the deal was two years ago, it was checked by both Russian and international auditors as part of the audit of the annual accounts and did not find any violations.

Let's see if the price could be really overpriced, because we are talking about a not a small office building in the very center of the regional capital with an area of ​​2,500 square meters. The popular CIAN real estate website will help you figure it out, where you can find similar areas for sale and compare prices. For example , an office building at 108 Lenina, from which a 10-minute walk to the acquisition of Pokrovsky Rudnik, is billed for 100 million rubles for a footage of 1,000 square meters, that is, 100,000 rubles per square meter. At such prices, the building, which Maslovsky is accused of buying, would be worth the entire 250 million, that is, much more expensive than what Pokrovsky Rudnik paid. Not surprisingly, the auditors did not find anything strange and illegal in the deal.

The Supreme Court is not a decree

The chosen measure of restraint, which was approved by the Tverskoy Court of Moscow, seems even more strange and inexplicable. In June of this year, the Supreme Court specifically adopted amendments to toughen the requirements for the detention of entrepreneurs. The Criminal Procedure Code generally prohibits arrests on charges of economic crimes, but law enforcement officers sometimes try to pretend that this is a common criminal offense. Therefore, the Supreme Court specifically ordered the investigation, when applying for arrest, to prove that the incriminated crime was not directly related to the economic activities of the accused. No confirmation means no arrest.

In this case, even if one imagines that the theft took place, it is clearly connected with the activities of Pokrovsky Rudnik - after all, the building was bought for his office needs. Nevertheless, Maslovsky was promptly sent to jail, which is a flagrant and obvious violation of the law.

Who benefits from the arrest of Pavel Maslovsky?

What could force the law enforcement agencies to put on "mask shows" in the company's offices right on the New Year's Eve, present strange charges, and even put its founder under lock and key, while ignoring the decisions of the Supreme Court? The federal media are already expressing opinions about the ordered nature of the case and about attempts to force Maslovsky to abandon the fight for the enterprise. The same point of view is held at the Pokrovsky Rudnik itself.

The unfriendly takeover of Petropavlovsk by the Urals YuGK, conceived by its owner Konstantin Strukov as a blitzkrieg in June, has clearly stalled. Since the summer, there have been courts, the FAS and British regulatory authorities continue to check the actions of shareholders controlled by Strukov, the staff of the enterprise writes protest letters. In the meantime, production plans are “adjusted downward,” development projects are “postponed,” and the company's share price on the stock exchange falls. It got to the point that it was necessary to urgently change the appointed general director Meshcheryakov because of the criminal case brought against him.

In this situation, the arrest of Maslovsky may turn out to be a desperate step, an attempt to tilt the balance in his favor, as well as revenge for intractability. Then the mysterious presence of the new general director of Petropavlovsk PLC Aleksandrov, who has not and could not have anything to do with the cases two years ago, is quite understandable.

We will refrain from our own assessments of the actions of law enforcement officers. But it should be noted that they are developing according to the classic scenario of raider seizures of the 90s - 2000s: collusion of shareholders, information war against the enterprise, then an attempt to seize by force on their own, relying on "athletic guys", and when it fails it succeeds, the involvement of "friendly" security officials and the fabrication of a criminal case against a competitor.

Already in the process of preparing the material, new information was received, which indirectly confirms all the concerns expressed. A member of the Public Monitoring Commission and human rights activist Marina Litvinovich managed to meet with Pavel Maslovsky in the isolation ward the day after his arrest. It turned out that he was placed in a three-bed cell with two neighbors accused under Article 105 (“Murder”).

“This is a direct violation of federal detention law. Maslovsky, with his article on embezzlement or embezzlement, cannot be held with persons accused of a violent crime, Litvinovich said.

[robertstronghand] 28/12/2020 12:03

Wonder if this was something the audit turned up early on? Apparently someone else has also been detained along with Pavel Maslovsky.

Seems that might well be the case.
hxxp://rusletter.com/articles/pavel_maslovsky_washed_all_the_gold_from_pokrovsky_mine/

[midasx] 27/12/2020 09:48

We just need UVA to turn up now and tell us what bad news it is that the Russian Legal system has now sided with our new board and we could potentially see a return of any misappropriated funds!

[rochdae] 27/12/2020 03:58

The whole market is a punt. Get real.
Pog too many positives for the share price imo. Though progress will be slower, still undervalued. Old management was corrupt. Russians and fraud etc. Just simplistic mindsets.
Roch

[route1] 27/12/2020 03:02

I would say a DANGEROUS punt.

[route1] 27/12/2020 03:00

That's what happens when you try to control a Russian mining company whilst sitting at a desk in GrosvenorSquare..........

[troy] 26/12/2020 21:29

No wonder auditors run scared of Petropavlovsk . It was corrupt back then and it'll be corrupt into the future ! Until it can be run absolutely cleanly with absolute clarity it remains an uneducated investment and a pure punt.