Petropavlovsk Share Discussion Threads

[orchestralis] 16/5/2022 15:15

Why would Gazprombank assign the revolving credit to Nordic LLC? Can somebody explain.

[pwhite73] 16/5/2022 14:27

Exactly. But what they're reporting kills two birds with one stone. It shows they are complying with the sanctions and if they want to steal the company from the PI shareholders what better way to do it then to blame the same sanctions. If this comes good it'll come good big time but at the moment its too risky. Too many crooks involved at every level.

[gaffer73] 16/5/2022 14:00

Just pay them in gold straight from the smelt. Then issue a 'production is down due to ongoing conflict' statement, who would ever know?

[pwhite73] 16/5/2022 13:20

You see at the end of the day it all depends on how far the company is prepared to go with this charade.

GPB is there only customer. The government has imposed sanctions on GPB so if POG are complying with the sanctions then by default they have to report worsening financial conditions. There is no way POG can be reporting profits or better trading since the sanctions unless they were clearly in breach of them.

In reality I don't believe the dire financial circumstances with GPB actually exists. There is nothing to stop the Russian subsidiaries in Russia from handing gold or cash to GPB to service the debts, regulators in the UK would never know. Furthermore because the UK has imposed sanctions on Russia neither GPB or the Russian subsidiaries would give a toss what the UK regulators think.

The danger for POG shareholders is if the directors are prepared to take this all the way to suspension to show they have been complying with the sanctions. If not then this could be a recovery play.

[srpactive] 16/5/2022 13:13

PW

That is what Fortiana are thinking probably, a ten pound note
for the cost of a pound.

dyor

[zen12] 16/5/2022 13:01

Agree that's a good post PW welldone!

[cromw3ll] 16/5/2022 12:29

PWhite - contribution is appreciated because your making people think, that is an asset to any BB.

[pwhite73] 16/5/2022 12:26

Technically there is nothing wrong with the company as both the operations and clients are in Russia. As far as I'm aware the subsidiaries have not stopped producing gold so the money is there to service the debts but the Plc is not allowed to pay GPB or extract money from the subsidiaries. Today's RNS is old news its all in RNS 14/04/2022 but for the change of creditor and another payment date 14/05/2022 they've defaulted on.

They are either trying to steal the company from its shareholders or playing up to the public gallery about them being in dire financial difficulties when in reality they are not.

Hard one to call.

[srpactive] 16/5/2022 12:26

Fortiana must be seriously interested.

What an average down for a bigger gold producer with more.

dyor

[robertstronghand] 16/5/2022 12:21

RCF and term loan no longer with GPB and waiver granted for selling the gold, I expect the bondholders will be similarly pragmatic. Just need gold to start moving up, relieved to see POG moving up on the Moex.

[srpactive] 16/5/2022 12:20

Yes it does appear it is going to be sold now, £70 mcap,
hgm sold for £1bn.

Just a comment nothing else, very high risk indeed.

dyor

[uxbridgearms] 16/5/2022 12:12

This is going to be stolen from shareholders in the fiddle of the century.

[welsh3] 16/5/2022 11:59

Going going gone

[onedayrodders] 16/5/2022 08:32

That's nice .. ahhh

[danmart2] 14/5/2022 20:57

Indeed,
Nothing but respect for pwhite73 contribution on both the POG and NCCL forums

[apple53] 14/5/2022 20:36

Thanks PWHite.
Useful - even for those that disagree with you, you have provided a list of thoughts, mostly negative, which need to be addressed and refuted with facts rather than expletives.

[pwhite73] 14/5/2022 09:19

Do you even understand the RNS. If GPB attempt to seize the Russian subsidiaries POG will seek a waiver and ask for the Russian subsidiaries to be placed into bankruptcy so they can continue to operate protected from its creditors. Once in bankruptcy they are no longer the property of POG PLC but the property of the courts. Similarly McColl's have just gone into administration. They are no longer the property of its shareholders or the directors but the property of the administrators. If all the Russian subsidiaries go into bankruptcy then by default the shares should be suspended.

I'm not sure why POG claim GPB can seize the assets when they clearly cannot according to the bankruptcy moratorium.



Until the war is over and the international community lift sanctions against Russia nothing good can come from investing in POG except the odd spike caused PIs who don't understand what's going on.

Be careful suspension can come out of the blue anytime.

[robertjt] 14/5/2022 06:33

When the Russian government approve the bankruptcy waiver then we should see another share price jump in support

[zen12] 13/5/2022 19:50

Seriously fella you need to get a life...surely there is more to life than constantly just deramping shares.May I suggest you actually invest in shares you believe in...you deserve to make some money fella!

[pwhite73] 13/5/2022 18:30

POG PLC where shareholders have their money is insolvent. The Russian subsidiaries as named in the RNS 12/05/2022 Pokrovskiy Rudnik JSC, Albynskiy Rudnik LLC, Malomirskiy Rudnik LLC and TEMI LLC are not insolvent. They are all profitable gold producing companies.

The threat as outlined by POG in RNS 12/05/2022 is not for GPB to seize POG PLC but to seize all the profitable gold producing subsidiaries in Russia.

POG PLC IS INSOLVENT. You've been warned.

[fission453] 13/5/2022 17:04

Pog is a well run Russian company. And they are not insolvent!

[texas ranger] 13/5/2022 14:09

Guys look loop is starting to move again, 2 weeks ago it went up to 17p, now 9p. Moved from 8p so far on low volume.

[pwhite73] 13/5/2022 12:55

What do you mean if people see Russian firms as high risk. Russian firms ARE high risk and will remain high risk for the foreseeable future. It is right and proper that ordinary PIs remind one another why the firms are high risk. Few Russian firms are as high risk as POG that are already in default to the value of $100 million.

The FCA should have already suspended the stock because they are currently insolvent.

Be careful