Polymetal Share Discussion Threads

[mickinvest] 23/2/2021 08:16

Two biggest fallers on my list other than a few covid related stocks, POLY and FRES, who would have thought that at 8am, maddness!!

[scepticalinvestor] 22/2/2021 18:48

thanks for checking!

[mickinvest] 22/2/2021 18:28

Boohoo not on the list si.

[scepticalinvestor] 22/2/2021 17:17

is Boohoo one of those shares listed?

[scepticalinvestor] 22/2/2021 17:16

ok so gold down, POLY downGold up, POLY downwhat the hell

[imastu pidgitaswell] 22/2/2021 12:52

Thanks for sharing. I agree - I knew things were stacked against PIs, but that is something else.

While not personally affected, the market - especially in small caps - will be.

I need to free up some funds for Friday to see what I can get - would help if this could move up. Please...

[mickinvest] 22/2/2021 12:48

I received the IG email about 15 minutes ago and they are giving holders of 900 different shares (Polymetal is one of them) until the end of the week to either close their positions or put up 100% margin. If you do, you have until 29th March to close the positions.

I'll do the latter but shocking they can change conditions so quickly and I'd imagine there will be opportunities to profit in illiquid small caps on Friday afternoon.

[imastu pidgitaswell] 22/2/2021 11:21

There are all sorts of murky occurences on PM stocks. Have a look at the candle chart in the header - see that 5 day sequence at the start of November - 1630 to 1960, before a 15% one day plunge? And the plunge was on the day of the Pfizer vaccine news which sent the FTSE up 200+ points, but gold and silver prices plummeting.

The second part of that makes sense - but the preceding 5 days? Really?

It is what it is - no point complaining. If you can't beat them (And you can't), just join in.

This episode (plunge from last week, which was already a bit silly),I'm pretty sure, is because they can, ahead of the results next week. It will be difficult to have it anywhere near current levels then. Just need to let it happen.

[scepticalinvestor] 22/2/2021 11:15

Bloody gold miners should be bucking the storm todayCrazy mkt

[mickinvest] 22/2/2021 10:36

10:30am and we have been down 46p at one point and now just 10p, was someone fishing for stop-losses at £15?

[mickinvest] 22/2/2021 10:12

That would make sense ip, think you or someone mentioned that about CEY last week, is there a list of all companies affected?

FRES results 2nd March will be interesting to compare them to POLY's on 3rd March, they could be interesting if silver takes off at the expense of Gold so will keep an eye on them.

[imastu pidgitaswell] 22/2/2021 10:04

Just on 949 - are you sure it was just for shorters, and not more a case of no margin trade whatever the direction, which would make more sense?

[mickinvest] 22/2/2021 09:41

Not sure I follow that Togglebrush?

If it's a closed list for shorters, would they not have to close shorts thus boosting the price? Are the changes on IG just for CFD's as haven't been notified of any changes for spreadbetting from them and have a few long spreadbets with them?

*Since discovered it easier just to trade them in the ISA as tight spread and no stamp duty so doesn't make any sense to spreadbet them.

[togglebrush] 22/2/2021 09:35

POLY is on the now closed list for shorters on IG.

Which means that this morning there could have been forced sellers hence price drop ???

[mickinvest] 22/2/2021 08:37

I didn't expect that start to the week, Fresnillo down a bigger percentage so not company or regional specific and probably just JP Morgan and their cohorts messing with the sector.

[imastu pidgitaswell] 22/2/2021 08:17

Very bent...

Patience - the last gnashing of teeth methinks. Not just POLY.


While it seems unlikely on a market cap this big, I do wonder if the 100% margin thing is an issue here and for other PM miners - they do tend to attract a lot of short term speculation (not me, you understand...), on margin, and many of them may be being forced to liquidate.

A lesson learned painfully some years ago - never never never do leverage. They can change the rules at any time. Happy to wait it out.

[scepticalinvestor] 22/2/2021 08:08

Very odd - gold up but POLY down...

[scepticalinvestor] 22/2/2021 07:59

AU heading up - looking very good

[mickinvest] 19/2/2021 16:44

Maybe a few holding back due to the chance of sanctions against Russia, hopefully that gets sorted in next few days and leaves us clear run towards results.

[scepticalinvestor] 19/2/2021 16:41

Pathetic closing UTGold spot hugely upBit of an old sow this share!

[mickinvest] 19/2/2021 13:48

(2) Based on 120:1 Au/Ag conversion ratio (prior to Q2 2020, Polymetal used 80:1 Au/Ag ratio) and excluding base metals (previously were included). Historical comparative data restated accordingly.

I just notied this from the recent Q4 update, it's not material to the bottom line but gives the impression of reduced production.

The ways things are going they'll need to amend it to 65:1 which would substantially increase gold equivalent production numbers?

[scepticalinvestor] 19/2/2021 10:30

most interesting...no doubt there will be loads of traders closing out and a substantial drop in the share price...

[imastu pidgitaswell] 19/2/2021 10:19

Plus the response - it's true:


bocase19 Feb '21 - 09:43 - 43996 of 43999
0 0 0
I am not surprised to see CEY share price falling this morning for the following reason.

IG Markets announced that due to increased volatility, traders holding CFD's in CEY will have to either close their positions or cough up 100% margin on their positions by 3pm today.

As most who trade on 10% margin can't afford to pay for the positions outright this could result in up to 250 positions being closed today. I expect a significant fall today followed by and equally large bounce back either after 3pm today or on Monday.

Why CEY has been singled out is beyond me. They are not the most volatile share.

bocase19 Feb '21 - 09:59 - 44001 of 44007
0 0 0
Imastu: Yes it is true. Here is an extract from an email IG Markets sent me a few days ago.

You are right about leverage. I used to buy on leverage but it is a mugs game. I do a lot better only buying what I can afford to buy and hold.
...................................................................................
Increased margin rates for a range of stocks

Dear Mr Moore

Due to increased volatility, from 3pm (UK time) on Friday 19 February 2021 we are increasing margin requirements to 100% for a range of stocks:

• 7 Digital Group Plc
• 10X Capital Venture Acquisition Corporation
• Ajax I (Ord)
• ArcLight Clean Transition Corporation
• Atlas Mara Ltd
• Brandshield Systems PLC
• Centamin PLC

[scepticalinvestor] 19/2/2021 09:58

can you copy and paste?cant seem to open the link..

[imastu pidgitaswell] 19/2/2021 09:52

I've just seen this - astonishing, I think.