Polymetal Share Discussion Threads

[loganair] 25/1/2024 11:03

When there was the Scottish Independence referendum, only Scots living in Scotland had the vote while the 30% of Scots who lived outside of Scotland didn't have the vote.

If the same criteria for an EU exit vote was held in Latvia today, Latvia would vote to leave the EU and most probably vote to have some sort of alignment with Russia.

[loganair] 25/1/2024 10:40

I've just been chatting to my male Ukrainian friend in Dnipro. He says he hasn't been outside of his apartment for nearly 4 months and has his female friends bring him food, because if he steps foot outside of his apartment block he says he'll immediately be mobilised.

A female friend of mine who lives on the Ukrainian side of the line of contact, just 4km from the front line says that all the people left in her small town are just waiting for the Russians to walk in and take the town as they want to be part of Russia and not the Ukraine.

My Latvian friends who live in Latvia are saying they would prefer to leave the EU as they would be economically better off having an alliance with Russia. They say the only good thing about being in the EU is the freedom to travel in Europe.

My friends are also saying it is only the Latvian government that is now pro EU and that many of the pro-EU Latvian's have left the country permanently to work in the EU, leaving many of the rest in Latvia being pro-Russian, speak Russian and are culturally Russian.

[loganair] 25/1/2024 08:45

The parts from Hungary and Slovakia and also from Romania after the second world war.

However the part from Poland came from the first world war after the Polish-Lithuanian Commonwealth finally collapsed.

[zangdook] 25/1/2024 08:04

Parts of Ukraine were amputated from Poland, Slovakia and Hungary and should be returned.

[loganair] 24/1/2024 09:56

Interesting to hear how the Ukrainian government are talking about the possibility of moving the capital from Kiev to Lviv/Livov.

More and more this shows that all concerned in the conflict are starting to come to the realisation that the Ukraine will eventually be split into Eastern and Southern Ukraine, 60% of Ukraine becoming Russian and the 40% of what is left will be an unviable, land locked Ukrainian state.

[loganair] 23/1/2024 09:17

I also have an interest in Polymetal and when ever any news comes out I post it as can been seen by my 21426/27 posts of 21 January.

[maxplus2] 22/1/2024 22:13

Production results should be due this week

[1knocker] 22/1/2024 19:36

Zanngdook seems to be the only poster here with the slightest intesst in Polymetal shares, or even in PMs. time to retitle the board?

[xxxxxy] 22/1/2024 14:36

Russia is the UNCIVILISATION.Along with Hamas, and the rest of that ratbag and Iran.There will be no peace until that lot is in the Hague Court.

[xxxxxy] 22/1/2024 14:34

2:18PMUkraine versus Russia is good versus evil, says TuskDonald Tusk has called the war between Ukraine and Russia a battle between "good and evil"."I  am not ashamed to use these big words: it is here, in Ukraine, that the world front between good and evil runs," he told a press conference alongside Volodymyr Zelensky.Poland's prime minister said his country would do "everything" to help Kyiv win the war."The security of the Polish nation and the Polish state is also at stake in this fight," he said.... Daily Telegraph

[zangdook] 22/1/2024 11:03

I think the interview must have been held in 2023 and only published on 18 January 2024; he says

"The board will be ready to approve the investment phase budget at the end of next year. Then, in the baseline scenario, the autoclave will arrive at the site in the summer of 2025"

[zangdook] 22/1/2024 10:57

"For now, the lion's share of time goes on the ongoing migration from London, and I think this will take at least until the New Year."

That's a strange way to talk in January.

"As for longer-term prospects, it is of course necessary to bring back institutional investors. I think there is a chance of that by the end of next year, after sale of the Russia-based assets goes through."

end 2025?

[loganair] 22/1/2024 09:29

More and more photos are coming out of Ukrainian soldiers riding around near the front lines on horses with their heavy equipment on sledges being drawn by horses shows how the Russian army has reduced the Ukrainians from being a modern 21st century army to one of 100 years earlier, an army of the first world war.

Also over the past few days the Ukrainians have lost 50Km2 of territory to the Russians.

[loganair] 22/1/2024 08:29

Interview was Thursday 18th January 2024.

[zangdook] 22/1/2024 07:42

LoganairWhat is the date of that interview? He talks about the new year, presumably he means 2024?

[exotic] 22/1/2024 05:20

No mention of any intention to relist in London.

[loganair] 21/1/2024 19:44

The head of Polymetal International, Vitaly Nesis said in an interview on Thursday:


Q.: Will the company be expanding its own resource base in Kazakhstan?

A.: We have an extensive geological exploration program, which focuses on copper and refractory gold ores, so we have some hope for growth of our own.


Q.: Are you thinking of expanding your mineral resource base by purchasing pre-explored blocks or companies at the pre-mining stage?

A.: We are looking at all options. We have been in Kazakhstan almost 15 years, so we know most of the promising well-known sites. Also, the country is currently experiencing a wave of inactive license withdrawals and termination of dormant contracts. As a rule, these are for anything but top sites, but we are also monitoring the process: maybe the state will put something interesting up for tender again.

We also conducted a preliminary analysis of other countries, formed working groups on some with representatives of government bodies. At this point it's premature to talk about anything specific, but we're seriously looking. Kazakhstan, of course, is a promising country, large in area, with substantial potential for geological exploration. But it wouldn't be bad to have some second, third jurisdiction. One country is good, but two are better.


Q.: What are your impressions of the Astana International Financial Centre’s (AIFC) Astana International Exchange (AIX)?

A.: It’s a very professional, competent and constructive team. The move from London to Astana was a unique project. A lot of difficulties arose - legal, technological - but all of them were resolved successfully. The AIX, AIFC, and AFSA [Astana Financial Services Authority] teams were very pro-active and we are grateful to them for their support and prompt delivery of this complex project.

But we can’t rest on our laurels yet - our interim goal is to increase liquidity. So far the volumes can’t compare with those we had in London. But Polymetal International is already one of the most traded securities on the AIX, with turnover of about 100,000 securities per day. Our interim goal is 1 million securities, and this will be about $5 million. It’s a matter of time before we reach this figure. It can be achieved, and it will mean that Polymetal International is not just formally a public company, but also a liquid investment tool.


Q.: What can the company do for its part to increase liquidity?

A.: We need to work with investors, but our team has always been very active in this regard. For now, the lion's share of time goes on the ongoing migration from London, and I think this will take at least until the New Year. Now the main thing is to help all shareholders, wherever their shares are located, to make a successful move to the central depository in Astana. Then there will be classic marketing: meetings with investors, explaining the company’s prospects on the new stock exchange with a new strategy, with new investment plans.

As for longer-term prospects, it is of course necessary to bring back institutional investors. I think there is a chance of that by the end of next year, after sale of the Russia-based assets goes through.

There’s a lot of work to do and some things will have to be re-done. On the other hand, this, unlike the actual move, is easy to understand, with a fairly standard toolset and sequence.


Q.: As you mentioned selling Russian assets... It seems that there are not many potential interested parties.

A.: I’ll not comment on specific interested parties. There are quite a lot of them. The problem is that the deal will be non-standard; it will involve scrutiny by American and Russian regulators. It won't be easy, but I remain optimistic because these are prime assets and we are totally transparent. The principles on which the transaction will be carried out are also clear: total emphasis on compliance, as well as maintaining the full viability of existing Russian businesses, so that operating plans, investment plans and social commitments are not disrupted. This is crucial to Polymetal International from a corporate governance perspective, as well as to ensure that the transaction itself goes as smoothly as possible, because abrupt twists and turns will inevitably generate unnecessary risks. The task is complex, but clear. The principles are demanding, but can be fulfilled. So let's get on with it.



Q.: It the company prepared to sell assets piecemeal?

A.: Of course not. In fact, of those preliminary expressions of interest that we have received over the last month or so, only two serious offers were for a partial acquisition. All the others, and there are more than ten of them, have been for the company as a whole. We're not even considering a piecemeal sale.


Q.: My reasoning is that some potential interested parties are out of the running because they themselves are sanctioned, and others because not every company will be able to secure funding for such a big deal. Chinese investors will need additional approval to buy federal subsoil areas. Then we’re talking about more than six to nine months.

A.: Foreign investors will want some kind of extension to the process, and perhaps we will not then meet the nine-month deadline. But if we have a signed deal, and it's only a matter of state approval, then I think other stakeholders will understand.

But I am optimistic as regards financing. The gold mining industry is now “hot”, the external environment is very positive against the backdrop of high gold prices and a weak ruble. The assets are quality assets.

I think a deal will definitely be found and done. Yes, there are risks attached to timing, but I don’t think they are that great because we have taken on certain obligations and must honor them.

And we have time - not very much, but enough so that the deal does not turn out to be a fire sale, so that the shareholders of Polymetal International can get a reasonable, decent amount for Russian assets. Obviously it we take a sober look at the situation we can't hope for the same valuation as there was in 2021. There will be some kind of discount, but it needs to be measured in percentages, not multiples.


Q.: Following the sale of assets, will it be possible to distribute funds between shareholders, for example in the form of special dividends? This could encourage shareholders to vote for the deal at the meeting.

A.: There’s a good saying: don’t count your chickens before they are hatched. Better to ask this question once the sale has gone through. Right now I think it’s too soon.

A simple majority of votes is needed to get the deal over the line. If we look at the situation pragmatically, the main factors for shareholders will be its structure and cost. Where the money goes is less important. Polymetal International management has always allocated capital in a balanced and proper manner. At the time of voting there will be more clarity on plans for the construction of the new POX hub, there will be specific ideas on the acquisition of new assets in Kazakhstan, and less likely, but still possibly, in other countries. The main thing is to finish separating the businesses in Kazakhstan and Russia. I think the logic of doing this is so obvious that the vast majority of shareholders will not have any objections. The main thing is for the terms to be reasonable.



Q.: How are management functions now distributed between the Russian and Kazakh offices?

A.: The Russian business is already being managed on a standalone basis. I still spend a lot of time in Russia, but this is mainly in connection to the upcoming transaction, communicating with potential buyers. In terms of production and investment decisions, the new management of Polymetal JSC – it’s not that new in fact, these are people who have been working in the company for about 20 years – is entirely independent.

In general, the business split is already 80% complete. We’ve hired additional employees in Astana, switched to some service contracts with independent providers, in particular in information technology, and we continue to maintain some service relationships without payment, but in the near future we will stop them completely. Ultimately there will be no relations between the Russian and Kazakh parts of Polymetal, with the exception of the tolling agreement.


Q.: What else would you like to convey to investors?

A.: We have discussed both the process and goals very carefully, so I would like to convey the general optimism of the board of directors and management. It is clear that both the sale of the Russian assets and the split of the company into two parts are events that undermine shareholder value. But on the other hand, the Kazakh company, on a standalone basis and left to its devices, will have many opportunities for development and a management team that will be focused on Kazakhstan and other countries in Central Asia. The options will only increase.

[loganair] 21/1/2024 19:28

DUSHANBE - Polymetal, an international mining company with assets in Russia and Kazakhstan, has expressed interest in investing in mining for mineral resources in Tajikistan, national news agency Khovar reported, citing the Central Asian country's State Committee for Investment and State Property Management.

"Issues concerning the establishment of mutually beneficial relations in the mining and trade sectors were discussed in the course of State Committee Chairman Sadi Qodirzoda's meeting with Polymetal International plc board member Vitaly Nesis," the report said.

Polymetal's largest shareholder Alexander Nesis with a stake of around 24% said that Polymetal was thinking of expanding into new jurisdictions. "We've conducted a preliminary analysis of other countries, formed working groups on some with representatives of government bodies," he said. "Kazakhstan, of course, is a promising country, large in area, with substantial potential for geological exploration. But it wouldn't be bad to have some second, third jurisdiction. One country is good, but two are better," he said.

[meanreverter] 21/1/2024 18:32

flying pig: Go to



Scroll down to POLY in the first (ticker) column, and you will see a row for the latest prices. Currently, the last closing price is shown as $4.58. Another relevant and informative page is

[loganair] 21/1/2024 13:52

flying pig - The CEO of Polymetal said last year he hopes the company will be split sometime 2H 2024.

Once split, to relist Polmetal (K) on the LSE.

Therefore there is likely to be no Polymetal news for another 6 months or so.

[loganair] 21/1/2024 13:50

Ever since the USSR fell, the West desire is to cut up Russia into little pieces and take what they want.

Russia is the number one country in the world for natural resources and the West wants to rape and pillage Russia as they did to Africa, Asia and South America. This is exactly what happened under Yeltsin, however as soon as Putin got in, he put a stop to the Wests raping of Russia and the West has hated Putin ever since and have tried to get rid of him and to reply him with another Yeltsin like character such as the CIA trained Navalny.