Polymetal Share Discussion Threads

[jl5006] 23/2/2024 16:18

5xy
FGS
There are 2 sides to every coin - urs appears to be one sided.
Y do u persist in victimising one person. Try Biden and mates and have a go at goof Cameroon who instigates sanctions v prison hierarchy - result we cant catch our 40% from artic waters - cod & haddock prices rocket.
Dont forget Doris said to Z dont do a deal to stop the war .
Efforts at peacekeeping???? And the prats talk about Gaza!

[xxxxxy] 23/2/2024 13:22

More to it... Putin has to be handed over to the Hague court for Murder and War Crimes.And then there is the matter of Compensation.

[xxxxxy] 23/2/2024 13:21

A Home Office minister has said she wants to see Vladimir Putin removed from power, in a break with the Government's position.Laura Farris, the safeguarding minister, called for the Russian dictator to be replaced on the eve of the second anniversary of his illegal invasion of Ukraine.Speaking during an edition of Question Time, Ms Farris argued that while Britain could not determine Putin's future by itself, it should work with allies and ensure military victory for Ukraine in order to "ultimately" oust him from the Kremlin.... Daily Telegraph

[loganair] 22/2/2024 13:17

That's exactly what I posted would happen, the Russian buyer would take on the debt + paying $300mln cash.

[action] 22/2/2024 12:28

Poly is selling Russian unit for us 3.8 billion. But getting most in debt....

[xxxxxy] 21/2/2024 10:28

10:02AMBiden to announce 'major package' of Russian sanctionsWashington has confirmed it will unveil a "major sanctions package" against Russia later this week to hold Moscow "accountable" for the death of Alexei Navalny. "As the White House announced this morning at President Biden's direction, we will be announcing a major sanctions package on Friday to hold Russia accountable for Navalny's death in prison," a state department spokesman said.President Biden said last week that there is "no doubt" the death of the Russian opposition leader in an arctic penal colony was a "consequence of something that Putin and his thugs did." The White House announcement comes as the EU today approved its 13th package of sanctions against Russia that will see nearly 200 entities and individuals added to its list.  A foreign office minister said yesterday that the British government is "working at pace" on sanction options.. Daily Telegraph

[xxxxxy] 21/2/2024 10:25

Even rougher when Compensation bills come in.

[xxxxxy] 21/2/2024 10:24

Russia's GDP figures are a red herring. A labour shortage and capacity constraints have fueled overheating, pushing interest rates to 16pc, while what remains of the consumption economy atrophies. The liquid assets of the National Wealth Fund have fallen from 6.6pc to 2.7pc of GDP since the war began.IMF chief Kristalina Georgieva, who grew up under Communism in Bulgaria, said the deformed economy is looking ever more like the Soviet system, dysfunctional and brittle behind the façade. "I actually think that the Russian economy is in for very tough times," she said.... Daily Telegraph

[maxplus2] 21/2/2024 07:45

Why is the market taking recent news of Poly negative?

[loganair] 20/2/2024 16:39

Polymetal International will receive $300m in net post-tax cash proceeds from the transaction. The company’s board intends to utilise the funds to finance the Ertis POX development project to treat Kyzyl refractory concentrate as well as to enhance the company’s liquidity profile.

The transaction is expected to be completed by the end of next month.

On 16 February 2024, the US Department of the Treasury’s Office of Foreign Asset Control provided assurance to Polymetal, stating that it would not impose sanctions on non-US persons, including Polymetal, for participating in or facilitating the transaction.

[loganair] 19/2/2024 20:15

Analysts from Tinkoff Investments pointed out the deal's valuation at an EV/EBITDA multiple of 2.5 times, starkly contrasting with the historical average of around 8 times and current multiples of Russian peers.

The transaction is structured to include $1.48 billion in cash, bolstered by dividends from the Russian business and an additional $50 million, aligning with the company's compliance with all applicable sanctions. Payments are to be made in roubles, reflecting the transaction's adherence to the regulatory landscape.

Looking ahead, Polymetal International plans to channel a portion of the post-tax proceeds towards the development of the Ertis POX project in Kazakhstan, aiming to bolster its production capacity.



Nesis revealed ambitions to re-enter the London Stock Exchange, contingent on scaling the company's production to 1 million gold equivalent ounces over the next three years.

[jl5006] 19/2/2024 19:24

Thank you Sign1.
A less cloudy picture.

[sign1] 19/2/2024 19:01

Intragroup debt of $1.151b arose from the debt pushdown from the topco (holding company level) to subsidiary level (POLY R). As of today POLY INTL owes POLY R the said amount, while POLY R owes the external creditors $2.2b. For the avoidance of doubt: it’s not on top of $2.2b, it’s part of $2.2b. The reason why IGD isn’t reported is because IFRS uses consolidation basis for reporting. It only records the aggregate number of external liabilities, which is ~$2.4b (~2.2b in RU and ~0.2b in KZ) in our case. If we were to publish standalone KZ business accounts – only then IGD would have been visible. On consolidated basis we reported $170m of debt to external parties, because that’s how much POLY K owed and still owes to the creditors. POLY K and POLY R were never split in the accounting sense, because there’s no basis for it. Assets are still under one roof: POLY INT. Following the designation in May 23 we continued to report consolidated numbers, because that’s what IFRS requires. We added some of the reporting lines for KZ and RU for the benefit of investors to see what the country breakdown is along different lines of the i/s and b/s but the basis for reporting remained consolidated.
While I understand that stated $3.7b EV of POLY R is confusing, if seen from the pov of the seller (not the buyer) the IGD of POLY K to POLY R is real, and must be extinguished. That’s why the buyer will upstream $1.479b from POLY R to POLY K, with POLY K returning $1.151b to settle IGD to POLY R and keeping the balance as cash proceeds from the sale. The difference in numbers is tax.

[geckotheglorious] 19/2/2024 17:10

jl5006

One thing America isnt is worse than Russia.
America has declined though since the 70s and the ending of gold standard and the rise of Fed/Deep State.

But a Communist country is far far worse.

[jl5006] 19/2/2024 16:10

5xy u ignore the multitude of atrocities committed by USA - cant understand that US is worse than Russia - about which u know so very little apart from the media slants and limited FACTS.
Phps some of our MPs should be put in the stocks.
Trust no one - least of all the media.

[xxxxxy] 19/2/2024 15:13

Remember Salisbury.

[xxxxxy] 19/2/2024 15:12

Made in Russia.... Murder and War Crimes...Not over until Putin and his Gangsters are in the Hague court.

[xxxxxy] 19/2/2024 15:11

Alexei Navalny was killed by Novichok, his widow claimsYulia Navalnaya accuses Russian authorities of blocking family from seeing body while nerve agent traces disappear from his system... Daily Telegraph

[sign1] 19/2/2024 09:59

Pre payment for Russian POX use.
Basically shipping ore to Russia at a cost. Process it for five year's paid for out of sale. Ship it back at a cost.
Awful arrangement but it's either that or nothing. You ain't getting the proceeds in cash. So this is the next best thing.
Should move up the EBITDA at least in Kazakhstan.

[k1ssxofxdeath] 19/2/2024 08:10

First reactions:

$3.69 billion is indeed considerably more than the net debt which is $2.5bn

There is a strange "intra-group" debt payment which appears to wipe out most of the excess over net debt though. Thats confusing.

What should post Russia Poly be trading at?

It was a third of the business before the invasion so roughly $5-6 per share plus it had, presumably, a third of the debt so EV should be about $7-8. If it is now net cash then really it should be trading at double its current levels.

Thoughts?

[geckotheglorious] 19/2/2024 07:44

Cheers for the update KissofDeath.

[geckotheglorious] 19/2/2024 07:44

masergt
Post 21544
Are Gecko and 1knocker the same person?

What a bizarre question.

I'm not an anti semite, which 1knocker clearly is.

I thought you had me filtered(youve childishly announced such twice!) yet here you are still reading my posts.

[jl5006] 18/2/2024 17:17

5xy
U are rather like Arja on the Lloy BB
Do u live in a hobbit cave or do u see real life.
U think Russia is a bad boy - too young to know what napalm bombs did to the Vietnamese.
U also need to remember the atom bomb on Japan.
Sadly u fail to understand the intrusion into the Minsk agreement by USA.
Invested or just rabbiting on for want of s'thing better.
And u think BBC is an objective reporter? Do grow some!