Polymetal Share Discussion Threads

[montyhedge] 13/9/2021 07:14

Strange gold up today, Poly down, when gold down, Poly down of course.If other words no one likes Poly it seems, just shows how much control the bears have.

[plat hunter] 12/9/2021 16:56

BP's my hedge for POLY, world is sprinting towards an energy crisis with prices getting out of control at the moment.

[finctastic] 12/9/2021 16:09

My thoughts/hopes too Timy. I have already swapped some BP for some more Poly. Didn't see Poly dropping to these levels tbf so who knows if it was a good call. Just think there is more value here than in anything else I hold right now.

[timydogy] 12/9/2021 15:33

Phat cheers buddy.
POG at 1750 might not effect Poly. Might actually push Poly up. Opposite reactions. Never thought we'd be down here. I think the S&P is in for a big drop. BP at 250p. But me thinks Poly might weather the storm better.

[plat hunter] 12/9/2021 15:20

Timy I see gold at 1750 before moving higher (couple of gaps to fill) but this correction is transitory imo. I see circa 1900 for pog by year end

[timydogy] 12/9/2021 15:20

Opinion's welcome. Got £50k in BP. Av 254p. Leave it or sell tomorrow and buy more here. BP yield 6% here over 7%. BP sideways whereas here 2000p potential. Can't see BP above 325p. Any thoughts what you would do?

[scepticalinvestor] 12/9/2021 14:47

*surprised

[timydogy] 12/9/2021 14:40

Sven. What is the RSI.
My last dip here was 1380p. Reluctant to buy anymore. But seemed to have bounced off 1367p.
If it continues it's downward decent tomorrow, will await the downward trend to end. Thought the bottom was 800p with Fres. How wrong I was. Can anyone see 1300p here. See how gold opens tonight. Nothing surprises me anymore the whole market is bent and manipulated.

[scepticalinvestor] 12/9/2021 14:23

Given the substantial value here, I would be extremely if there is no rebound this week.

[svend2] 12/9/2021 11:05

Plat Hunter Yes shall be interesting to see if the triple bottom is able to act as support along with the previous resistance point prior to its rise higher RSI is oversold

[plat hunter] 11/9/2021 13:14

Several 'Factors of Confluence' here and lots of upside to look forward to

[1knocker] 11/9/2021 11:52

I have posted at length, and have said enough on this subject, but will finish by distilling today's posts into a single sentence:

No miner can, save in the very short term, take a larger proportion of the proceeds of mining than the local population considers 'fair'; the world over we all consider that others (especially 'exploitative rich foreigners') should pay any extra tax required; nor will any cash-strapped administration hold off from taxation of a soft target for fear of killing the goose that lays the golden eggs, because that is the next administration's problem.

[1knocker] 11/9/2021 11:17

True, philanderer. It is always attractive to give local government a statutory obligation to provide a service, the problem of how to pay for it, and the blame for insufficiency of provision, while putting up the minimum wage to show how caring the central government is!

Expect constant rises in the new NHS tax - who could be s o greedy and unfeeling to object to paying more for the NHS? But don't imagine that the NHS is ever going to be so flush that it disgorges any of that money for care provided by local government, or that any government will enter the fray against the NHS.

When money has to be found, the name of a tax, and the ability to identify a rapacious or undeserving taxpayer matter. I see that Crypto refers to 'greedy landlords' for example, as people who could reasonably be stuck for a bit more in this country. Pick your favourite team, NHS or greedy landlords. No contest.

How does a foreign miner sound as a target in Russia, Africa, S America? An 'excess profits tax' or an 'environmental restoration and protection levy' appeals in any jurisdiction, especially if it will fall upon a rich foreigner. If 'greedy UK landlords' seem fair game for an extra UK tax to an investor and UK national like crypto, how much more attractive is a tax on (or even outright expropriation from) 'greedy despoiling foreign miners' going to sound in poor countries with foreign owned mining companies raking in profits and paying them to overseas shareholders?

I think it will pay to accumulate a bit of bullion before the price rises, as well as mining shares.

[finctastic] 11/9/2021 10:41

It's the way its going to go regardless of whose in Government, if you have money they are going to want/need it for the Covid bill. Inflation will likely have the rest!

[1knocker] 11/9/2021 10:34

I think the CEY pullback is probably the result of structural problems leading to increasing mining costs and perceived jurisdictional risk, combined with the failure of gold to break out. When the sector is weak, any stock or country specific problem is magnified in investors' eyes and spooks that company's share price disproportionately. With just about every government in the wold potless, I think hikes in state mining fees and taxes are inevitable when prices and profits rise, and while straight expropriation is unlikely in N America, Australia for example, miners operating in such 'safe' jurisdictions will not be exempt from increasing state levies, though they may be disguised as environmental payments and the like.

All one can do is to hold a spread of companies across a number of jurisdictions, and to bear in mind when calculating what price to pay that windfall profits flowing from incising commodity prices are not all going to reach the shareholders, especially where a foreign miner can be characterised as exploiting finite resources to the detriment of the environment and thus growing rich by robbing the indigenous population of their birthright. Investment in creating the mine and delivering the wealth is soon forgotten once the profits flow, especially if they flow abroad.

[philanderer] 11/9/2021 10:15

They've got the Council Tax to wang up for that next april.

[crypto nugget] 11/9/2021 09:42

I always keep the high yielders in an ISA.

Personally don't think its too much to ask for a slight increase in tax.

This clown can't do anything right anyway. Far fairer for the rich and greedy landlords to cough up instead of ordinary working people especially the young. The bulk of the money will be wasted in any case so the masses can kiss goodbye to any "social care" they may need in the future.

[plat hunter] 11/9/2021 09:33

It's the same all over...CEY is now priced similar to March 20, post the covid 19 sell off.The dislocation between the producers and the metal is simply inexplicable to me. I also don't buy that people are pricing in a lower gold price either.

[scepticalinvestor] 11/9/2021 09:00

Very unusual week for POLY - have never seen the share price crash by this much within a few days. There is evidence of substantial shorting which is odd esp around ex divi day. .Annoyed to read that the gov is increasing divi tax - these ppl are about as conservative as chairman mao

[garycook] 11/9/2021 02:27

7.06% with GBP/USD 1.3833 atm.

[cassini] 10/9/2021 22:39

The forward looking yield looks to be more like 7.6% I estimate, given today's closing price.

[crypto nugget] 10/9/2021 20:49

The Motley Fool, seven weeks ago, and even more relevant now:-


Going for gold,

I think Polymetal’s (LSE: POLY) another top FTSE 100 stock to buy today. As I say, central banks will likely keep their interest rates quite low for years to come, keeping inflationary concerns rumbling along in the background and supporting demand for hard currencies like gold. It’s a scenario which this particular UK mining share will be well-placed to exploit as it steadily ramps up production from its world-class Russian and Kazakh assets.

The complexities of digging for metals leaves Polymetal at risk of profit-hitting production issues and ballooning costs. But I feel these problems are baked into the company’s share price today. The business trades on a forward price-to-earnings (P/E) ratio of below 9 times. One final thing that makes it a top FTSE 100 share to buy today is its mighty 6.7% dividend yield.

[action] 10/9/2021 20:12

HSBC do not charge fx fees. Spot market price. You can also have currency ac when you buy and sell.

[crypto nugget] 10/9/2021 16:37

1knocker - thanks - and nice to see you here too.

In my humble opinion, with gold hovering around $1800 and ready to move sharply upwards in the fullness of time, POLY at 1375p are either a sitting takeover target - shall we say £17, or with an RSI under 30 stupidly undervalued.

An accumulation story on the current share price action.