Petropavlovsk Forum

I know people keep saying that gold prices have no effect on POG but of course they do, American markets just opened and gold surges fouur dollars in the right direction.

Naive indeed , price has fallen again almost as I posted

The gold price rise just before the USA markets open is weird as Janet Yellen is giving a speech today regarding an interest rate rise in the dollar. Now naive me would have thought that if the rise was imminent then people would be selling before the price of gold fell? But hey what do I know,

never mind, I already found it in prior press releases.....russian billionaire Vekselberg has added to his stake!

anybody know who is begin Lamesa Holding? Is that a company affiliated to the russian Billionaire whom recently bought a stake?

Hambro speaks: [link]

@ Canillasboy, where did you read or hear 'high probability of disposal of IRC in 2015'?

is at the low end of the cost curve, as it is stated that the K&S mine is able to produce and deliver iron ore for 54USD per tonne to the Chinese border! My bet is that the Chinese (GN and Minmetals) waited how the refinancing of POG would work, guess they will now complete the share subscription as they already invested 170m US in IRC for 80%, so final payment should not be a problem! Hopefully IRC results will not be consolidated in 2015 POG results!

IRC is a big drag indeed and investors in POG want it for the gold exposure and not for iron ore exposure. However, there is a lot of oversupply in the iron ore markets which will force lower cost producers out. IRC is

Tomorrow (tonight) the official results of IRC, cash loss attributable to shareholders will be 50m. As POG still holds +-45% the loss attributable to POG will be around 22m. Important to see how POG shareholders will react to yet another cash loss and huge non-cash impairments.