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.
Somebody knows what the capital stake of Deutsche is now? In the RNS it states they have 7.4% voting rights, but no ordinary shares?
Sorry im new to all this, but where can I find these disclosures?
contrarian, where did you find the info regarding the sothic stake?