Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Polymetal (POLY)

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Polymetal (POLY)

#314718

Postby richfool » June 3rd, 2020, 9:06 am

I noted this company announcement this morning, which seems to be accompanied by a falling share price:
03 June 2020
Polymetal International plc

Issuance of new shares

Polymetal discloses the following information regarding certain of its share plans.

In accordance with the terms of the Company's Performance Share Plan ("PSP"), 10,854 ordinary shares of the Company with no par value were issued to certain individuals, none of which are either directors or PDMRs. Further information on the PSP can be found in the Company's Annual Report and Accounts available on the Company's website at http://www.polymetalinternational.com

https://www.investegate.co.uk/polymetal ... 0013ECVCP/

GoSeigen
Lemon Quarter
Posts: 4349
Joined: November 8th, 2016, 11:14 pm
Has thanked: 1590 times
Been thanked: 1579 times

Re: Polymetal (POLY)

#314783

Postby GoSeigen » June 3rd, 2020, 12:21 pm

richfool wrote:I noted this company announcement this morning, which seems to be accompanied by a falling share price:
03 June 2020
Polymetal International plc

Issuance of new shares

Polymetal discloses the following information regarding certain of its share plans.

In accordance with the terms of the Company's Performance Share Plan ("PSP"), 10,854 ordinary shares of the Company with no par value were issued to certain individuals, none of which are either directors or PDMRs. Further information on the PSP can be found in the Company's Annual Report and Accounts available on the Company's website at http://www.polymetalinternational.com

https://www.investegate.co.uk/polymetal ... 0013ECVCP/


Whoooo! Scary!

GS

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Polymetal (POLY)

#314846

Postby Bouleversee » June 3rd, 2020, 4:28 pm

The market doesn't seem to have liked it either which is a pity as they had done very well for me in the past year or so since I bought.

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#314850

Postby richfool » June 3rd, 2020, 4:44 pm

Bouleversee wrote:The market doesn't seem to have liked it either which is a pity as they had done very well for me in the past year or so since I bought.


If it's still below £15.00 tomorrow (currently £14.98), I might use my LGEN dividend to top up.

GoSeigen
Lemon Quarter
Posts: 4349
Joined: November 8th, 2016, 11:14 pm
Has thanked: 1590 times
Been thanked: 1579 times

Re: Polymetal (POLY)

#314891

Postby GoSeigen » June 3rd, 2020, 8:07 pm

richfool wrote:
Bouleversee wrote:The market doesn't seem to have liked it either which is a pity as they had done very well for me in the past year or so since I bought.


If it's still below £15.00 tomorrow (currently £14.98), I might use my LGEN dividend to top up.


Really? So this is the story: a company with 500m shares in issue issues another 10,000. First you post about how something awful must be going on because the market reacted really badly to this horrific news. But then it's not actually bad enough to stop you looking under the sofa cushions for a few quid to buy more of their shares!

It's good entertainment I must admit.


GS

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#314902

Postby richfool » June 3rd, 2020, 9:04 pm

GoSeigen wrote:
richfool wrote:
Bouleversee wrote:The market doesn't seem to have liked it either which is a pity as they had done very well for me in the past year or so since I bought.


If it's still below £15.00 tomorrow (currently £14.98), I might use my LGEN dividend to top up.


Really? So this is the story: a company with 500m shares in issue issues another 10,000. First you post about how something awful must be going on because the market reacted really badly to this horrific news. But then it's not actually bad enough to stop you looking under the sofa cushions for a few quid to buy more of their shares!

It's good entertainment I must admit.


GS

The entertainment to me is the mocking slant that YOU have chosen to put on my post, not to mention your earlier mocking remark:
Whoooo! Scary!
... which I initially ignored.

In fact the point of my post was to highlight to anyone genuinely interested that the announcement of further shares being issued had driven the price of the stock down, which may thus represent a buying or topping up opportunity, to those interested.

In view of your responses I take it you were not interested; in which case you may have done us all a favour by ignoring my post, rather than seeking to mock or undermine it.

Don't call me and I won't call you.

csearle
Lemon Quarter
Posts: 4764
Joined: November 4th, 2016, 2:24 pm
Has thanked: 4812 times
Been thanked: 2083 times

Re: Polymetal (POLY)

#315028

Postby csearle » June 4th, 2020, 9:16 am

I suspect something else is behind the price fall. If minded to buy more it is probably worth finding out what that might be. If it's trivial in the grand scheme of things then the price drop could be seen as an opportunity. I suspect though that you guys are well aware of this. C.

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Polymetal (POLY)

#315052

Postby Bouleversee » June 4th, 2020, 10:14 am

The number of new shares issued is insignificant in the context of share capital but it still aroused my curiosity (who were these people and why no par value?), but not sufficiently to plough through over 100 pages of the Annual Report on my laptop which makes it impossible to read. If it has any serious import, no doubt some news will surface at some point.

This morning's Times gives the reason for yesterday's fall as "Traders seek out riskier assets". Go figure. They must still be hunting as the s.p. is still on a downward trend this morning.

PinkDalek
Lemon Half
Posts: 6139
Joined: November 4th, 2016, 1:12 pm
Has thanked: 1589 times
Been thanked: 1801 times

Re: Polymetal (POLY)

#315059

Postby PinkDalek » June 4th, 2020, 10:28 am

In an attempt to answer one question Polymetal International plc
(a public no par value limited liability company incorporated under the laws of Jersey with registered number 106196)
.

The individuals do not need to be named as they are neither directors nor PDMRs.

These types of announcements are fairly regular - see the various entries for issuance of new shares:

https://www.investegate.co.uk/CompData. ... ouncements

As you suggest, insignificant in the overall scheme of things.

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Polymetal (POLY)

#315074

Postby Bouleversee » June 4th, 2020, 11:02 am

Thanks, PD. I have to confess that I thought all shares had a par value and that recipients under LTIPs were always shown. However, with a Russian goldmining company registered in Jersey I daresay there is a lot going on that I don't know about. Maybe I'll cash in my gains for a change.

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Polymetal (POLY)

#341561

Postby richfool » September 20th, 2020, 8:10 pm

As a holder of Polymetal I noticed that the SP fell back some 6% on Friday 18th September, the day after a Director (Nazimok) sold 11700 shares on the 17th September, and a report came out about Prognoz silver project (see below). Though I don't know if there is a connection between either of these events and the fall in the SP.

Prognoz initial Ore Reserve estimate

Polymetal announces initial JORC-compliant Ore Reserve estimate for Prognoz of 142 Moz of silver ("Ag") at 560 g/t.

"The estimate confirms that Prognoz is one of the best silver development projects globally", said Vitaly Nesis, CEO of Polymetal. "We will continue to advance the project towards development".

Highlights

The initial JORC-compliant open-pit Ore Reserve estimate as at 1 March 2020 comprises 7.9 Mt of ore with an average Ag grade of 560 g/t containing 142 Moz of silver. Reserves have been assessed for Glavnaya (Main), Boloto (Swamp) and Yuzhnaya (Southern) ore zones only.
Reserve estimate is based on US$ 15/oz silver price with silver representing approximately 90% of value contained at this price level.
Mineral Resources additional to Ore Reserves are estimated at 5.6 Mt of mineralized material with an average grade of 552 g/t for 100 Moz of silver contained.
The Preliminary Feasibility Study assumes 9 years of open-pit mining with conventional flotation flowsheet producing clean high-grade concentrate.
The Company expects average annual production of 13.5 Moz of payable silver at AISC in the range of US$ 8-9/oz.
Total project's capital expenditures are expected to amount to US$ 319 million comprising US$ 250 million of pre-production CAPEX (including pre-stripping costs) and US$ 69 million of maintenance CAPEX.

https://www.investegate.co.uk/polymetal ... 0015EIVOA/

https://www.investegate.co.uk/polymetal ... 0003EKUUW/

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#341882

Postby richfool » September 22nd, 2020, 10:14 am

I don't suppose anyone knows why the fallback in Polymetal's share price? It has fallen back a lot more than the movement in the gold price. I can only think it is related to either the large sale by one of the Directors or the report on the remote silver mine referred to in my previous post, or both.

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Polymetal (POLY)

#341905

Postby Bouleversee » September 22nd, 2020, 10:54 am

No; I'd like to know myself as it's one of the few shares that have done well for me this year. Anything to do with exchange rates?

It's not long since Berenberg raised its s.p. target for Polymetal to 2210p following the results and promise of increased dividend (BERENBERG RAISES TARGET PRICE ON POLYMETAL). Perhaps it was something as simple as the director needing some cash for a project or just taking some profits which is what I suppose I should have done. I see the price is up 0.5% today so let's hope it recovers. Maybe an opportunity to top up.

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#342125

Postby richfool » September 23rd, 2020, 9:08 am

Bouleversee wrote:No; I'd like to know myself as it's one of the few shares that have done well for me this year. Anything to do with exchange rates?

It's not long since Berenberg raised its s.p. target for Polymetal to 2210p following the results and promise of increased dividend (BERENBERG RAISES TARGET PRICE ON POLYMETAL). Perhaps it was something as simple as the director needing some cash for a project or just taking some profits which is what I suppose I should have done. I see the price is up 0.5% today so let's hope it recovers. Maybe an opportunity to top up.

I note in the RNS's that 2 Polymetal Directors made share purchases yesterday, one buying at 16.82 and one at 16.83. (1000 and 600 shares) so I conclude the recent report can't have been too damming.

https://www.investegate.co.uk/Index.asp ... e=20200923

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#349801

Postby richfool » October 22nd, 2020, 11:37 am

richfool wrote:
Bouleversee wrote:No; I'd like to know myself as it's one of the few shares that have done well for me this year. Anything to do with exchange rates?

It's not long since Berenberg raised its s.p. target for Polymetal to 2210p following the results and promise of increased dividend (BERENBERG RAISES TARGET PRICE ON POLYMETAL). Perhaps it was something as simple as the director needing some cash for a project or just taking some profits which is what I suppose I should have done. I see the price is up 0.5% today so let's hope it recovers. Maybe an opportunity to top up.

I note in the RNS's that 2 Polymetal Directors made share purchases yesterday, one buying at 16.82 and one at 16.83. (1000 and 600 shares) so I conclude the recent report can't have been too damming.

https://www.investegate.co.uk/Index.asp ... e=20200923

An extract from Polymetal's Q3 2020 production results:
The Company's Q3 gold equivalent ("GE") production increased by 7% y-o-y to 477 Koz of GE driven by strong contributions from Omolon, Varvara, and Kyzyl. GE output for 9M 2020 months reached 1,200 Koz, an increase of 5% y-o-y.

Q3 revenue jumped by 35% y-o-y to reach US$ 884 million on the back of higher gold and silver prices as well as increased sales volumes. 9M revenue amounted to US$ 2,019 million, up 26% y-o-y. The lag between gold production and sales, mainly at Varvara and Kyzyl, is expected to close in Q4 2020.

Polymetal generated record quarterly free cash flow in Q3. Net debt was down by US$ 80 million to US$ 1.61 billion, even as the Company paid US$ 189 million of interim dividends (US$ 0.40 per share, a two-fold increase year-on-year).

https://www.investegate.co.uk/polymetal ... 0007EDBFW/

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#352660

Postby richfool » November 2nd, 2020, 1:25 pm

The first Green Loan under newly adopted Green Financing Framework

Polymetal has agreed the first US$ 125 million Green Loan in the Russian metals and mining industry with Societe Generale to finance investments in transition to a sustainable and low-emissions economy under the Green Financing Framework ("the Framework"

The SP is up by c 3.00% today.

https://www.investegate.co.uk/polymetal ... 0013EUWJY/

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#354005

Postby richfool » November 6th, 2020, 9:34 am

Friday 06 November, 2020
Polymetal International plc

Pesherny initial Ore Reserve estimate

Polymetal reports initial Ore Reserve estimate for Pesherny deposit (Voro hub) of 0.4 Moz of gold.

"Establishing high-grade reserves for Pesherny is an important achievement in extending Voro's life-of-mine", said Vitaly Nesis, Group CEO of Polymetal.

HIGHLIGHTS

The initial JORC-compliant Ore Reserve estimate as at 1 July 2020 comprises 2.1 Mt of ore with an average gold grade of 6.0 g/t containing 399 Koz of gold.
The reserve estimate assumes 7 years of open-pit and underground mining which is expected to commence in Q3 2021.
90% of the reserves are represented by primary ore which will be processed at the Voro flotation plant (under construction, start of production in Q1 2023). Refractory gold concentrate will be treated at Amursk POX-2. Oxide ore will be processed at the existing Voro CIP plant.
Life-of-mine production from refractory material is expected to amount 310 Koz of gold. Average annual production in 2023-2027 is estimated at roughly 55 Koz of gold at AISC of US$ 450-500/oz.
Mineral Resources (additional to Ore Reserves) amount to 0.5 Mt of ore with an average gold grade of 6.5 g/t representing 97 Koz of gold contained.

https://www.investegate.co.uk/polymetal ... 0017EXQBF/

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#354959

Postby richfool » November 9th, 2020, 6:40 pm

9th November:
Polymetal International plc

Ore Reserves increase at Kyzyl

Polymetal announces a 25% increase in Ore Reserves at Kyzyl to 10.3 Moz of gold following initial reserve estimate at East Bakyrchik of 2.2 Moz of gold.

"A substantial reserve addition at East Bakyrchik extends the life-of-mine at Kyzyl to 30 years", said Vitaly Nesis, Group CEO of Polymetal. "Importantly, open-pit mining will now continue till 2036

https://www.investegate.co.uk/polymetal ... 0003EPPCQ/

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Polymetal (POLY)

#354990

Postby Bouleversee » November 9th, 2020, 7:53 pm

Down 11.2% today despite that. I suppose that is because the market thinks we no longer need a safe haven.

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1194 times
Been thanked: 1280 times

Re: Polymetal (POLY)

#361720

Postby richfool » December 1st, 2020, 10:12 am

Polymetal International plc

New exploration JV in Taymyr

Polymetal announces an initial investment of US$ 0.5 million in exchange for a 35% stake in a joint venture with a junior holding an exploration license for the Pekinskaya area, Taimyr Peninsula, Russia (Pekinskaya JV), which adjoins the existing Taimyr JV.

"Through this new joint venture Polymetal has expanded its footprint in the highly prospective Taimyr region with the potential to discover a significant copper-gold porphyry mineralisation", said Vitaly Nesis, Group CEO of Polymetal. "We continue to be committed to further development of our exploration portfolio through partnerships with juniors in the regions of our presence".

It was pleasing to note the reference to copper, as well as gold.

https://www.investegate.co.uk/polymetal ... 0016EYUBK/


Return to “Mining & Metals”

Who is online

Users browsing this forum: No registered users and 6 guests