...The arrangement with Hambro “gives Rio the right to look over Hambro’s shoulder at confidential data they are getting.”....

The quote is from a Mineweb article back in March, since when several funds have stepped up their holdings (they now hold near 30%) and the price has soared beyond 2 and beyond 3.

I wouldn't be surprised to see this share reach 10 this year (although I guess they might split it before then). A year ago these were 1.




The article went on to quote Hambro as suggesting POG will need the backing of a very big player if things go as expected, and pointed out that Rio wants a presence in precious metals and/or diamonds in Russia.


http://www.mips1.net/mgjr.nsf/0/85256ACE0035918D42256CE70057FB4E?OpenDocument

Edit: In the past few weeks POG has listed in the USA (Ticker POGNY) and is planning to follow this up with a promotional roadshow. So presumably any move by RIO (if there is one) is at least a few months down the line, giving time for them funds to load up some more, but leaving fewer for the rest of us to get hold of.

POG are playing this game much better than other fledgling gold producers.Peter and Pavel still have their major shareholding and as they still have lots of cash even after spending $25mil on the Ametistoveye acquisition.The banks must be falling over each other in their offers to fund the construction of this new mine scheduled to commence production in 2006

If RIO want a part of any joint action they will need to pay a high price,and as things stand POG does not need them,and if I am reading between the lines correctly they want to keep them at arms length