http://www.kitco.com/charts/livegold.html

cheers GF.

the bottom!

It isn't as though the expectations have not been well flagged.
The price of gold is down about $50 over the last few days,so that won't help either.
Some bit of good news might do the trick.
Meanwhile,I am on the sidelines.

Cheers, Cynic, that's really helpful! I am still thinking that 900p may to achievable, so like cp, I am waiting & watching.

i always like to scatter a few pearls of wisdom, even if before swine!

.

Poor POG.

Nobody loves them.

I might if it goes under 900p.

Most of the others in the sector are off to the races.
Thank god I am well clear of it.

POG screw it up yet again .... yet another slashing of production forecast


Russian gold miner Petropavlovsk reduced its gold production guidance again for 2010, although it said many of the difficulties that had arisen during this year had now been successfully overcome.

It expects to produce 510,000-530,000 ounces of gold in 2010, down from the 636,500-670,000 ounce guidance given in August and the 670,000-760,000 ounces given before that.

The company was hit by a delay in the delivery of major mining equipment and extremely harsh weather as it worked to ramp up production at the Pioneer mine, it said on Wednesday. It was also negatively affected by lower grades.

"The previously highlighted equipment delivery problems and the exceptional adverse weather created significant operational difficulties for the group which were beyond our control," said chairman Peter Hambro.

if the fall is hard this morning - let's say to 850 - then PERHAPS worth a punt, but the markets can be pretty unforgiving, especially of companies that consistently and persistently fall short

800p would be more likely as production has been slashed twice.

Now that would definitely get me interested!

I wonder if anyone has calculated how the revised figures stack up against their peers.
My guess is that POG will still take some beating on say PE ratio for a start.
Having said that,it is,for the holder, a bit like sitting on a powder keg!

Don't forget that the sp has lost 100pts over the past few days so some of the reduced production targets may be in the price already.

Very difficult to call it.

next downgrade in production any one fancy a guess? do I hear 400,000 anyone, 350, going going.....

Continuing to hold and hold and hold zzzzzzzzzzzzzz

Enough to make you want to slash your wrist,and it must be even worse for them that hold!
Why not check out VGM, somr prospects there methinks.(Vatukoula Gold Mines)

Been there CP and took profit when it seemed to`hang at .036p, learnt my lesson the last time I sold too early and not going back in at the mo.
edit. I hold POG, idiot that I am had lots of chances to sell at profit, but hoped drop was short lived. Only about 90p/share down at mo so here's hoping and fingers crossed no further down.,.

Plus 27p this am, at least thats kept Harry at bay......lol

Nothing goes down in a straight line (except Connaught)! Though unpopular with holders, I still expect sub 900p.

Questor share tip: Gold miner Petropavlovsk in danger of losing its shine
One of the most important tasks a company has to do is manage market expectations. Petropavlovsk has not done this.
By Garry White
Published: 7:00AM GMT 04 Nov 2010
Comment
Petropavlovsk has cut its production guidance Photo: ALAMY Petropavlovsk
903p -35

The best way to do this is to under promise and over deliver. Petropavlovsk, formerly Peter Hambro Mining, appears to have done the opposite.

Yet again, the company has cut its production forecast for the current year blaming the weather and a delay in the delivery of equipment.

"The delay in the delivery of major mining equipment, in combination with the extremely harsh weather and the challenges of handling a significant increase in mining operations at the Pioneer mine, caused a 30pc decrease in mining works during the first nine months of the year compared with the mining plan," the company said.

"The group did not have sufficient contingency in its mining plan for 2010 and a combination of several unforeseen external factors during the first nine months led to a deferral in the production schedule," it added.

As a result, 2010 full-year gold production will now be in the region of 510,000 to 530,000 ounces. The company said in August that it may miss its 670,000-ounce target by as much as 5pc, then, on October 7, that the group was "striving" to hit its full-year guidance.

Peter Hambro, the group's chairman, yesterday accepted Questor's strident criticism of the company's handling of this issue with humility. He said that Petropavlovsk had endured an "annus horribilis" but argued that the shortfall was caused by things outside the company's control.

The delay in the delivery of an important piece of mining equipment from a major supplier has caused a shortfall on the mining side, with a knock-on effect in its processing operations. He also said that new senior management at the Pioneer mine would be put in place and that the company had learnt a lot from the disappointments over the past few months.

However, it was not all negative. Third-quarter gold production of 138,300 ounces was 37pc higher than in the previous quarter. Gold production for the first nine months was 346,200 ounces, which means the group needs to produce about 174,000 ounces in the final three months of the year to meet the revised full-year target. The company will next give an update on production at the end of January.

Of course, the gold in the company's mine is still in the ground. It will be mined and sold eventually. However, Questor liked the company because of the low multiple on which it was trading. It was argued that, as production and results improved, the shares would then be re-rated and trade on a higher multiple. Unfortunately, the production problems and the handling of the issue have put paid to this for now.

The City can be very unforgiving after something like this, so Petropavlovsk cannot put a foot wrong next year and must prove itself to the market once again.

Questor had recommended buying the shares as high as 12.62 in June, before the production issue started to unravel, so investors who bought in at that level will be sitting on substantial losses. However, investors holding the shares can be reassured by the fact that these problems can be rectified with time and management effort.

The shares are trading on a December 2010 earnings multiple of 16, falling to 9.5 next year. However, it is likely the forecast will be trimmed and these multiples will move higher. The prospective yield is 0.2pc.

The shares were first tipped as a buy on July 21 last year at 626.2p and are up 44pc compared with a FTSE 100 up 28pc. The rating on the shares remains hold.