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

cheers GF.

Goes ex-divi wed 29th Jun '11 (7p)

Excelent news for POG this morning no funding worrys and a update in July. Way undervalued and must be worth at least double the SP today. Ive added big really big.

Certainly to that the discount for operating in Russia has reached ridiculous levels - see post 1123 ( it is probably rather more than that now !)

Indeed indeed CP.

UPDATE 1-Petropavlovsk says Jan-May output ahead of forecast
21 Jun 2011 - 07:40

* On track for 2011 target of 600,000 ounces of gold

* Production for first 5 months totalled 158,900 ounces

* Production ahead of forecast, up 33 pct on year-ago

* Sells 197,700 ounces in first 5 months, up 64 pct


(Adds detail and background)

LONDON, June 21 (Reuters) - Russian miner Petropavlovsk said gold production for the first five months was ahead of forecasts and 33 percent up on the previous year, allowing it to confirm its full-year output target of 600,000 ounces.

In a statement updating the market on plans for a pressure oxidation processing plant at its Pokrovskiy mine, Petropavlovsk said output for April to May from the Pokrovskiy, Pioneer and Malomir mines totalled 83,500 ounces. That took total production for the first five months to 158,900 ounces.

Production in the second half of the year is expected to be higher than in the first six months, it said on Tuesday.

The miner also said it is reviewing its long-term production forecasts for 2012 through 2015 after positive exploration results and said full details would be provided with the group's half-year results in August.

Petropavlovsk said the feasibility study for the Pokrovskiy pressure oxidation plant and two plants at Malomir and Pioneer had been finalised, with final capacity for the Pokrovskiy plant defined at 600,000 tonnes of concentrate per year.

It expects to spend a total of $181 million on the hub in 2011 through 2015.

(Reporting by Clara Ferreira-Marques; Editing by David Holmes)

POG management certainly needs to learn how to manage its pr and to talk straight for a change .... company has an appalling record of falling short of its forecasts and has been deservedly punished

UPDATE 2-Petropavlovsk eases funding worries, shares climb
21 Jun 2011 - 09:57

* Says no need for additional funds to complete capex plans

* New facility processing costs similar to current costs

* Confirms full-year output aim, Jan-May ahead of forecast

* Shares rise 8 percent


(Recasts with shares, quotes, detail)

By Clara Ferreira-Marques

LONDON, June 21 (Reuters) - Russian miner Petropavlovsk will not need to tap the market for funds to complete ambitious growth plans and expects to meet its 2011 production target, it said, sending its battered shares up 4 percent.

In an update on plans for new facilities to process so-called refractory ores, Petropavlovsk on Tuesday denied long-standing speculation it would need a capital increase to fund the expansion and said costs would remain equivalent to those at its other projects.

Fears Petropavlovsk could need to turn to the market and concerns the industry's already rising costs could escalate further have contributed to a drop in the miner's share price, down almost 38 percent so far this year.

"The market has not understood that we have sufficient resources to fulfil our expansion plans," Chairman Peter Hambro told Reuters, excluding a rights issue.

"As we move towards the ability to process the more difficult to treat ores that form the majority of Russian resources, we are having to spend ... but we have the resources to do it and the profit margin ... is extremely good."

Shares in Petropavlosk were up 8.19 percent at 733.5 pence at 0853 GMT, making it the sector's top performer.

"Alleviating funding fears, the company states it has $436 million of available bank facilities and cash and all planned capex is fully funded," Liberum analysts said in a note, adding the market could now "revisit the growth and investment case".

Petropavlovsk said the feasibility study for its Pokrovskiy pressure oxidation plant and flotation plants at Malomir and Pioneer had been finalised, with capacity for the Pokrovskiy plant defined at 600,000 tonnes of concentrate per year.

It said cash costs for the pressure oxidation plant were expected to be similar to current costs for Pioneer and Malomir and has already signed a contract for key equipment. It expects to spend a total of $181 million on the hub in 2011-2015.

Petropavlovsk has met with skepticism from some in the industry who have questioned its ability to process the difficult ores at a commercial price. But the miner says it has engaged experts with long-standing experience in the Russian mining sector, who will present to analysts on Tuesday.


OUTPUT RISING

The miner also said gold production for the first five months was ahead of forecasts and 33 percent up on the previous year at 158,900 ounces, allowing it to confirm its full-year output target of 600,000 ounces.

Petropavlovsk said output for April to May from the Pokrovskiy, Pioneer and Malomir mines totalled 83,500 ounces.

Production in the second half of the year is expected to be higher than in the first six months, it said on Tuesday.

The miner also said it is reviewing its long-term production forecasts for 2012 through 2015 after positive exploration results and said full details would be provided with the group's half-year results in August.

Hambro said earlier this year he expected gold prices to be around $1,500 to $2,000, and he said on Tuesday prices could hit the higher end of that range later this year. Spot gold is currently just above $1,540.

(Reporting by Clara Ferreira-Marques; Editing by David Holmes and Hans-Juergen Peters)

#ADVFN $POG http://t.co/TtfFIm6

"Alleviating funding fears, the company states it has $436 million of available bank facilities and cash and all planned capex is fully funded," Liberum analysts said in a note, adding the market could now "revisit the growth and investment case".

First of many broker upgrades just out....

Petropavlovsk
FTSE 250
Basic Materials
Buy
1150
717
60.4%
Canaccord Genuity


Target 1150p 60.4% upside.

brokers have been touting POG for months, but to no avail - so far

cynic .
What is your stake in this one now? If you are in, then surely now is the time to get a few more! Especially with gold expected to rise further+

1000 shares showing a very nasty loss + 750 bought this morning

Its the greek vote cyners at midnight. markets holding back. Boring me to death. On holiday at moment in Ibiza, good job. This market is like watching traffic lights change.

Those bought this morning will just be in profit wont they?, JUST. Depends if u got them first thing I suppose.

I added another tranche this morning on top of 2 recent tranhes that are red. not very red now though and this morning, going red blue red blue red blue presently evens.

bated breath until vote is through and positive, and then holding breath again for the next few weeks

Well yep.

Mining Sector: Petropavlovsk up after it reveals it remains on track to meet output targets
21 June 2011 | 16:02pm

StockMarketWire.com - Petropavlovsk (LON:POG) was the sector's strongest riser after it revealed it remains on track to meet its 2011 production target of 600,000 oz of gold.

During April and May, combined total gold production from Pokrovskiy, Pioneer and Malomir amounted to 83,500oz and production for the first five months totalled 158,900oz, ahead of thegGroup's forecast and 33% higher than the comparable period in 2010.

Production in H2 2011 is scheduled to be higher than H1 2011 due to the contribution from alluvial operation and heap-leach operations and higher head grades at Pokrovskiy and Pioneer plants.

The volume of stripping works undertaken to access ore planned for processing in H2 2012 is on schedule.

Chairman Peter Hambro said: "The creation of a pressure oxidation hub at Pokrovskiy will propel the group into a new and exciting phase of development and give Petropavlovsk a strong competitive advantage in this highly prospective field.

"Russia has a significant reserves and resources base, which primarily consists of deposits containing refractory ore.

"We see our future Pokrovskiy hub, located in close proximity to excellent infrastructure, as the key to unlocking the value in a number of dormant, inexpensive assets requiring this technology."

Petropavlovsk's shares were up by over 7% in late afternoon trading - just ahead of Bezant Resources (LON:BZT) - up by over 6.6%.

The sector's biggest fallers were Churchill Mingin (LON:CHL) - down by over 13% - Kalimantan Gold (LON:KLG) - won by over 11% and Green Dragon Gas (LON:GDG) - down by nearly 11%.

http://www.stockmarketwire.com/article/4168213/Mining-Sector-Petropavlovsk-up-after-it-reveals-it-remains-on-track-to-meet-output-targets.html

positive start....

Broker Evolution Securities said the statement from the company is very positive and demonstrates the progress which Petropavlovsk has made in many areas of its business. Delivering results is key to a re-rating for this stock which we continue to believe is the most undervalued of the larger gold companies which we cover.

The broker reiterated its buy recommendation and 1520p target price
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Petropavlovsk glitters as equities recover
By Rachel Cooper, City Reporter7:06PM BST 21 Jun 2011
http://www.telegraph.co.uk/finance/markets/marketreport/8590388/Petropavlovsk-glitters-as-equities-recover.html

Since the beginning of the year, Petropavlovsks shares have looked somewhat tarnished, losing about 35pc. But investors took a shine to the Russia-focused gold miner as it eased fears it would need to tap the market for funds to complete ambitious growth plans.

By Rachel Cooper, City Reporter7:06PM BST 21 Jun 2011


As the wider markets also recovered their lustre, Petropavlovsk soared 51 to 729p after it updated on plans for new facilities and rebuffed speculation that it would need a capital increase to fund this expansion, stressing that costs would remain equivalent to those at other projects.
Peter Hambro, chairman of Petropavlovsk, told Reuters: The market has not understood that we have sufficient resources to fulfil our expansion plans.
He added: As we move towards the ability to process the more difficult to treat ores that form the majority of Russian resources, we are having to spend ... but we have the resources to do it and the profit margin ... is extremely good.
That, along with a confirmation from the company that it expects to meet its production targets this year, helped the miner take the FTSE 250s silver medal.Petropavlovsks advance came as the market regained its poise. Having been dragged down by uncertainty over when and how Greeces debt saga will be resolved, dealers took the opportunity to go bargain-hunting.
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