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POG CHART. Gold looks like its on the Rise. (POG)
goldfinger
- 06 Aug 2004 16:15
aldwickk
- 17 Jul 2011 09:49
- 1166 of 2076
goldfinger
- 18 Jul 2011 09:32
- 1167 of 2076
From Minesite:-
July 14, 2011
Petropavlovsk Announces Ambitious Plans For Pressure Oxidation Plants In Russia, Just As Gold Breaks Into A Canter.
By Charles Wyatt
Some mining companies find that it takes time to recoup a reputation for efficiency when they miss production targets on one or more occasions in a row: others find that investors can be very forgiving.
PETROPAVLOVSK is just such a one, as last year the company produced 508,600 ounces, which was just shy of the production target of between 510,000 and 530,000 ounces. Not much of a miss, I hear you say, but a miss is as good as a mile when pessimists compare it with the top-end target. Anyway Peter Hambro took it on the chin and forecast 600,000 ounces for this year, a forecast has always looked entirely realistic given that no account was previously taken of the Albyn mine, due to commence production in the fourth quarter, nor of the Malomir mine, where the plant expansion will come on stream in the second half of this year. And, now that the company has confirmed that it is on track to beat this target, the share price has pulled sharply out of the long downtrend which started back in February.
In fact Peter Hambro is so determined not to fluff a forecast again that the target actually looks pretty easy, especially as mine planning has been revised to cut out some of the likely peaks and troughs of stripping works and mining. Some of the high grade areas will now be left until 2012 to make sure the company always has something in hand to meet unexpected difficulties.
According to John Meyer of broker Fairfax, gold production from April and May from the companys three key mines, Pokrovskiy, Pioneer and Malomir, rose to 83,500 ounces. That took production for the first five months to 158,900 ounces which is ahead of forecast and 33 per cent up on the same period in 2010. The annualised rate is 501,000 ounces on current production but improving weather conditions, says John Meyer, should enable gold production to rise significantly through the summer and second half till winter sets in. In addition, alluvial and heap leach operations will also boost production during the summer.
The most significant bit of news to be found in the recent production update is that feasibility study work on pressure oxidation plants for treating refractory ores, which go by the somewhat dubious acronym of POX, has now been completed. These plants will now be added, where appropriate, to the mining operations. The basic plan is to have the POX plant itself as the hub at Pokrovskiy and to have flotation plants at the other two mines. Without wishing to get drawn too far into the technicalities, high-pressure oxidation of refractory gold ores and concentrates is performed in order to enhance their amenability to cyanide leaching. Oxidation conditions are critical to the chemistry within the autoclave and can significantly affect gold extraction. Important parameters in the oxidation of refractory gold ores under oxygen pressure are the fineness of grinding, the pressure, temperature, density and pH of the slurry in the autoclave, and the total retention time.
The Petropavlovsk plan is to develop the whole plant at Pokrovkiy in two stages. The first four vessels for processing concentrate from Malomir should be in place by the first quarter of 2013, and the two vessels for Pioneer concentrate by the third quarter of that year. Final capacity of the Pokrovskiy POX plant is estimated at 600,000 tonnes of concentrate per year and the capex will be US$181 million spread between now and 2015. The POX plants at Pioneer and Malomir are unlikely to boost operating costs from the current levels, which is great news as the market will generally have assumed that costs may have come in higher for this form of more complex processing. Examination of some other users of this processing technology shows that production can be done effectively at economic rates, says John Meyer.
Peter Hambro is very bullish about the POX programme saying: 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. As the birthplace of our business, Pokrovskiy was a natural choice for the proposed POX hub. We already have a large workforce employed there and established infrastructure, including haul roads, milling and smelting facilities and a plentiful power supply. Situated just 14 kilometres by road from the nearest station on the Trans-Siberian railway, we will be able efficiently to transport flotation concentrate to the site, not just from the Amur region but, looking ahead into the future, also from other regions in the Russian Far East.
A pretty ambitious plan, especially when followed by the claim that when built, the sheer scale of the hub means that it will be the largest operating in Russia. Russia is a pretty big country, but Peter Hambro has always been one of the foremost promoters in the gold industry there. He does things his way and this time he has effectively set new targets over the next four years. Some old stagers will remember when he was talking back in 2006/7 about production of one million ounces by 2010. He now argues that he has built a sturdier company with plenty of future potential.
Not bad timing in a world where gold seems to be one of the only currencies that can be trusted
July 14, 2011
Petropavlovsk Announces Ambitious Plans For Pressure Oxidation Plants In Russia, Just As Gold Breaks Into A Canter.
By Charles Wyatt
Some mining companies find that it takes time to recoup a reputation for efficiency when they miss production targets on one or more occasions in a row: others find that investors can be very forgiving.
PETROPAVLOVSK is just such a one, as last year the company produced 508,600 ounces, which was just shy of the production target of between 510,000 and 530,000 ounces. Not much of a miss, I hear you say, but a miss is as good as a mile when pessimists compare it with the top-end target. Anyway Peter Hambro took it on the chin and forecast 600,000 ounces for this year, a forecast has always looked entirely realistic given that no account was previously taken of the Albyn mine, due to commence production in the fourth quarter, nor of the Malomir mine, where the plant expansion will come on stream in the second half of this year. And, now that the company has confirmed that it is on track to beat this target, the share price has pulled sharply out of the long downtrend which started back in February.
In fact Peter Hambro is so determined not to fluff a forecast again that the target actually looks pretty easy, especially as mine planning has been revised to cut out some of the likely peaks and troughs of stripping works and mining. Some of the high grade areas will now be left until 2012 to make sure the company always has something in hand to meet unexpected difficulties.
According to John Meyer of broker Fairfax, gold production from April and May from the companys three key mines, Pokrovskiy, Pioneer and Malomir, rose to 83,500 ounces. That took production for the first five months to 158,900 ounces which is ahead of forecast and 33 per cent up on the same period in 2010. The annualised rate is 501,000 ounces on current production but improving weather conditions, says John Meyer, should enable gold production to rise significantly through the summer and second half till winter sets in. In addition, alluvial and heap leach operations will also boost production during the summer.
The most significant bit of news to be found in the recent production update is that feasibility study work on pressure oxidation plants for treating refractory ores, which go by the somewhat dubious acronym of POX, has now been completed. These plants will now be added, where appropriate, to the mining operations. The basic plan is to have the POX plant itself as the hub at Pokrovskiy and to have flotation plants at the other two mines. Without wishing to get drawn too far into the technicalities, high-pressure oxidation of refractory gold ores and concentrates is performed in order to enhance their amenability to cyanide leaching. Oxidation conditions are critical to the chemistry within the autoclave and can significantly affect gold extraction. Important parameters in the oxidation of refractory gold ores under oxygen pressure are the fineness of grinding, the pressure, temperature, density and pH of the slurry in the autoclave, and the total retention time.
The Petropavlovsk plan is to develop the whole plant at Pokrovkiy in two stages. The first four vessels for processing concentrate from Malomir should be in place by the first quarter of 2013, and the two vessels for Pioneer concentrate by the third quarter of that year. Final capacity of the Pokrovskiy POX plant is estimated at 600,000 tonnes of concentrate per year and the capex will be US$181 million spread between now and 2015. The POX plants at Pioneer and Malomir are unlikely to boost operating costs from the current levels, which is great news as the market will generally have assumed that costs may have come in higher for this form of more complex processing. Examination of some other users of this processing technology shows that production can be done effectively at economic rates, says John Meyer.
Peter Hambro is very bullish about the POX programme saying: 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. As the birthplace of our business, Pokrovskiy was a natural choice for the proposed POX hub. We already have a large workforce employed there and established infrastructure, including haul roads, milling and smelting facilities and a plentiful power supply. Situated just 14 kilometres by road from the nearest station on the Trans-Siberian railway, we will be able efficiently to transport flotation concentrate to the site, not just from the Amur region but, looking ahead into the future, also from other regions in the Russian Far East.
A pretty ambitious plan, especially when followed by the claim that when built, the sheer scale of the hub means that it will be the largest operating in Russia. Russia is a pretty big country, but Peter Hambro has always been one of the foremost promoters in the gold industry there. He does things his way and this time he has effectively set new targets over the next four years. Some old stagers will remember when he was talking back in 2006/7 about production of one million ounces by 2010. He now argues that he has built a sturdier company with plenty of future potential.
Not bad timing in a world where gold seems to be one of the only currencies that can be trusted
goldfinger
- 18 Jul 2011 12:53
- 1168 of 2076
POG tipped in this article........
http://www.fool.co.uk/news/investing/2011/04/08/why-im-keeping-hold-of-gold.aspx
goldfinger
- 18 Jul 2011 15:05
- 1169 of 2076
London Mining among JP Morgans favoured small and mid-cap miners -
2:28 pm London Mining
http://t.co/J3zrkJw
is among JP Morgan's favoured group of small to mid-cap miners
London Mining (LON:LOND) and Petropavlovsk (LON:POG) have emerged as JP Morgans top picks following a fresh review of the UK small and mid-cap miners covered by its analysts. The broker believes that with commodity prices set to remain strong, this end of the sector offers interesting upside potential for investors.
The review by JP Morgans mining team is based not only on stock specific newsflow but also the brokers latest commodity and foreign exchange assumptions.
While commodity prices are not rising at previous rates, the brokers analysis indicates the UK small and mid-cap mining sector in general boasts stocks that are delivering strong production growth rates. In certain cases they are also potential direct beneficiaries of the substantial cashflow being generated at the senior end of the industry as they become eyed up as possible bid targets.
The broker reckons there is an especially strong case for optimism over iron ore and precious metals plays.
London Mining looks particularly well placed to benefit from JP Morgans forecast strength in iron ore markets over the near to medium term. At the moment, the company is working towards a September start-up for its flagship project, the Marampa iron ore mine in Sierra Leone.
Only late last month the company assured investors that Marampa remains on track for first shipments in the fourth quarter of this year thanks to a recently-agreed shipping deal.
For JP Morgan, Marampa offers near-term growth at low capital intensity and competitive operating costs.
Marampa was once a major iron ore producing operation in Sierra Leone. It operated for 42 years from 1933 until low iron ore prices forced its closure. Continuing weak markets and civil war in Sierra Leone prevented redevelopment of the mine until London Mining obtained a licence over the property in 2006.
From an historic tailings resource plus a primary iron ore target of 85 million tonnes at 37% iron just over a year ago, Marampa, has certainly grown in London Minings hands: current resources, as of January 2011, stand at 37 million tonnes of tailings running at 22% iron, and 906 million tonnes of primary ore grading 32% iron.
London Mining development plan for Marampa envisages the production of 3.6 million tons per annum of sinter concentrates from a blend of tailings from previous operations and soft, highly-weathered ore in its first phase.
The second phase expansion is aimed at producing 16 million tons per annum of concentrate from the remainder of the Marampa ore body over a 25-year mine life.
JP Morgans latest upbeat view on prospects for London Mining follows on from its very positive initiating note on the company back in May. Even then the broker was advising investors to begin building positions on the stock immediately adding that 2011 could prove to be a transformational year for the company.
The broker noted at the time that there were two potentially important catalysts for its share price going forward: initial production from Marampa, marking London Minings transition from developer to producer; and secondly, any deal to secure funding for Marampa Phase 2.
It currently rates London Mining at overweight with a price target of 520 pence.
Meanwhile among precious metals groups, the unloved gold miner Petropavlovs finally appears to be on the right track, says JP Morgan.
Petropavlovsk (formerly Peter Hambro Mining) is focused on Russia and has a number of production and exploration assets across Russia, with its principal operations located in the Amur Region, in the Russian Far East.
Investor sentiment over Petropavlovsk has been heavily undermined because of its persistently missed guidance over 2010.
On 22 June 2011 the company assured in an update
2:28 pm London Mining
http://t.co/J3zrkJw
is among JP Morgan's favoured group of small to mid-cap miners
London Mining (LON:LOND) and Petropavlovsk (LON:POG) have emerged as JP Morgans top picks following a fresh review of the UK small and mid-cap miners covered by its analysts. The broker believes that with commodity prices set to remain strong, this end of the sector offers interesting upside potential for investors.
The review by JP Morgans mining team is based not only on stock specific newsflow but also the brokers latest commodity and foreign exchange assumptions.
While commodity prices are not rising at previous rates, the brokers analysis indicates the UK small and mid-cap mining sector in general boasts stocks that are delivering strong production growth rates. In certain cases they are also potential direct beneficiaries of the substantial cashflow being generated at the senior end of the industry as they become eyed up as possible bid targets.
The broker reckons there is an especially strong case for optimism over iron ore and precious metals plays.
London Mining looks particularly well placed to benefit from JP Morgans forecast strength in iron ore markets over the near to medium term. At the moment, the company is working towards a September start-up for its flagship project, the Marampa iron ore mine in Sierra Leone.
Only late last month the company assured investors that Marampa remains on track for first shipments in the fourth quarter of this year thanks to a recently-agreed shipping deal.
For JP Morgan, Marampa offers near-term growth at low capital intensity and competitive operating costs.
Marampa was once a major iron ore producing operation in Sierra Leone. It operated for 42 years from 1933 until low iron ore prices forced its closure. Continuing weak markets and civil war in Sierra Leone prevented redevelopment of the mine until London Mining obtained a licence over the property in 2006.
From an historic tailings resource plus a primary iron ore target of 85 million tonnes at 37% iron just over a year ago, Marampa, has certainly grown in London Minings hands: current resources, as of January 2011, stand at 37 million tonnes of tailings running at 22% iron, and 906 million tonnes of primary ore grading 32% iron.
London Mining development plan for Marampa envisages the production of 3.6 million tons per annum of sinter concentrates from a blend of tailings from previous operations and soft, highly-weathered ore in its first phase.
The second phase expansion is aimed at producing 16 million tons per annum of concentrate from the remainder of the Marampa ore body over a 25-year mine life.
JP Morgans latest upbeat view on prospects for London Mining follows on from its very positive initiating note on the company back in May. Even then the broker was advising investors to begin building positions on the stock immediately adding that 2011 could prove to be a transformational year for the company.
The broker noted at the time that there were two potentially important catalysts for its share price going forward: initial production from Marampa, marking London Minings transition from developer to producer; and secondly, any deal to secure funding for Marampa Phase 2.
It currently rates London Mining at overweight with a price target of 520 pence.
Meanwhile among precious metals groups, the unloved gold miner Petropavlovs finally appears to be on the right track, says JP Morgan.
Petropavlovsk (formerly Peter Hambro Mining) is focused on Russia and has a number of production and exploration assets across Russia, with its principal operations located in the Amur Region, in the Russian Far East.
Investor sentiment over Petropavlovsk has been heavily undermined because of its persistently missed guidance over 2010.
On 22 June 2011 the company assured in an update
goldfinger
- 18 Jul 2011 16:06
- 1170 of 2076
EPS forecasts from Digital Look, anyone think these look very good but will actually be better due to price of gold rising.
Petropavlovsk ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-11 609.35 221.22 87.45p 9.3 0.0 +464% 9.15p 1.1%
464% rise in EPS to results in December and thats without the new high in Gold SP being taken into account.
Petropavlovsk ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS Grth. Div Yield
31-Dec-11 609.35 221.22 87.45p 9.3 0.0 +464% 9.15p 1.1%
464% rise in EPS to results in December and thats without the new high in Gold SP being taken into account.
Iankn73
- 18 Jul 2011 23:19
- 1171 of 2076
Goldfinger - Can you enlighted a mere novice as to why over the last two trading sessions namely Friday and today (Monday) that after the Gold spot price reached a record level on Friday then reaching a new record today. The POG price finished down at the end of both trading days!! And yet when I look at both:
African Barrick Gold (LSE: ABG)
Randgold (LSE: RRS)
They have both risen at end of trading and yet POG goes in the opposite direction?
The US and Euro economies are in a mess. Everyone is backing Gold and POG is sitting at just over 8.00 even after their bullish market update on the 21st June.
Surely if the price of Gold is increasing then this should have a direct correlation with GOLD mining stocks? Or am I looking at it too simplistically?
African Barrick Gold (LSE: ABG)
Randgold (LSE: RRS)
They have both risen at end of trading and yet POG goes in the opposite direction?
The US and Euro economies are in a mess. Everyone is backing Gold and POG is sitting at just over 8.00 even after their bullish market update on the 21st June.
Surely if the price of Gold is increasing then this should have a direct correlation with GOLD mining stocks? Or am I looking at it too simplistically?
goldfinger
- 19 Jul 2011 01:37
- 1172 of 2076
Post 1144 will explain your query Ian. cheers GF.
goldfinger
- 19 Jul 2011 01:41
- 1173 of 2076
Trading update thursday the 21st aswel. Looked like MMS collecting stock for the books today of POG. One can only guess that they are looking towards a favorouable update come thursday.
goldfinger
- 19 Jul 2011 08:51
- 1174 of 2076
Going lioke the clappers this morning. Was subdued yesterday amid some strange MM dealing.
cynic
- 19 Jul 2011 09:03
- 1175 of 2076
sp certainly been performing well in horrid markets, but by golly the management needs to start producing some rabbits after its dismal forecasting record over the last couple of years
goldfinger
- 19 Jul 2011 09:50
- 1176 of 2076
Trading statement thursday cyners, followed by another 25th of August. Should lift the SP if all goes to plan.
cynic
- 19 Jul 2011 09:53
- 1177 of 2076
and THAT has always been the problem!
how r u keeping young sticky?
how r u keeping young sticky?
Iankn73
- 19 Jul 2011 16:57
- 1178 of 2076
Thanks GF - I had read that particular post and have just re-read it.
Better finish to the day :-)
Better finish to the day :-)
goldfinger
- 21 Jul 2011 07:51
- 1179 of 2076
Excelent half year results.
http://moneyam.uk-wire.com/cgi-bin/articles/201107210700147770K.html
And we have another update to come in late August.
http://moneyam.uk-wire.com/cgi-bin/articles/201107210700147770K.html
And we have another update to come in late August.
required field - 21 Jul 2011 08:15 - 1180 of 2076
Yep, with a jorc update still to come.....
cynic
- 21 Jul 2011 08:22
- 1181 of 2076
first time in living memory that POG have actually delivered per forecast
required field - 21 Jul 2011 08:35 - 1182 of 2076
Well,...it's a very good update and gold seems to be still in a rising trend...and the graph looks favourable for further rises in the sp...
goldfinger
- 21 Jul 2011 08:36
- 1183 of 2076
Thursday, Jul 21 2011 by Fox Davies Capital
http://www.stockopedia.co.uk/content/fox-davies-capital-update-featuring-melrose-horizonte-minerals-minera-irl-petropavlovsk-ascent-resources-dragon-oil-58399/
Petropavlovsk (LON:POG) plc (POG, 822p, ▼ 0.96%) issued its trading update for the period from 1 January 2011 to 30 June 2011 Total attributable gold production for the first half of the year was 219,100oz, c.32% higher than during the same period in 2010 (166,300oz) and marginally ahead of the Group's estimate for the first six months of 2011. Production in the second half of the year is expected to be higher than in the first half, due to a greater contribution from the Group's seasonal heap-leach and alluvial operations. Total material moved at Pioneer during H1 2011, was c.84% higher than during the comparative period in 2010 (14,177,000m^3 vs. 7,707,000m^3). The Group reiterates its announced production target of 600,000oz for the year. Operating costs were in line with the Group's estimates, which have been under pressure from industry wide inflation and the appreciation of the Rouble against the US$, the Group's functional reporting currency. Oil Services Corporate News
--------------------------------------------------------------------------------
http://www.stockopedia.co.uk/content/fox-davies-capital-update-featuring-melrose-horizonte-minerals-minera-irl-petropavlovsk-ascent-resources-dragon-oil-58399/
Petropavlovsk (LON:POG) plc (POG, 822p, ▼ 0.96%) issued its trading update for the period from 1 January 2011 to 30 June 2011 Total attributable gold production for the first half of the year was 219,100oz, c.32% higher than during the same period in 2010 (166,300oz) and marginally ahead of the Group's estimate for the first six months of 2011. Production in the second half of the year is expected to be higher than in the first half, due to a greater contribution from the Group's seasonal heap-leach and alluvial operations. Total material moved at Pioneer during H1 2011, was c.84% higher than during the comparative period in 2010 (14,177,000m^3 vs. 7,707,000m^3). The Group reiterates its announced production target of 600,000oz for the year. Operating costs were in line with the Group's estimates, which have been under pressure from industry wide inflation and the appreciation of the Rouble against the US$, the Group's functional reporting currency. Oil Services Corporate News
--------------------------------------------------------------------------------
goldfinger
- 21 Jul 2011 08:37
- 1184 of 2076
required field - 21 Jul 2011 09:19 - 1185 of 2076
Sp climbing...900p a possibility .....in the short term......might be a pullback beforehand though as rest of the market not doing so well....other gold stocks down, and POG has risen quite a bit, so...: a dip before a rise....difficult to guess...
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