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

cheers GF.

Ugh! Down another 10% this morning. Thanks goodness it's friday and maybe the weekend will allow markets to settle.

I have never experienced such bad market conditions.....even worse than a couple of years ago......

Have you avoided a margin call, rf?

Only by closing 2 positions.....I'm not very proud of my spreads right now......just had to let 2 go....much prefer shares when at least you can wait for a rebound....still in this, hanging on......it will not be a good year unless some spectacular recovery gets underway....

explanation required! ..... POG is a pure gold producer ..... gold rises $100 in 2 days; shares slump (in line with rest of market) ..... bloody silly innit!!

It is certainly presenting a buying opportunity but when to do so is the gold nugget question!

cynic - I have given up trying to understand what the hell is going on with POG versus the current price of gold. Absolutely insane!!

POG is also an iron ore producer (in very large quantities) which may explain the anomaly.

I have some in an isa.....this just has to go up to 1000p sooner or later...might take until the new year but am keeping the faith.

Blue here as well.....stone the crows !....(what an awful expression that by the way)....

It appears that POG debt is due to double, hence the steady tumble in the sp:
Canaccord note:
"We reiterate our BUY recommendation after raising our interim profit estimate (six months to June 2011) from US$57 million to US$95 million, albeit the increase is almost entirely from non-gold contributions and one-offs like asset sales and exchange rate benefits from translation of value in assets and liabilities. We are also increasing our estimate of net debt from US$220 million to US$548 million due to working capital considerations. Our numbers continue to show that the company is well positioned to fund its expansion plans.
We estimate that Petropavlovsk will need to spend US$754 million in development capital over the five years from 2011 through 2015 (excluding exploration expenditure) in order to deliver the production growth that we are projecting. In addition, we are allowing for US$260 million in exploration to deliver ore reserves and maintain reserve life at the higher production rate, for a total commitment of US$1,014 million
However, we estimate net cash from operations over the same period at US$1,499 million, against a gold price declining to US$1,300/oz over the period, for a surplus of US$485 million over the five years. And at no time does Petropavlovsks cash balance go negative. The low point on our numbers will be in December 2011 at US$146 million, after the bulk of the expected capital spend estimated at US$421 million, which suggests a cash draw for the year of US$174 million. A foreign exchange gain of US$20 million. A US$20 million contribution to revenue from third-party consultancy by Irgiredemet which, on our numbers, helped account for a US$8.7 million EBIT contribution from Head Office. A US$12 million contribution from the sale of the Solovyevskiy alluvial gold deposit.An EBIT contribution of US$3.2 million from IRC, from an estimated US$54 million of sales. Without these non-gold contributions, we estimate that the after-tax profit from gold mining was US$68 million, an increase of US$11 million on our first response after the production numbers were released."

Up to the 200 DMA?.......Now that would be nice!

Interim results on thursday this week.

StockMarketWire.com
Petropavlovsk PLC has issued its Half-Year Report for the period from 1 January 2011 to 30 June showing group revenue for H1 2011 increased 143% to US$475.1 million, (H1 2010 US$195.7 million) and revenue from precious metals operations increased 118% to US$394.6 million, (H1 2010 US$181.3 million).

This increase was due to higher production volumes, an increase in gold sold and the higher gold price;

Gold sales increased 73% to 268,500oz, (H1 2010 155,300oz) and the average realised gold price rose 26% to US$1,455oz, (H1 2010 US$1,154/oz);

Underlying EBITDA increased 290% to US$186.2 million (H1 2010 US$47.7 million);

Operating profit (before exceptional items) of US$138.4 million was up from H1 2010 (US$10.7 million);

The Company paid a final dividend of 7 pence per share on 28 July 2011 to shareholders on the register as at close of business on 1 July 2011 and on 24 August 2011, the Board of Directors approved an interim dividend of 5 pence per share, which will be paid on 11 November 2011 to shareholders on the register as at close of business on 7 October 2011.

after a slowish start, good to see POG doing the biz at last

No correlation between the gold price and POG sp then?
900p here we come!

Harry hope you bailed out.

Yes, made a reasonable profit and sunk it into Aviva. Sadly that is sinking as well, though got the divi!

looks like the stock has fallen off a cliff again .
Is this Russian factor overplayed or what?