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

cheers GF.

yes indeed ..... good to see something blue today alongside PFC and TSCO (just!); even GKP was red for the first time in a while! ..... am marginally tempted to buy some more though i technically already have "full quota"

In TSCO myself. A lot of negative sentiment about but itl overcome it.

Fantastic results beat forecasts easily.

despite its recent sharp rise, even sp has not fallen away on the news as might have been expected

StockMarketWire.com
Petropavlovsk PLC's 65.6% owned subsidiary, IRC, announced its 2011 Annual Results today , showing a maiden profit.

Peter Hambro, Chairman of Petropavlovsk, commented:"I am delighted to be able to report IRC's maiden profit in this set of results.

"This is a great credit to the operational and management team. We have beaten our production targets for Kuranakh and construction at K&S is both fully funded and advancing well.

"This strong performance is further backed by an increase in Reserves and Resources, demonstrating the company's strong growth profile. IRC's position as a developer as well as producer in a unique geographical location makes us confident that the company will unlock value for our shareholders in the years to come."

FURTHER UPLIFT IN GOLD ORE RESERVES AND MINERAL RESOURCES
23 February 2012

Petropavlovsk PLC is pleased to announce a summary of its updated gold Ore Reserves and Mineral Resources estimated as at 01 January 2012 in accordance with the guidlines of Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geosciences and Minerals Council of Australia ("JORC Code (2004)"). This update was prepared by in-house experts in conjunction with Wardell Armstrong International ("WAI") as part of the Group's reporting procedure. The estimates were prepared following an extensive exploration programme, metallurgical tests and other technical work completed by the Group during 2011.

HIGHLIGHTS
· 11% increase (after the depletion of c.0.65Moz during 2011) in Proven and Probable Ore Reserves, from c.9.1Moz at an average grade of 1.17g/t Au to c.10.2Moz at an average grade of 1.13g/t Au;
· 6% increase in total Mineral Resources from c.23.1Moz to c.24.6Moz, of which:
- c.14.4Moz are Measured and Indicated Resources
- c.10.2Moz are Inferred Resources
· The increase in the Group’s Ore Reserves and Mineral Resources was achieved despite the depletion of c.0.65Moz of reserves from mining activities;
· Ore Reserves for the Group’s main producing assets were estimated using a gold price of US$1,000/oz, as per the previous estimate for 1 January 2011. Reserves for Albyn and Visokoe were estimated using a gold price of US$1,200/oz;
· The average gold grade remains in line with the previous year, despite the mining of high-grade material during 2011, due to the continued success of the exploration programmes at Pioneer and Albyn (located in the Amur region), Petropavlovskoye (located in Yamal) and Visokoe (located in the Krasnoyarsk region);
· An increase from c.3.6Moz to c.5.1Moz in the Group’s non-refractory Proven and Probable Ore Reserves, which are suitable for low-cost resin-in-pulp (“RIP”) and heap-leach recovery, allows for the acceleration of expansions in RIP production at Pioneer, Malomir and Albyn and brings the development of the Visokoe deposit in Krasnoyarsk closer to production;
· New additions to the Group’s JORC-compliant Ore Reserve estimates are attributable to successful exploration at Pioneer, Albyn, Malomir and Pokrovskiy (at the Pokrovka-2 and Zheltunak deposits);
· Exploration results from Pioneer, Malomir and Albyn have identified new zones of both non-refractory and refractory mineralisation, the results of which have so far only partly been reflected in the Group’s Resource estimate;
· Exploration at Elginskoye, a large, 325km2 area approximately 15km west of the Albyn processing plant, yielded positive results with initial intersections indicating the presence of a significant target comparable in size to the Albyn deposit.

Excelent update. Far outstrips what
tip sheet SCSW were looking for.....

http://www.an ADVFN competitor.com/action/news/showArticle?id=4314851

From over the road....

Still 1520p..........EVO today.

Charles Kernot, analyst at Evolution Securities, said: "We believe that the company has now demonstrated its operational capabilities to the market. We do not believe that its shares should be trading at such a heavy discount to those of its peers."

Kernot tags the stock with a 'buy' recommendation and a 1,520p price target.

Brokers very much onside with the results. Further updates to report.

Numis:

Petropavlovsk (Add, £8). Reserve update. Positive. Reserves increase by 11%
to 9.1Moz grading 1.17g/t (from 10.2Moz grading 1.13g/t. Total resources increase
by 6% to 24.6Moz, from 23.1Moz (14.4Moz M&I). Importantly it confirms an
increase to 5.1Moz in non-refractory resources, which shape the production profile
better in the next few years, as expected, with potential to increase further. The
increased reserves confirm the decision to bring forward the expansions at Pioneer
and Albyn and allow another year of non-refractory ore at Malomir in line with our
forecasts. Includes a maiden reserve 1.2Moz at Visokoe, which is likely to be a new
project, amenable to low-cost open pit mining with non-refractory ore. This is
expected to be finalised in 2012, which should provide uplift to our numbers when
released. Exploration activity appears to continue positively. Overall positive but no
change to our numbers at this stage. Stock currently trading at 2.2x NAV and 5x
2012 CF, vs. the peer group of 1.5x NAV and 9x CF.

From Citi:

POG has reported reserves up by 11% from 9.1m oz @ 1.17gt contained to 10.25m oz
@ 1.13gt despite the use of 0.65m oz of reserves in 2011. POG has split the reserves
into non-refractory (5.13m oz @ 1.23g/t) and refractory (5.12m oz at 1.05g/t). Mineral
resources increased by 6% from 23.1m oz to 24.6m oz.
Reserves at Pioneer are reported at 2.42m oz @ 1.12g/t (previously 2.6m @ 1.2g/t).
Reserves at Pokrovskiy are 0.82m oz @ 0.74g/t (0.8 @ 0.92g/t). Malomir registered
3.94m oz @ 1.06g/t (4.1 @ 1.09) and Albyn was 1.36m oz @ 1.94g/t (1.08 @ 2.01).
Other reserves were at the alluvial operations and exploration projects.
We consider this to be a good report card indicating that POG is consistently being
able to replace mined gold and still improve on the reserves. The 50/50 balance
between refractory and non-refractory illustrates that the future refractory challenges
will not be all-consuming. POG’s POX plant is likely to be able to deal adequately with
refractory ore but we await updates on capex guidance on the POX plant, which we
expect to be higher than earlier estimates.

they're certainly doing the biz this morning! .... nice surge through 200 dma makes a further dabble very much more appealing

POG.

On the chart below we are technically
looking at the increased volume and the
way the lower indicators have all turned
bullish which stands holders in good sted
for a run up in the SP in the next few days/
weeks.

Libertas
February 23, 2012 -
Today’s Top Story

http://bit.ly/wVhufg

Fairfax Market Report
February 23. at 11:03 am

http://bit.ly/xZSeu0

More QE !!!

http://www.cityam.com/latest-news/bank-economist-open-more-qe

Starting to warm up.

citi v conservative..

PETROPAVLOVSK (BUY, p/target 834p) - Resources and Reserves update looks in line. Increased reserves by 11% even after depletion of 650k oz through mining - roughly where we would have expected. Grade marginally down from 1.17g/t to 1.13g/t. No material change to consensus expected. Shares trade on 1.1x P/NPV.

What's happening to POG?

Following Gold price ie, down. Seems to have been some strange MM action in this stock of late though.