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

cheers GF.

Summary from DJ:

"Petropavlovsk 2011 Net Profit $240.5M, Up From $23M In 2010
MOSCOW (Dow Jones)--Petropavlovsk PLC (POG.LN), which produces gold in Russia's Eastern region, said Wednesday its 2011 full-year net profit increased tenfold on higher production and higher sale prices, and despite some growth in the cash costs.

MAIN FACTS:

-Net profit at $240.5 million, compared with $23.0 million in 2010.

-Revenue at $1.26 billion, more than doubled from $612.0 million in 2010.

-Earnings before interest, tax, depreciation and amortization, or Ebitda, at $597.1 million, increasing three-fold on-year from $195.5 million.

-Petropavlovsk 2011 gold production is 630,000 Troy ounces from 570,000 oz in 2010.

-Petropavlovsk 2011 average gold price is $1,617/Oz from $1,253/oz in 2010.

-Petropavlovsk 2012 gold production estimated at 680,000 oz, does not fully provide for the expansions of the Pioneer and Albyn mines scheduled for 2H 2012.

-Petropavlovsk may review its 2013 -2016 gold production outlook upwards.

-By Alexander Kolyandr, Dow Jones Newswires"

Wow shooting up.

Petropavlovsk likely to up 2012 gold target - chairman
28 Mar 2012 - 08:12

MOSCOW, March 28 (Reuters) - Russia focused gold miner Petropavlovsk is likely to increase its 2012 gold production target during the course of the year as more production capacity comes into operation, chairman Peter Hambro told Reuters.

"That is a reasonable assumption," he said, when asked whether the target of 680,000 ounces in 2012 would be increased some time before the year end.

Petropavlovsk, which operates mines in Russia's far east, made the 680,000 oz forecast in January and reiterated it on Wednesday. The result would represent an 8 percent increase in 2011 output.


(Reporting By John Bowker; editing by Megan Davies)

((john.bowker@thomsonreuters.com)(+7 916 705 6111))

Keywords: PETROPAVLOVSK/

Petropavlovsk doubles revenue in 2011
By Benjamin Chiou

Wed 28 Mar 2012

POG - Petropavlovsk

Latest Prices
Name Price %
Petropavlovsk 648.00p +4.52%

LONDON (SHARECAST) - FTSE 250 Russia-focused gold miner Petropavlovsk managed to double revenue in 12 months ended December 31st, helped by soaring metals prices and a ramp-up in production.

Revenue jumped 106% from $612m to $1,262.5m, beating consensus estimates of around $1,228m. This was a result of a 52% increase in gold sold, a 29% rise in the average realised gold sale price (to $1,617/oz) and a 374% jump in revenue from Hong Kong-based iron ore producer IRC in which Petropavlovsk has a 65.6% stake.

"This is the first annual report in which we can measure our financial success in billions of dollars…In order to achieve this we moved record volumes of material, processed record amounts of ore and sold record amounts of gold at record prices," said Chairman Peter Hambro.

Underlying earnings before interest, tax, depreciation and amortisation surged 205% from $195.5m to $597.1m. Pre-tax profit jumped from $69.2m to $361.3m, beating the $381m estimate.

"Tight cost control and high gold price during the year have yielded record operating cash flows which, together with our substantial borrowing powers, allow us to complete our expansion programme," Hambro said.

While the final dividend per share (DPS) was left at 7p, an increase in the DPS at the interim stage meant that the final payout totalled 12p, up from 10p in 2010.

Meanwhile, net debt surged from $171.1m to $787.3m during the period reflecting an increase in capital expenditure.


BULLISH OUTLOOK FOR GOLD PRODUCTION


Gold production increased by 24% year-on-year from 507koz to 630koz and this is expected to rise a further 8% to 680koz in 2012, a forecast that the group admits is "conservative". The company said that the target does not account for expansions of the Pioneer and Albyn scheduled for the second half.

The firm also remained bullish for future production growth beyond 2012, saying that it expects to change previous estimates for output between 2013 and 2016 due to a substantial increase in capacities.

Shares jumped 4.52% to 648p in early trading on Wednesday.

BC

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19986930

ubs and credit suisse cut pog rating - oh goodee!

That will be 6 quid.

Has gone sub 550p in the last year which is a bit of a grind. Another stock I am going to have to sit on and wait for a comeback! :o(

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29.March: JP Morgan reiterates: Overweight - Lowers TP to 820p from 1040p.

UBS downgrade: Neutral from Buy. TP lowered to 650p from 1070p.

That's one hell of a change of stance from UBS!

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12 month low is 538.

classic example of "sell on the news"

Not far from the bottom now. Tempted to add once it goes sub 550p.

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I'm not totally convinced, but it is difficult to guage historically where the bottom is, because POG is an amalgamation of Peter Hambro mining & Aricom, so we can't compare like for like. I can't see any reason for the sp to drop to 2008 recession levels, so ideally the two year low is a reasonable guide.

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I wouldnt be surprised if POG were to plunge even further first thing tomorrow morning after the FOMC minutes in the US this evening making QE3 seem less likely.

I may be tempted to buy soon as these prices seem too good to resist.

It's a real bargain... 510p.