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

cheers GF.

Unfavourable RNS - not doing well.

about par for the course i'm afraid

Looks like full year production target will be missed next time - 700,000oz too high when H1 only produce 279,100oz. Not good.

Although it states that is unlikely and that full year production is on target (increase in production H2) I tend to agree, as POG are a serial diappointer! Good job the price of gold is so high, otherwise profitability would be dire.

POG is only worth about 300p - overpriced imo

Management too afraid to tell the truth or too unrealistic.

do you therefore hold a large bear position?

just in moderate amounts

in your opinion, are the markets in general heading for another slump?

Well do your own research

he was asking for your opinion, not your research!

exactly so ...... i know my own view and the reasons for holding it .....
hyleo is 99% negative 120% of the time, so i was trying to determine his view and then whether or not he had married money with mouth

So hold it then... I'm sure you got your views and I've mine.

what a douche

.

ah, so mr hyleo almost certainly does not match money with mouth, as i have always suspected

fwiw, though it should live on the ftse thread, we are seeing a very considerable upturn in chemical shipments ..... the implication is that demand is indeed recovering, though it will take a while for it to start filtering through

RBC summary note:
"Valuation
These are a very substandard set of results and they heighten our concerns about POG gearing and cashflow generation, especially over the longer term if gold prices pull back and mined grades decline to nearer the average Reserve grade.
We downgrade our recommendation from Sector Perform to Underperform and Reduce our target price from 630p to 440p based on unchanged multiples of 1.2 NAV and 7x CF, a discount to the Tier II peer group due to our concerns about high gearing and the technical complexity associated with developing the Pressure Oxidation hub. We retain our Speculative risk qualifier."

Now, now, children. We're all past the kindergarten
stage.
As for POG, quelle surprise!

Half-year figures from Russia-focused mining company Petropavlovsk (POG.L) showing a 90% decline in net profits disappointed investors today, wiping 10% of the share price.

The London-listed group, which has four gold mines in Russia, reported earnings per share (EPS) of just $0.08, compared with $0.57 for the first six months of 2011. ‘This headline disappointment should be viewed against the background that it was caused mainly by non-cash items such as a US$60.8 million increase in depreciation charges and foreign exchange translation losses of US$3.4 million,’ said Peter Hambro, Petropavlovsk chairman, in the company’s statement.

Analysts at Nomura described the results as ‘underwhelming’. They noted that capital expenditure had been higher than expected.

One of the group’s key projects has been its ‘pox’ plant, which has created investor uncertainty.

Gold producer Petropavlovsk's bottom line lost its lustre in the first half of the year as interest payments bit and the group took a bath on its gold option contracts.

Operating profit for the first half of the year fell 38% from $152.4m in the previous year to $93.8m, while profit before tax plunged to $48.8m from $134.4m the year before.

This was despite the firm posting record half-year revenues after increasing its gold sales by seven per cent and benefiting from a 13 per cent rise in the average realised gold price.

The volume of gold sold rose from 268,100 ounces (oz) to 286,100oz, while the average realised gold price per ounce increased from $1,455 to $1,639.

Revenue for the six months to the end of June came in at $546.8m against $475.1m the same period in 2011, a 15% year-on-year (y/y) increase.

There were no sales of silver in the half year period, compared to 115,840oz sold in the first half of 2011 at an average price of $35/oz. The aggregate 168,520oz of silver at refineries and pre-refinery stage as at June 30th are expected to be realised through sales in the second half of the year.

Total underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 10% from $186.2m last year to $204.1m.

Post-tax profit plummeted 90% from $108.2m to just $11.0m this time round, with the group recognising $9.4m of fair value losses on gold option contracts and an increase in net interest expense from $15.8m in 2011 to $34.6m in 2012, reflecting the group's higher net debt position.

More significantly, the group incurred a $60.8m increase in depreciation charges, which the firm said is projected to continue broadly at this level in the future.

Net debt increased from $805.1m to $1,056.1m over the period, a rise of 31%.