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

cheers GF.

It's the debt I don't like at POG. Been increasing my physical gold ETF's though.

POG has disappointed for far too long and the market has lost patience ...... there is just about an argument to buy at this level (about 72p), but it is scarcely compelling

StockMarketWire.com
Bank of America Merrill Lynch has cut its recommendation on gold producer Petropavlovsk (LON:POG) to "neutral" (from "buy") after downgrading its gold price assumptions, which leads the broker to believe that the company is at risk of breaching its covenants next year. Analysts have slashed their price objective to 95 pence a share from 280 pence. Interestingly, Liberum Capital also revised its precious metal price assumptions, earlier this week, and downgraded POG to "hold" from "buy" until a solution is found to bridge its funding gap and, similar to BoAML, believes the company is at risk of breaching its covenants in the first half of 2015.

For me the catalyst will be refinancing, only this can change the sentiment.

POGS MACD has just turned positive on the daily chart, and maybe the fixing of the US debt ceiling limit will create a bit of short term upside for POG/Gold as Uncle Sam is at risk of default without this matter being resolved and it has until the 17th of October to do so. Also the Chinese return to the markets next week following the Autumn holiday there.

sp sub 70p

Not looking good for POG with gold falling again, and the billion debt pile doesn't help its cause at present. results out soon too.

Interim Management Statement and Production Update

Highlights

n 204,400oz of gold produced in the period from 1 July 2013 to 30 September 2013 ("Q3 2013") and unit costs within 2013 guidance, despite severe rains and widespread flooding in the Amur region
n Total gold production and sales for the first nine months of the year amounted to 499,100oz and 512,900oz respectively, slightly higher than the corresponding period in 2012
n Exceptional efforts by Petropavlovsk staff and management at all sites limited the effect of flooding on estimated annual production to a reduction of less than 3%
n Average realised gold price of US$1,495/oz during Q3 2013, including US$157/oz benefit due to the successful hedging programme set in place earlier in the year
n Further promising exploration results expected to prolong the life of non-refractory processing facilities at the majority of the Group's mines
n Further development of the POX hub with the lining of the autoclaves on track to be finished by February 2014 at a reduced cost
n Strong performance at IRC Limited ("IRC"), the Group's industrial commodities subsidiary; on course to meet increased production guidance
n Net debt as at 4 October 2013 was US$1.08 billion, a decrease of US$70 million compared to net debt as at 30 June 2013 (US$1.15 billion). This was due to lower than budgeted unit cash costs (on per tonne and per m3 basis) and the previously-announced cost cutting programme; on course to reduce net debt to US$1 billion by year end

Canaccord Genuity Buy 71.75 72.75 190.00 190.00 Reiterates

Numis Buy 71.75 72.75 150.00 - Under Review

Westhouse Securities Buy 71.75 72.75 130.00 130.00 Retains

skin do you get the impression these brokers think the price of gold is going to rise, perhaps they are looking forward to Christmas!

i think they've got a load of stock on their books that they'ld like to pass on to some mug punters

Hey! I'm thinking of increasing my holding. He who dares and all that, perhaps I should change my name to Trigger. ha!ha!
2517

i (almost) agree that this one has fallen far enough, but the company has disappointed the market far too often and it is slow to forgive

if i was buying into mining, i'ld be much more inclined to buy into an ore or even nickel producer as they will reap great benefits as world economies pick up speed

RBC Capital Markets Underperform 80.13 105.00 85.00 Retains

JP Morgan Cazenove Underweight 80.13 70.00 80.00 Reiterates

Westhouse Securities Buy 80.13 130.00 120.00 Retains

General Meeting in relation to the proposed sale of non-strategic alluvial assets for a cash consideration of US$25 million

Petropavlovsk PLC ("Petropavlovsk" or the "Company") is pleased to announce that, further to the announcements on 28 October 2013 and 17 September 2013 in relation to the proposed sale of the Group's entire interest of 76.62% of the issued shares in OJSC "Ore-mining Company" Berelekh, the ordinary resolution put to shareholders at today's General Meeting was duly passed on a show of hands.
Full details of the proxy votes received from shareholders prior to the meeting for the resolution are set out below and will also be made available on the Company's website www.petropavlovsk.net

Suspension of Trading in the Shares of IRC Limited

Petropavlovsk PLC announces that IRC Limited, its 51.2% owned iron ore mining subsidiary, has today suspended trading of its shares on The Stock Exchange of Hong Kong Limited. This is due to a possible revision to the timetable of the previously announced investment in IRC Limited by General Nice Development Limited and Minmetals Cheerglory Limited, which was scheduled to be completed by 18 November 2013. The revision may also include a change to the order in the steps that will be taken towards completion of the transaction. IRC Limited and Petropavlovsk PLC will announce further details when they become available.

looks as though POG has f'ed up yet again .... no wonder the city is fed up with the company ..... glad I shall lose no more shirts here

You better give your shirt to skinners cynic could be a long cold winter for him here.,.

Vanguard Precious Metals and Mining Fund < 9%

Petropavlovsk PLC (the "Company" or, together with its subsidiaries, the "Group") is pleased to announce the results of a Board review of the Group's strategic operational and development plans until 2025. This review takes into consideration the current gold price and the results of the exploration programme carried out by the Group.



Highlights

■ Ongoing exploration programme results in an increase of 5.7 million ounces ("Moz") of non-refractory resources estimated in accordance with the Russian Classification System for the processing at the Pioneer, Albyn and Malomir facilities

■ The increase in resources is expected to support continuing only non-refractory production until 2019

■ An anticipated step-change improvement in operating costs from 2015 due to better grades and stripping ratios at the Pioneer, Albyn and Malomir mines

■ 2014 forecast production at 620,000oz-630,000oz

■ Net debt already below US$1.0 billion ahead of target debt reduction schedule

http://www.moneyam.com/action/news/showArticle?id=4726511