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

cheers GF.

The herd have now arrived and are pushing it up.....and I reckon the market agree that this should be a good recovery stock this next year..or a takeover ?..

I don't think that you can have a takeover with complicated financial arrangements...so it must be that a rebound has started and the icing on the cake is the 5p share offering....

But what will happen to the sp once all those new shares hit the market?

Not before february at the earliest....who knows ?....depends on a lot of factors...nothing goes in straight lines...what they might do is to consider raising the issue price....because of the last few days...(not sure if they can do that with the bondholders though)...

The greater the mkt cap of the co at the time of the RI the smaller the effect it will have on the sp at that time.
2517

Up we go again. Currently 15.5p.

So far so good....good ongoing recovery...spot price helping...

Petropavlovsk PLC is proposing a Rights Issue on the following basis:

157 Nil Paid Rights for every 10 Petropavlovsk Ordinary shares held on the Ex-entitlement Date of 27th February 2015.

Each Nil Paid Right entitles the holder to subscribe for 1 New Petropavlovsk Ordinary share at a price of 5 pence per New Ordinary share.

Not sure if this is of any use to anybody... but there's a free Excel Spreadsheet to help you calculate your RI costs etc. available to download from this link:

http://j.mp/POG-RI

Good luck to all holders: don't forget to vote in favour for the RI right away, if it fails to pass the shareholders meeting on 26th Feb. then POG will probably go into administration...

glad i'm not in, KAZ seems to be recovering quite well.,.

There's an article on the RI been published by the Mail on Sunday (hopefully the link will work):

http://www.thisismoney.co.uk/money/news/article-2944056/Small-investors-head-says-City-grandee-Peter-Hambro-shares-plummet.html

Worth a read if you hold shares...

GLA, Gaz.

P.S. I hold shares in a SIP and have already voted yes myself.

SAPINDA HOLDING B.V. > 3%

SAPINDA HOLDING B.V. now increased holding to 7.86%.

StockMarketWire.com
Petropavlovsk has welcomed Sapinda's interest in attempting to provide a refinancing solution, but noted it did not include a sufficiently detailed or funded proposal which can be put to Shareholders as a viable alternative to the refinancing plan announced by the Company on 2 February 2015 .

For more than a year, the Group has held detailed discussions with its Russian and Chinese lending banks, with the broad group of Existing Bondholders, and with several third parties.

In these, the objective of the Board has been to achieve a certain and secure refinancing while retaining the right for its existing Shareholders fully to participate in a solution that is supported by all the lenders.

Evaluation of the available possibilities included a proposal put forward by Sapinda in October 2014, which the Board at the time considered to be unworkable.

There was no detailed offer, no independently verifiable source of funding, no fully pre-emptive right for existing Shareholders and it did not gain the support of the Existing Bondholders.

The directors are acutely aware of the pressing time constraints and the need for a Shareholder vote to approve the Current Refinancing Plan. This is fully funded, thanks to the underwriting provided by the Bondholders and others, and it secures the immediate future of the company.

At the same time it retains value for existing Shareholders and has support from all Senior Lenders including ICBC, from over 90% of Existing Bondholders and from all Shareholders whose proxy or instruction forms have to date been received by the Company.

Should sufficient shareholders vote against the resolutions so that they are not passed, there is a very high risk that the Company would be forced into an insolvency process, such as administration or liquidation, and that shareholders would lose their entire investment in the Company.

As such, to ensure the continuation of the Group's operations in case the resolutions are not passed, the Group, as an important part of its contingency planning, is progressing an alternative implementation route with its Senior Lenders including ICBC, and

Existing Bondholders where shareholder support would not be required and all the shareholders may lose their entire investment in the Company. If the shareholders approve the Current Refinancing Plan the contingency planning will no longer be necessary.

The Board accordingly urges all shareholders to vote (or procure voting in respect of their shares not registered in their own name) in favour of the resolutions to approve the Current Refinancing Plan as soon as possible.

Comment

Board Response to Further Sapinda Announcement
Following its announcement yesterday in response to the statement made by Sapinda Holdings B.V. ("Sapinda") on 17 February, the Board of Petropavlovsk notes the further announcement made yesterday by Sapinda and confirms the receipt of a letter as outlined in yesterday's announcement.

The Company is of the view that the proposal has similar flaws to that put forward by Sapinda last year, and does not take into account some of the important contractual and regulatory provisions to which the Group is subject. In addition, neither the announcement made yesterday by Sapinda, nor the letter received by the Company, provides sufficient detail to allow the Company fully to evaluate the deliverability of the proposal or the time to act upon it. Furthermore Sapinda's proposal assumes agreement with Bondholders on a transaction that is significantly different to that achieved so far.

Accordingly, the Company re-iterates that should sufficient shareholders vote against the resolutions so that they are not passed, due to the time restraints there is a very high risk that the Company would be forced into an insolvency process, such as administration or liquidation, and that shareholders would lose their entire investment in the Company.

The Board therefore urges all shareholders to vote (or procure voting in respect of their shares not registered in their own name) in favour of the resolutions to approve the Current Refinancing Plan as soon as possible.

Hambro warns

i've cut my losses as on consideration i think there's plenty more blood to be seen

Here are the facts so far as far as I can see:

1. Petropavlosk is in the midst of a critical Rights Issue to secure the Company's immediate future.

2. A third-party Private Equity Fund called 'Sapinda' has chosen this precise moment to attack the Company.

3. Sapinda's motives remain unclear - they say they can offer an alternative solution but yet fail to provide adequate details of it; and do not state who supports them (and furthermore it is crystal clear from POG that the Bondholders already rejected their offer)

4. Their offer is simply too late to be actioned anyway; so even if they said what they were offering (which they don't) it cannot be implemented before the Company default on their Bonds

5. Therefore, should they succeed; it will likely prove disastrous for both the Company and Shareholders.

The Company has issued two RNS announcements on them (both of which have been kindly posted by HARRYCAT above).

More info on the man behind Sapinda - Lars Windhorst - can be found in this article from the Telegraph:

http://www.telegraph.co.uk/news/politics/conservative/7784393/Conservative-Party-took-10000-from-Convicted-Criminal-Lars-Windhorst.html

If we trust Sapinda over the Company and either fail to vote or vote no; then the RI will fail and all shareholders will loose everything.

Everybody; PLEASE DO YOUR OWN RESEARCH. Sapinda is a very real threat. People must vote 'Yes' before it is too late.

In the interests of full disclosure; I hold shares in POG (I'm a long term shareholder) and I have already voted 'Yes'. I am deeply suspicious of Sapinda, their timing and the lack of adequate details. The board's two RNS replies to their press articles make it clear that they don't have a viable alternative anyway.

So, thanks to Sapinda, it now seems it's all the more urgent to vote 'yes'... stressful times indeed.

GLA.