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

cheers GF.

D. E. Shaw & Co., L.P. & D. E. Shaw & Co. (London), LLP now have 12.1% of voting rights (combination of CFD & Convertible Bonds).
Seems they are happy to hold and increase........I assume with confidence of the industry eventually turning around?

Still bumping along the bottom. Considering the state of the market, it has probably fared better than I thought it would.

Production Report for Q3 2015
Q3 Highlights
· The Group successfully achieved its Q3 production levels as called for by the previously announced change in strategy designed to meet the Group's challenging debt repayment profile. This calls for the Group to concentrate on the mining and production of ounces with the highest possible profit margin, even at the expense of those ounces that are only marginally profitable
· Q3 gold production of 114,500oz (Q3 2014: 150,100oz), with total gold production for the first nine months of the year of 354,700oz (nine months 2014: 456,500oz)
· Sales for the first nine months of the year of 343,500oz (460,900oz during the same period in 2014)
· Q3 average realised gold price of US$1,153/oz (including a US$27/oz contribution from the hedging programme) and US$1,198/oz, (including a US$16/oz contribution from the hedging programme) for the first nine months of the year
· c.US$255m reduction in Net Debt as at 30 September 2015 to c.US$675m, compared with c.US$930m as at 31 December 2014
· Underground potential at Pioneer: budgeting discussions and dialogue with contractors to carry out detailed mine design and further underground exploration is underway
Operational Update
· Q3 works at the majority of the Group's mines in line with the Group's plan
· At the high-grade section of Andreevskaya (Pioneer), the presence of enriched zones with free gold particles and grades in the hundreds of grams per tonne required an adjustment to the plant's flow sheet to prevent losses of high-grade material to the tailings dam
· Data from blast-hole drilling confirmed that average grades in these areas exceed JORC model estimates
· To treat this high-grade material, a different set of technological parameters was adopted:
- Blending with large volumes of low-grade material
- Extending the leaching time at the plant up to 22 hours, compared to the usual period of 10-12 hours
· In October, the Pioneer plant achieved an increase in head grades from 1.1g/t to 2-3g/t. Due to the extended leach-time, there is currently an increased volume of gold in circuit
· The Group expects that c.150,000oz of gold (455,000 tonnes of ore) can be recovered from this high-grade area at Pioneer by the end of the year, although total production for the year will depend on processing speed and recovery
FY 2015 Outlook
· The Group reiterates its year-end Net Debt guidance of c.US$600m at a cash cost of c.US$600/oz
· All-in Sustaining Costs ("AISC") are expected to be c.15% above TCC/oz with All-in Costs ("AIC") only c.5% above AISC
· The Group is confidently following its repayment schedule and expects to stay within its financial covenants at the year-end results
· The Group reiterates its capex guidance for the year of c.US$35 million.

Commenting on operating results, Pavel Maslovskiy, Chief Executive Officer, said:
"I am pleased to report that the Company is progressing well with our target for 2015 to decrease Net Debt to c.US$600 million by the end of the year, focusing on the mining and production of ounces with the highest possible profit margin. This allows us to fulfil our deleveraging programme targets and to deliver on our highest priority - returning value to our shareholders.

Operationally, Q3 works were carried out in line with the Group's plan across all our mines with the exception of Pioneer, as explained in today's statement.

In order to ensure minimal losses during treatment of high-grade ore, a new set of technological parameters was developed and we expect that c.150,000oz of gold can be recovered from this high-grade area by the end of the year, although the total production for the year will depend on the speed of processing and recovery.

Work on the Group's underground development potential is ongoing. At Pioneer, drilling work has confirmed extensions suitable for underground mining at Andreevskaya, NE Bakhmut and Quartzitovoye (Malomir). The main ore body at Pokrovka I is also being evaluated. Mineralisation is open at depth in most instances. Discussions with contractors regarding budgeting, detailed mine design and further underground exploration is currently underway.

The Group is confident in meeting its repayment schedule and expects to stay within its financial covenants at the year-end."

On the move again.

FT:
"A RUSSIAN billionaire has quietly built a large minority stake in Petropavlovsk, fanning speculation that he could launch a bid for the gold miner chaired by City veteran Peter Hambro.

Viktor Vekselberg, whose net worth is estimated at $12bn, controls a vast empire through his holding company Renova. In recent weeks it has used three subsidiary companies — Lamesa Group, Lamesa Foundation and Polo Company— to amass a 20% stake in Petropavlovsk, owner of one of Russia's largest gold mines.

Renova did not return calls.

Petropavlovsk — founded 21 years ago and originally called Peter Hambro Mining — declined to comment.

The move by Vekselberg, 58, owner of a 250ft super-yacht called Tango, is the latest development in a harrowing year for Petropavlovsk.

The miner nearly went bust when it was unable to meet repayments on more than $900m of debts. It had spent heavily to develop a large deposit in eastern Russia amid a crash in the price of the precious metal. From a peak of nearly $1,900 an ounce in 2011, it has dropped to about $1,076.

Petropavlovsk was saved by a deeply discounted £155m rights issue in February that wiped out shareholders who chose not to throw more money at the company. The deal included a new $100m (£65.7m) bond convertible to stock."

Declared short interest has now dwindled to less than 1%, from a high of 8%.

Many are buying.
Gold at 1200, and expense at 850, they should have made enough cash to reduce debt further.

One to watch....as they might be able reduce debt levels...

Gold is rising above 1220.

Is anyone else optimistic about this?
Big volumes and steady rise recently.

it's an interesting high risk/reward play
if the markets are to continue south, then gold is likely to rise, and even spivvy stocks such as POG should benefit ..... i think it's a low cost producer actually, which will certainly help

The 7p level seems a constant struggle to break through. Also POG is heavily laden with debt, which seems to put off some investors. Am a holder so hoping you are correct.

Once again barely made it past the 7p level.

Very strange movement.
Gold continues upward trend, but POG is falling

Surely POG is controlled by momentum trading at the moment? Fundamentals seem to be ignored.

A bit of volume, finally

Will it stay over 7p this time?
2517

Anyway, I need 15p to break even on this bunch. And 50p to recover all my losses on this shit.

Blimey.....high of 7.66p....missed it!
Now where to?