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

cheers GF.

Miners all doing well today. Hoping for 9p again.

11p is likely in near term

I was being a bit more cautious, but 11p would do me fine!

Goldman Sachs > 3%

It seems that they sold at 8.3 and bought back above 7.5p.

Update on Transactions
On 28 April 2016 Petropavlovsk PLC ("Petropavlovsk" or the "Company" and, together with its subsidiaries, the "Group") announced that it had entered into an agreement (the "Agreement") with Russia's Alliance Mining Group ("AMG") and Lexor Group S.A. ("Lexor" and, together with AMG, the "Contributors") to acquire Amur Zoloto LLC ("AZ"), an established gold company with production and development assets in the Khabarovsk region in the Far East of Russia (the "Proposed Acquisition").
Today the Company announces that, as part of its discussions with its major shareholders on the Proposed Acquisition, both it and the Contributors have agreed with the Group's largest shareholder, Renova, to discuss the possibility of amending the Proposed Acquisition to include the acquisition by Petropavlovsk of Renova's gold assets in Kamchatka, Far East of Russia ("Kamchatka Gold").
Kamchatka Gold was established in 2002 and has a substantial gold resource base in the Kamchatka Region in the Far East of Russia, an area of strategic interest to the Group. The company pursues a strategy which focuses on integrated mine development with implementation of geological exploration, construction of mining and processing facilities and creation of transport and energy infrastructure.
The Board believes that, whilst further analysis of these assets will be required, the addition of Kamchatka Gold may be an attractive opportunity for the Group, and accordingly Petropavlovsk, the Contributors and Renova have agreed to undertake further three-way talks to see whether amended terms for the Proposed Acquisition that will include the acquisition of Kamchatka Gold can be agreed between the three parties. If amended to include Kamchatka Gold, the Proposed Acquisition would be a related party transaction for Petropavlovsk under Listing Rule 11, because of Renova's shareholding in the Company.
The proposed joint venture with Limited Liability Company GMD Gold in relation to the Pressure Oxidation project, which was also announced on 28 April 2016, is unaffected by today's announcement. Its implementation remains subject to shareholder approval.
Commenting on the announcement, Peter Hambro, Chairman of Petropavlovsk said:
"We welcome the constructive engagement of Renova and look forward to establishing whether an attractive amended transaction involving our acquisition of both AZ and the Kamchatka Gold can be agreed and put to Petropavlovsk's independent shareholders for approval."
Alexey Moskov, the Chairman of the Executive Board of the Renova Group, added:
"We believe that, in the case of its implementation, the contemplated transaction will enable Petropavlovsk to advance its strategy to further grow its resource and production base, which we support as a substantial shareholder, and benefit all shareholders of the company."
Musa Bazhaev, the Chairman of Alliance Mining Group, commented:
"We welcome the opportunity to enter into three way discussions with Petropavlovsk and Renova. All parties recognise the considerable consolidation opportunities in the region and we look forward to continuing the constructive dialogue."

Just refuses to go any higher at mo! Very frustrating. I know if I sell it surely will!!!

Another good trading bounce. The dip below the 200 DMA worried me, so missed it this time.

Refinancing update


Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") today issues an update on its discussions with the Group's Russian lenders.

As announced on 28 September 2016 the Company has received major support from its Russian lenders, Sberbank (c.75% of total bank debt) and VTB (c.25% of total bank debt) to extend the maturity profile of the Group's facilities to 2022, subject to certain conditions, with a back-ended repayment schedule to match the Company's production schedule.

"As part of this process Sberbank has deferred the repayment installment of principal due under its facilities on 31 October 2016 to 20 December 2016. VTB has informed the Company that it is working towards execution of the necessary documentation, and satisfaction of all necessary Conditions Precedent on Monday, 31 October 2016.

"The Company expects to be in a position to confirm details of the refinancing shortly."

New highs today.

Depends on your timescale!

Worth buying imo.

Spangel comment today:
"It’s an interesting week for POG. First plunging temperatures combined with regional flooding caused fractures in pit benches at the main Andreevskaya pit restricting mining and blasting. The company’s other pits were dryer and no so affected by the sudden freeze.
It appears the sudden freezing of the groundwater caused the fracturing of rock compromising stability in the Andreevskaya pit.
This will impact gold production and may make compromise this quarter’s production target.
POGs also report the refinancing of $530m of bank debt. with Sberbank and VTB subject to final documentation.
“The approved terms include a revised maturity profile from May 2018 to September 2022 (inclusive of option to extend the 2019 maturity payment to 2022 upon certain conditions being satisfied) and effective average interest rate of c.8%.”
“The extended maturity profile of borrowings is now successfully aligned with the Company's production profile, expected cash generation and growth capital expenditure plans.”
The lenders have also agreed to support the development of the Pressure Oxidation Project.
Conclusion: We wonder if the pit stability problems at the Andreevskaya pit might have any impact on the terms and conditions of the refinancing.

Production Update
Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") outlines the results of the previously announced Impact Assessment at Pioneer's Andreevskaya deposit.

Due to adverse weather throughout the Amur region in November, the Company suspended operations in order to safely assess the impact at Andreevskaya East. This thorough assessment entailed detailed mapping, recording and monitoring of rock fractures, manual systematic tests of the pit wall rock competency, and when feasible, small test blasts.

From this work, the Impact Assessment concluded that until the active layer of the permafrost has set, thus binding the pit walls, blasting and mining at Andreevskaya East might increase the risk of rock falls. However, encouragingly, current temperatures and the speed of freezing have returned to the median level expected for this time of year. Accordingly, the Company expects the Andreevskaya East pit to return to full scale, high grade, non-refractory mining before year end.

In the short term, all dislodged material is being cleared from the pit and the benches are being rehabilitated. Any available mining fleet has been temporarily utilised at Pioneer's other operating pits.

The 2016 production is now expected to be between 415,000 and 430,000 gold ounces at a preliminary total cash cost of c.$700 per ounce. The reduction is largely due to the aforementioned mining disruptions experienced at Pioneer, the Company's largest mine. The range in guidance is attributable to the high grade nature of the Andreevskaya East deposit, averaging 30g/t.

The Company's mines at Albyn, Malomir and Pokrovskiy all show robust rock stability and open pit mining remains on schedule. Pioneer and Malomir underground projects continue to progress well, with first production on schedule for H2 2017. Development of the Pressure Oxidation Plant ("POX Hub") remains on schedule for commissioning by the end of 2018, with first refractory ore production by the beginning of 2019.

Furthermore, the Company will provide an update on the previously announced potential transactions by close of business tomorrow, 16th December 2016.

Commenting, Pavel Maslovskiy, CEO said:
"The Impact Assessment gives us a fuller understanding of the temporary challenges we have encountered at Andreevskaya East. Having paused operations to ascertain their full significance, we can now look to 2017 with confidence that safe, sustainable operations can recommence in the near future. We have an overriding commitment to our employees and to standards of operational efficiency, which together render any delays to production at Pioneer inevitable in these circumstances."

Important letter to shareholders concerning Board changes and voting options:
http://www.petropavlovsk.net/images/stories/Documents%20and%20Circulars/Petropavlovsk_PLC_Chairmans_Letter_-_FINAL.pdf

Exploration Update
Petropavlovsk PLC ("Petropavlovsk" or the "Company" or, together with its subsidiaries, the "Group") is pleased to provide a further update on the results of exploration work completed during 2016 and 2017.

Dr Pavel Maslovskiy, Chief Executive, comments:
"Petropavlovsk was built on exploration success. Since 2002, we have discovered 31.4Moz of JORC Resources through exploration activities. This has allowed us to produce an impressive 6.3Moz of gold and created a solid base for future sustainable production growth. Using our regional knowledge and technical expertise, our team continues to prove our ability to unlock value through the drill bit.

We have been concentrating our exploration efforts on the discovery and development of mineral resources in the vicinity of our main producing assets, and on upgrading resources to ore reserves. We see new discoveries at our existing mines as the optimal way to ensure sustainability, growth and long term value. I am delighted to report a strong set of exploration results, which are encouraging at all levels including target generation, and to update you on our progress during 2017".

2016 Highlights:
§ 1.55Moz increase in JORC non-refractory reserves, including:
§ 340% increase in non-refractory JORC Reserves at Elginskoye (Albyn) to 1.24Moz, with feasibility study completed
§ First underground JORC Reserve of 370koz (all non-refractory)
o New Pioneer NE Bakhmut underground JORC reserve of 165koz @ 4.46g/t, supporting sustainable 6 year life of mine (LOM), with strong JORC reserve and resource expansion potential
o Quartzitovoye 1 (Malomir) represents new 207koz @ 5.85g/t underground reserve, supporting sustainable 6 year LOM, with further JORC reserve and resource expansion potential
§ Highly promising discovery within Pioneer license area - non-refractory deposit - Katrin
o Shallow orebody with 37m average thickness, 4g/t average grade structure, hosted within a 1km long mineralised zone
o Key 2017 target for non-refractory Reserve and Resource and near term production growth potential
§ Two new zones of mineralisation potentially suitable for open pit mining discovered near Pioneer NE Bakhmut pit No 2
§ Underground potential at extensions below Albyn open pit and near satellite deposits of Unglichikan, Ulgen and Yasnoye
§ 2017 - promising discovery
· In May 2017 underground developments at Quartzitovoye discovered previously unknown high grade zone with intersections of:

o 5.32m @ 69.9g/t

o 1.8m @ 42.9 g/t

o 1.01m @ 12.2 g/t

· Zone has current strike length of c.120m and remains open to south and in down-dip direction
· Group geologists think might be similar to high grade ore body 55, which was the main contributor of Quartzitovoye's total production to date of 615koz
· Group revising its drilling program at Quartzitovoye to give priority to exploration in this area

2017 Exploration Objectives:
§ Delineation and bringing non-refractory reserves into production that are suitable for rapid access and extraction via underground and open pit mining to improve short and mid term cash flow
§ Adding high quality refractory and non-refractory resources for potential open pit and underground extraction to facilitate sustainable production growth in the longer term
§ 2017 estimated exploration budget is US$16m.

StockMarketWire.com
Petropavlovsk announced a 19% year-on-year increase in total gold production in the first half of 2017. This was around 232,400oz compared to 195,600oz in the first half of 2016.

PRODUCTION HIGHLIGHTS
- Production forecast for full year production of c.420,000 - 460,000oz reconfirmed

- From the beginning of 2017, the Company moved to using gold poured as the definition for production

GOLD SALES
- 19% yoy increase in physical volumes of gold sold - c.231,800oz vs H1 2016 c.195,400oz

- 5% increase in average realised gold price - $1,255/oz, vs H1 2016 $1,194/oz

- As at 30 June 2017, the Group had outstanding hedging contracts for 500koz of gold at an average price of $1,252/oz

NET DEBT
- 5% reduction in net debt as at 30 June 2017 - c.$570m (preliminary unaudited) from $599m as at 31 December 2016

Executive Chairman Ian Ashby said: "The increase in production in first half was due to operational efficiencies.

"The operations are currently progressing in line with the company's plan.

"The wide range in the production forecast for the full year reflects the Company's conservative approach to the development of underground mines at Pioneer and Malomir.

"The development of the POX plant is currently progressing on schedule and on budget. Further exploration of new discoveries made in the last year continues.

"The Board's current focus is on the timely delivery of the company's stated objectives: development of the POX Hub; the commissioning of underground mining operations; and the optimisation of the company's capital structure.

"A more detailed update on the Group's operational progress and outlook will be included in the interim results announcement."

StockMarketWire.com
Petropavlovsk boosted third-quarter gold production by 1.6% and reiterated its full-year production guidance.

Gold output for the quarter rose to 104,000oz, from 102,400oz in the previous corresponding period.

Full-year production is still expected at between 420,000oz and 460,000oz

From Inv Ch:
"Back in December, director of Central Asia Metals and former majority shareholder in Kazakhstan’s largest bank Kenges Rakishev acquired a 22.4 per cent stake in the Russian gold miner Petropavlovsk. He met with the board for the first time this week to agitate for several strategic shifts in the wake of a boardroom coup that led to the ousting of chairman Peter Hambro, and the subsequent resignation of co-founder and chief executive Pavel Maslovskiy."

StockMarketWire.com
Petropavlovsk said it had achieved full-year gold production in line with guidance, while forecasting broadly flat growth in 2018.

Full year 2017 gold production was around 439,600 ounces, within guidance of 420,000-460,000oz.

The also company forecast production in 2018 of 420,000-460,000oz.