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

cheers GF.

POG has taken a battering lately. Perhaps news like this will help.



RNS Number : 0515H
Petropavlovsk PLC
12 February 2010







12 February 2010





Appointment of Dr. Graham Birch as Non-Executive Director



Petropavlovsk PLC announces that Dr. Graham Birch has agreed to become a Non-Executive director with immediate effect.



Dr. Birch recently retired as Head of international fund manager BlackRock's successful natural resources team, where he was responsible for some $40 billion of assets. He has been well known to the mining industry as manager of BlackRock's World Mining Trust and Gold and General Unit Trust. Dr. Birch was a Director of BlackRock Commodities Investment Trust plc until 2009.



Dr. Birch aged 49, gained his PhD in mining geology at Imperial College, London and worked at Kleinwort Benson Securities and Ord Minnett/Fleming Ord Minnett before joining the highly regarded, late Julian Baring at Mercury Asset Management in 1993. Together they launched a number of mining and natural resources funds which are today among the largest such funds in the world. In 1997, Mercury Asset Management was acquired by Merrill Lynch Investment Managers which was itself eventually acquired by BlackRock in 2006.



As a Non-Executive director of Petropavlovsk, Dr. Birch will serve on the Audit, Nomination and Risk Committees.



There are no other details to be disclosed in relation to Dr. Graham Birch in accordance with Listing Rule 9.6.13.



Peter Hambro, Chairman of Petropavlovsk, commented:

"We are very fortunate that Graham has agreed to join the Board. His experience of our industry is exceptional; not least because he and the team he worked with have looked in depth at many of the most significant mining enterprises in the world. Based on that knowledge, he has gained an excellent track record of identifying those companies with the greatest potential for success. It is an honour that he has now chosen to join our team and I greatly look forward to his contribution."



Enquiries:



Petropavlovsk PLC

Alya Samokhvalova

Charles Gordon

Rachel Tuft


+44 (0) 20 7201 8900



Merlin

David Simonson

Tom Randell
+44 (0) 20 7726 8400






Note to Editors:

Petropavlovsk PLC, which produced 486,800 ounces of gold in 2009, is Russia's third largest gold producer.










This information is provided by RNS
The company news service from the London Stock Exchange

SP recovering strongly today,up nearly 50 points,but still down 25% from highs. Gold price recovery must be helping,now back over $1100.

perhaps someone is waking up to the fact that POG also has very considerable iron ore assets ...... almost tempted to buy more, though prudence says i should not as am already o'weight here

A lot of upside today. Currently up 9%

.

says it all .....

.

no!

.

m
Lol!
its called brevity,
regards
jkd

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From the current Shares Mag:
"Gold suffered its biggest one-day price drop in 14 months last week (4 Feb) but Shares believes the precious metal has limited downside from here.
Investors should use the weakness to buy gold mining stocks such as Petropavlovsk (POG) which is trading at a four-month low of 877p. Gold fell by 4.4% to below $1,060 per ounce as equity markets stumbled and the dollar rose. The dollar, which throughout 2009 tended to move in the opposite direction to the gold price, was pushed up by a weaker euro as markets worried about the financial state of Greece, Spain and Portugal. Against this catalyst, rising jobless claims in the US was taken by some to mean the country's economic recovery could take longer than expected which could halt the rising US dollar and favour gold.
Petropavlovsk is forecast to produce between 670,000 and 760,000 ounces of gold in 2010. It has $456 million cash, a significant number of growth projects and will recommence dividends this year. (DC)"
(THE WRITER HOLDS SHARES IN PETROPAVLOVSK)

POG goes ex-divi 24th feb '10.

There seems to be a change from the negative stance toward POG.,and about time too. Black Rock have also increased their stake to some 13%

From FT blog site this morning, flagged as rumour only:
POG - THEY COULD INCREASE THE JORC.
"Firstly, this should be seen as a +POG LN / -RRS LN, these two have become complete natural price parallels.. - POG LN (BUY) Increased speculation that POG will increase the Jorc Reserve when they announce their figs are announced 25th March. Those that don't know, the 'Jorc' is the audited amount of gold reserves held & we are hearing that it will increase massively. - Needless to say, this will contribute to close the 19% discount to RRS built up over the last 4 mths, whilst POG is also paying 7p div (generous for a gold co) on the 25th Feb. For a hedged, 1 month view, this is self funding."

regardless of that rather worthless bit of info - not your fault harry - i still reckon POG is a damn good outfit, though it has tiresomely underperformed for a while

got in too early and suffering the wait for recovery..

tempted to buy some more, but i'm nervous as to what the markets will do over the coming days/weeks - they're even more unpredictable than usual

don't know why surge in sp any more than i understood its drop from favour over recent weeks ..... nevertheless, simple chart shows good breakout IF it can be maintained

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Broker note from Canaccord today:
"We are reinforcing our BUY recommendation on Petropavlovsk, not on the basis of the expected result, but more on the basis of an expected US$1,300/oz gold price peak this year and an average gold price of US$1,250/oz. We have demonstrated the strong correlation between moves in the gold price and the price of Petropavlovsk shares before (see Daily Letter, 3 December 2009.
Our analysis suggests the stock is fairly priced for the current gold price at US$1,105/oz. At this price our NAV is 10.80/share. However, at US$1,300/oz our NAV stands at 15.23/share.
More importantly, a 30% erosion of Petropavlovsks current discount versus its peer group would suggest a fair market price in the range of 15-16/share.
We think this potential re-rating provides investors in Petropavlovsk with an additional growth vector beyond the more general gold price driver behind most other gold investments."