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

cheers GF.

17 July: Goldman reitterates 'Neutral'. TP 520p.

.

2012 Half Year Trading Update
http://www.moneyam.com/action/news/showArticle?id=4414340

Commenting on the announcement, Peter Hambro, Chairman, said:
"We are delighted to look back on six months of record gold production at our mines, following yet another quarter of strong operational performance. Our track-record of building a successful multi-mine portfolio was strengthened further with the commissioning, ahead of schedule, of the fourth processing line at Pioneer and the second processing line at Albyn. The latter doubles the designed capacity at Albyn eight months after it commenced production. In parallel, our exploration programme is continuing to uncover further non-refractory reserves adjacent to our existing assets, ensuring that our growth trajectory is maintained in the years to come. We look forward to providing a further update on exploration in August.

Our strong performance this quarter supports our upgraded full-year production target of 700,000oz. Work has been progressing well on the pressure oxidisation ("POX") facilities for our planned commissioning at the end of 2013. At the same time, training has been continuing at our in-house facilities for the expert team which will be running the process in the years to come. Our focus for the second half of the year will remain on tight cost control and an increase in operational efficiencies."

Hambro is delighted at the strong performance
but shareholders, who continue to see POG
undeperforming, don't get mentioned in dispatches, of course.
It's a very long way to Tipperary!

POG half-year results for the period
ended 30 June 2012 will be released on
23 August 2012.

sounds nasty, but no idea what was expected ......

Russia-focused gold miner Petropavlovsk said on Thursday its first half net profit fell 90 percent, year-on-year, to $11 million due to higher interest expenses, but forecast its profitability to improve in the second half of the year. It posted a record revenue for the period of $546.8 million - a 15 percent increase compared to the first half of 2011. Petropavlovsk also reiterated its full year production target of 700,000 troy ounces and said that scheduled increases in production in the second half of 2012 were expected to significantly improve its profitability

Wrong thread!

pog = diageo???????????

no shit sherlock!

http://www.moneyam.com/action/news/showArticle?id=4431692

Half-Year Report for the Period Ended 30 June 2012

Petropavlovsk PLC ("Petropavlovsk", the "Company" or, together with its subsidiaries, the "Group") today issues its Half-Year Report for the period from 1 January 2012 to 30 June 2012 ("H1 2012" or the "Period").

Summary
* Total attributable gold production for the Period of 279,100oz, up 27% on H1 2011 (219,100oz);

* 7% increase in gold sold (to 286,074oz) and 13% increase in average realised gold sales price (US$1,639);

* Record half-year revenues of US$546.8 million, up 15% versus H1 2011 (US$475.1 million);

* Total cash costs for hard-rock mines (excluding Albyn during its ramp-up phase) of US$697/oz, only 6% higher than in H1 2011 despite inflationary pressures;

* Underlying EBITDA increased by 10% versus H1 2011 to US$204.1 million, EBITDA margin of 37%;

* Operating profit of US$93.8 million (2011: US$152.4 million) and net profit of US$11.0 million (2011: US$108.2 million), principally impacted by higher depreciation charges, effect of foreign exchange and interest expense;

* Net cash from operating activities increased 152% to US$46.3 million;

* Interim dividend of £0.05 declared;

* 1Moz increase in Mineral Resources, despite depletion;

* Pressure oxidation project remains on track;

* The Group reiterates its full year production target of 700,000oz;

* Scheduled increase in production in H2 2012 is expected to significantly improve Group's profitability versus H1 2012.

Unfavourable RNS - not doing well.

about par for the course i'm afraid

Looks like full year production target will be missed next time - 700,000oz too high when H1 only produce 279,100oz. Not good.

Although it states that is unlikely and that full year production is on target (increase in production H2) I tend to agree, as POG are a serial diappointer! Good job the price of gold is so high, otherwise profitability would be dire.

POG is only worth about 300p - overpriced imo

Management too afraid to tell the truth or too unrealistic.

do you therefore hold a large bear position?

just in moderate amounts

in your opinion, are the markets in general heading for another slump?

Well do your own research