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Petropavlovsk PLC (POG.L)

POG.L on London Stock Exchange

9.78GBp
6:52am EDT
Change (% chg)

-0.06 (-0.64%)
Prev Close
9.84
Open
9.80
Day's High
9.80
Day's Low
9.53
Volume
493,280
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4,860,470
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10.00
52-wk Low
5.15

Latest Key Developments (Source: Significant Developments)

Petropavlovsk Exercises Option To Redeem Bonds
Wednesday, 3 Jul 2019 08:41am EDT 

July 3 (Reuters) - Petropavlovsk PLC ::SAYS HAS ELECTED TO EXERCISE ITS OPTION TO REDEEM OUTSTANDING BONDS.SAYS WILL REDEEM OUTSTANDING BONDS ON 9 JULY 2019.LAST DATE ON WHICH CONVERSION RIGHTS ARE EXERCISABLE IN RESPECT OF BONDS IS 4 JULY 2019 AT AN EXCHANGE PRICE OF £0.0826 PER SHARE.  Full Article

Petropavlovsk FY Net Profit Down At $25.9 Mln
Wednesday, 24 Apr 2019 02:14am EDT 

April 24 (Reuters) - Petropavlovsk PLC ::FY PRETAX PROFIT 82.4 MILLION USD VERSUS 48.9 MILLION USD YEAR AGO.FY REVENUE FELL 16 PERCENT TO 499.8 MILLION USD.2018 GROUP REVENUE OF $499.8M (2017: $587.4M).2018 NET DEBT OF $568M (2017: $585.1M).2018 ALL-IN SUSTAINING COSTS1 (AISC) WERE $1,117/OZ (2017: $963/OZ).RECOVERIES AT POX HUB WERE CONSISTENT AT 91% IN MARCH AND ON TRACK TO MEET 94% TARGET SET FOR JUNE 2019.GOLD SALES ARE ON TRACK TO MEET FULL YEAR TARGET OF 450 - 500KOZ.Q1 GOLD PRODUCTION AND SALES OF 107.7KOZ.IN 2019, PRODUCTION FROM MALOMIR FLOTATION PLANT IS EXPECTED TO RANGE BETWEEN 125KT - 145KT OF MATERIAL GRADING BETWEEN 29G/T - 32G/T.APPROXIMATELY 32KT OF HIGH-GRADE REFRACTORY CONCENTRATE WAS PROCESSED THROUGH POX HUB DURING Q1.CAPEX IN 2019 IS EXPECTED TO RANGE FROM $45M TO $55M.2018 UNDERLYING EBITDA 126.6 MILLION VERSUS $100.4 MILLION YEAR AGO.POX HUB IS EXPECTED TO TREAT 155KT TO 175KT OF REFRACTORY GOLD CONCENTRATES GRADING 30G/T - 31G/T IN 2019.2018 PROFIT FOR THE PERIOD $25.9 MILLION VERSUS $37.1 MILLION YEAR AGO.2019 TCC GUIDANCE OF $850 - $950/OZ.  Full Article

Petropavlovsk Says Refinancing Of ICBC Loan Has Been Completed
Tuesday, 19 Mar 2019 12:26pm EDT 

March 19 (Reuters) - Petropavlovsk PLC ::SAYS REFINANCING OF OUTSTANDING INDUSTRIAL AND COMMERCIAL BANK OF CHINA LTD ("ICBC") LOAN HAS BEEN COMPLETED.SAYS SUM OF US$169 MILLION HAS BEEN APPLIED TO FULLY REPAY K&S'S OUTSTANDING PRINCIPAL INDEBTEDNESS UNDER ICBC FACILITY.SAYS REMAINING US$3 MILLION BEING DRAWN AS WORKING CAPITAL FOR K&S.SAYS IT IS EXPECTED THAT $57 MILLION WILL BE DRAWN TO REPAY TWO BRIDGE LOANS ADVANCED BY PETROPAVLOVSK TO IRC DURING 2018 AS WELL A GUARANTEE FEE OF $6 MILLION.SAYS BOTH AMOUNTS WILL BE DRAWN ON OR AROUND 21 MARCH 2019.DEFERRED GUARANTEE FEE AMOUNTING TO $5 MILLION IS PAYABLE BY IRC TO PETROPAVLOVSK NO LATER THAN 31 MARCH 2020.  Full Article

Petropavlovsk Announces New Recourse Agreement
Tuesday, 26 Feb 2019 09:59am EST 

Feb 26 (Reuters) - Petropavlovsk PLC ::ANNOUNCEMENT REGARDING NEW RECOURSE AGREEMENT.SAYS NEW RECOURSE AGREEMENT IS IN CONNECTION WITH GUARANTEE AGREEMENTS BEING PROVIDED BY PETROPAVLOVSK FOR GAZPROMBANK FACILITIES.PURPOSE OF AGREEMENT IS TO ENABLE CO, IF THERE IS CREDIT DEFAULT UNDER GAZPROMBANK FACILITIES, TO ADVANCE FUNDS TO IRC.SAYS NEW RECOURSE AGREEMENT IS ALSO TO AVOID GAZPROMBANK CLAIMING DIRECTLY FROM PETROPAVLOVSK UNDER GUARANTEE AGREEMENTS.SAYS AS AT DATE OF THIS ANNOUNCEMENT, NO LOAN HAS BEEN DRAWN DOWN UNDER NEW RECOURSE AGREEMENT.  Full Article

Petropavlovsk Says IRC Entered New $240 Mln Finance Facility
Wednesday, 19 Dec 2018 02:08am EST 

Dec 19 (Reuters) - Petropavlovsk PLC ::UPDATE ON IRC LOAN REFINANCING TRANSACTION.FIRST STAGE OF PLAN TO REDUCE GUARANTEE TO ICBC IS COMPLETED WITH IRC ENTERING INTO NEW $240 MILLION FACILITY WITH GAZPROMBANK.AMOUNT OF CO'S CURRENT GUARANTEE WILL INITIALLY REDUCE FROM $204 MILLION TO $160 MILLION.  Full Article

Petropavlovsk Q3 Total Gold Production At 102,000 Oz
Friday, 26 Oct 2018 02:00am EDT 

Oct 26 (Reuters) - Petropavlovsk PLC ::Q3 TOTAL GOLD PRODUCTION FOR QUARTER WAS 102,000OZ OF WHICH 19,700OZ WAS GOLD CONTAINED IN CONCENTRATE COMPARED TO 104,000OZ AND NO GOLD IN CONCENTRATE IN Q3 2017.SAYS POX DEVELOPMENT PROGRESS IS ON TRACK WITH DRY COMMISSIONING 80% COMPLETE AND WET COMMISSIONING HAVING COMMENCED IN OCTOBER.SEES 2018 PRODUCTION: C.420,000 - 450,000OZ, INCLUDING GOLD IN CONCENTRATE.  Full Article

Petropavlovsk Notes IRC's Announcement On Delay Of Loan Repayment
Friday, 19 Oct 2018 11:43am EDT 

Oct 19 (Reuters) - Petropavlovsk PLC ::IRC ANNOUNCES UPDATE ON TEMPORARY BRIDGE LOAN.NOTES ANNOUNCEMENT MADE TODAY BY IRC LTD ABOUT DELAY OF ABOUT 2 MONTHS IN REPAYMENT OF TEMPORARY BRIDGE LOAN ADVANCED BY CO TO IRC.CONFIRMS IT WILL NOT EXERCISE ITS RIGHT TO DEMAND REPAYMENT OF LOAN PROVIDED THAT ALL AMOUNTS ARE REPAID IN FULL BY DEC 20.CONFIRMS IT WILL NOT EXERCISE ITS RIGHT TO DEMAND REPAYMENT OF LOAN PROVIDED THAT IRC IS TO PAY A FEE EQUIVALENT TO US$200,000.  Full Article

IRC Updates On Temporary Bridge Loan
Thursday, 18 Oct 2018 08:01pm EDT 

Oct 19 (Reuters) - IRC <1029.HK>::SAYS "POKROVSKIY MINE" (THE LENDER) HAS CONFIRMED THAT IT WILL NOT TAKE ANY ACTION OR EXERCISE ITS RIGHT TO DEMAND REPAYMENT OF THE BRIDGE LOAN ON 20 OCTOBER 2018 UNDER CERTAIN CONDITIONS.ALL AMOUNTS OWING UNDER THE BRIDGE LOAN SHOULD BE REPAID IN FULL BY DECEMBER 20.ANY INTEREST THAT HAS ACCRUED ON OR PRIOR TO OCTOBER 20 SHOULD BE PAID IN FULL BY OCTOBER 20 AND ANY INTEREST ACCRUING AFTER OCTOBER 20 SHOULD BE PAID ON THE LAST DAY OF EACH MONTH PRIOR TO DECEMBER 20.THE COMPANY PAYS AN APPROVAL FEE IN RUSSIAN ROUBLES EQUIVALENT TO $200,000 TO THE LENDER IN CONSIDERATION FOR THE WAIVER OF THE LENDER’S RIGHTS AS SET OUT ABOVE.  Full Article

Petropavlovsk H1 Net Result Turns To Loss Of $24.8 Mln
Thursday, 27 Sep 2018 02:03am EDT 

Sept 27 (Reuters) - Petropavlovsk PLC ::H1 GROUP REVENUE OF US$270 MILLION (COMPARED TO US$304 MILLION IN H1 2017) DUE TO LOWER QUANTITY OF GOLD SOLD.SAYS H1 LOSS FOR PERIOD OF US$24.8 MILLION (COMPARED TO PROFIT OF US$24.5 MILLION IN H1 2017).H1 UNDERLYING EBITDA OF US$61 MILLION (H1 2017: US$114 MILLION).H1 TOTAL CASH COSTS (TCC) INCREASED TO US$899/OZ IN H1 2018 (H1 2017: US$675/OZ).H1 NET DEBT OF US$566 MILLION (31 DECEMBER 2017: US$585 MILLION).SAYS TOTAL GOLD PRODUCTION FOR FULL YEAR IS EXPECTED TO BE WITHIN RANGE OF C.420,000 - 450,000OZ.SAYS 2018 FULL YEAR TCC IS NOW EXPECTED TO BE WITHIN US$750 - 800/OZ.AISC FOR FULL YEAR OF 2018 EXPECTED TO BE C.US$1,050 - 1,100/OZ (A DECREASE COMPARED TO H1 2018 OF US$1,138/OZ).SAYS CAPEX FOR YEAR IS EXPECTED TO BE C.US$107 MILLION IN LINE WITH PREVIOUS GUIDANCE.2020-2022 PRODUCTION OUTLOOK IS CURRENTLY EXPECTED TO BE WITHIN RANGE OF 500,000 - 550,000OZ PER ANNUM.MALOMIR AND PIONEER UNDERGROUND MINES OPERATIONS ARE EXPECTED TO OPERATE AT FULL CAPACITY FROM Q4 2018.PETER HAMBRO HAS BEEN APPOINTED AS PRESIDENT OF COMPANY, AND AS SENIOR ADVISER TO BOARD OF PETROPAVLOVSK.SAYS POX HUB HAS ENTERED DRY COMMISSIONING WITH MAIDEN PRODUCTION EXPECTED IN Q1 2019.2019 GOLD PRODUCTION GUIDANCE OF APPROXIMATELY 500,000OZ.  Full Article

Petropavlovsk Announces Proposed IRC Loan Refinancing Transaction
Monday, 24 Sep 2018 02:01am EDT 

Sept 24 (Reuters) - Petropavlovsk PLC ::SAYS IRC AND COMPANY HAVE BEEN ADVISED BY A LEADING RUSSIAN BANK THAT ITS CREDIT COMMITTEE HAS GRANTED APPROVAL FOR A NEW US$240 MILLION FACILITY.SAYS TOTAL AMOUNT BORROWED BY IRC FROM BANK WILL AMOUNT TO C.US$240 MILLION.SAYS FULL RELEASE OF PETROPAVLOVSK'S OBLIGATIONS AS A GUARANTOR OF IRC'S BORROWINGS WILL HAPPEN IN STAGES.SAYS FULL DECREASE TO 0% WILL BE ACHIEVED BEFORE END OF 2020.  Full Article