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Petropavlovsk - Conservative productions forecasts could be beaten

April 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • POG
  • Price:
  • 1004p
Prospects could be improving for Russian gold miner Petropavlovsk, whose trading update noted a 4% increase in production to 506,800 oz for the year, while Q4 produced 202,000 oz, 51% higher than the same period a year ago. Its Pioneer mine increased production 21% to 98,500 oz, while the original one at Pokrovskiy increased output 33% to 54,600 oz. Following commissioning last August the third mine at Malomir produced 33,000 oz. After being chastened by their failure to reach earlier production targets, management have issued a far more conservative forecast for 2011 of 600,000 oz but they noted that this doesn't take into account either expansion of the Malomir plant (the second milling facility is on schedule for commiss ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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