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Petropavlovsk - On track to achieve 600,000 oz in 2011

December 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:
  • 729p
Petropavlovsk is finally putting its problems to one side with half-year results and production beating forecasts. For the six months to 30 June revenues rose 143% to US$475m while EBITDA was US$186m, 10% ahead of forecast. Net profit was US$108.2m, compared with a loss of US$55.4m in H1 2010, while eps was 57 cents (H1 10: loss of 31 cents).   Gold production for H1 was up 32% to 219,100 oz, while average realised prices rose 26% to US$1,455 / oz, nicely outstripping the rise in costs of 24% to US$659 / oz. The ma ...

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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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