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Petropavlovsk - Non-precious metals division to list in Hong Kong

October 2010

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:
  • 1228p
Petropavlovsk's interims have been overshadowed by the positive news that it has submitted an application to list its non-precious metals division, including its iron ore operation, on the Hong Kong Stock Exchange, which sent the shares racing towards their recent highs. This has sweetened slightly disappointing results with operating profit falling from US$92m to US$10.7m, largely reflecting a 26% reduction in gold produced to 166,300 oz due to the disruption caused by a hard winter and delays in receiving new equipment. This reduction in profit was also due to processing lower grades and the need to conduct pre-stripping works to prepare further areas for production. Overall, the group now expects to produce 670,000 - 760,000 oz ...

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