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Posts : 227
Join date : 2022-06-05

Petropavlovsk Gold  POG  Empty Petropavlovsk Gold POG

Sat Jul 23, 2022 2:49 pm
Deepest sympathies with anyone who was a shareholder, I know of people who’s pensions have been massively damaged by the company going into administration.

I read an article stating shareholders should have realised and had time to sell, but that’s a little unfair as if your in at 20p plus and the company is trading since the Ukraine conflict at around 2p then your damned if you do , damned if you don’t.

The board tried to carry on despite the Russian bank sanctions where introduced and found a work around but the sanctions on selling or buying Russian gold killed them off.

Not wanting to downplay the horrific results of war, it’s worth considering the company’s position, they were effectively caught in the middle of a storm.
It still seems surreal a UK based gold company that was both profitable and had plenty of mine life left has gone to the wall due to external factors.

At the start of the year no one from mainstream politics was predicting a Russian invasion of Ukraine nor was it factored into any share prices of Russian located miners; on the contrary Russia up until March was considered one of the safer jurisdictions.

The joys of investment.

LSE company link below

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