Dealing with the Polymetal delisting and moving holding to Kazakhstan

[Red Debt Redemption]

When's divi?

[Foor]

Polymetal International plc Q2 2023 production results

Polymetal International plc reports production results for the second quarter ended June 30, 2023.

"Q2 saw a set of solid production results supporting our full-year production guidance of 1.7 Moz of GE. The company continued to experience logistical disruptions of concentrate shipments. Management is working on establishing new transportation routes to resolve this issue by Q4 2023", said Vitaly Nesis, Group CEO of Polymetal International plc.

HIGHLIGHTS

-- No fatal accidents occurred among the Group's workforce and contractors in H1 2023 (consistent with H12022). Lost time injury frequency rate (LTIFR) among the Group's employees stood at 0.11 (0.08 in H1 2022), asthere were seven lost-time accidents mostly related to falling or being hit by an object, with none of them withinKazakhstan operations.

-- Q2 gold equivalent production ("GE") grew by 22% year-on-year (y-o-y) to 423 Koz driven by increaseswithin Russian operations (Nezhda and Albazino).

-- GE output for H1 was up by 3% y-o-y to 764 Koz, including 213 Koz in Kazakhstan and 551 Koz in Russia,due to the same factors as above. Polymetal reiterates its full-year production guidance of 1.7 Moz of GE (1.2 Mozin Russia and 500 Koz in Kazakhstan).

-- The Company recorded a sales-production gap in Q2, notably for Kyzyl, which was a result of thepersistent railway issues at the eastward direction. It is expected to be closed by the year end as the Company isgradually switching to alternative transportation routes.

-- Revenue for the reporting quarter and six months increased by 34% and 25% y-o-y to USUSD 581 and USUSD 1,315million respectively on the back of sales volumes recovery in Russia and higher metal prices.

-- Net Debt reached USUSD 2.59 billion (USUSD 0.2 billion in Kazakhstan and USUSD2.39 billion in Russia) on theback of sanctions-related sales disruptions in the Russian business.

 

[TNS]

Update on the redomiciliation of Polymetal

Dear Polymetal investors, The purpose of today's edition of our newsletter is to provide you with the following updated information in relation to the re-domiciliation of Polymetal International.

Trading in shares of Polymetal  International Plc. (ISIN JE00B6T5S470) on AIX Market resumes today, 10 August 2023. On-exchange transactions are available to clients of AIX CSD Participants. AIX Registrar and AIX CSD now accept OTC transfer instructions for processing. In case you have an active custody account at AIX CSD via Tabys, your securities will be automatically transferred from your Registrar account to your AIX CSD account opened via Tabys. We expect this task to be completed within one week. Once completed, you will be able to review and manage your holdings at AIX CSD via Tabys application. Please be reminded that on-exchange sales and purchases are not available via Tabys. In parallel, we are conducting due diligence on accounts opened at the AIX Registrar so that we can then reach out to investors and grant access to the online Registry Portal.

We thank you in advance for your patience and understanding that these processes might take longer than you expect as we have to deal with a very high number of requests. We pledge to keep you informed on a regular basis. Please contact us at [email protected]. Best regards, The AIX team

and on that note, $4.41 or around £3.40 a share on the open!

[sancho panza]

Applied for my Tabys access code on Tuesday.Received this today.Must say I'm quite impressed with the efforts of Polymetal to help shareholders

'Dear shareholder,

 

You have received this email as you requested an access code for the Tabys application. The AIX will soon begin circulating access codes using the mobile phone number and/or e-mail address you provided. As soon as you receive the code, you can proceed with the registration in the application according to the user guide available here: https://www.polymetalinternational.com/files/en/Tabys_guide.pdf. Shortly after the registration completion, you will receive a notification in the app that your shares have been deposited to your account.

US citizens are not yet eligible to register with Tabys and are encouraged to use AIX Registrar portal. Shareholders can request information on the portal directly from AIX registrar using the following email address: [email protected]

 

If you do not receive an access code by end of this week, please email us at [email protected]

For any questions in relation to the registration process and use of Tabys, please refer to Tabys team directly using the chat bot available on the application’s home page or by email at [email protected]  '

 

 

[MockneyRebel]

On 08/08/2023 at 22:28, Red Debt Redemption said:

When's divi?

 

Quote

 

"THE DIVIDEND IS RETURNING SOONER THAN I EXPECTED!

Nesis said they are definitely looking to pay a dividend to investors by year end and this is dependent on the speed that Russia is able to liquidate excess inventory that has accumulated from the disrupted sales channels as a result of U.S. Sanctions. Approximately 200,000 thousand of gold have accumulated in the Russian side and 60-70,000 ounces have accumulated in Kazakhstan. The total value of this accumulated inventory is $500M USD and Nesis is confident 80% of that will be cleared out by the end of the year. Dividends can be paid before the Russian sale occurs."

https://www.reddit.com/r/POYYF/comments/15n6kqq/polymetal_q2_2023_update_news/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2&rdt=49224

 

 

TLDR: Dividend expected by end of the year (but this requires the resumption of gold sales from RU business).

Edit: Info seems to be from the following youtube video

 

Edited August 10, 2023 by MockneyRebel

[Funn3r]

10 minutes ago, MockneyRebel said:

 

 

TLDR: Dividend expected by end of the year (but this requires the resumption of gold sales from RU business).

Edit: Info seems to be from the following youtube video

 

That must have been awful for them. All that gold piling up and clogging the place out.

[sancho panza]

https://aix.kz/issuers/polymetal-international-plc/

[Foor]

https://data-feed.aix.kz/symbol/POLY/index?scheme=light

 

https://aix.kz/issuers/polymetal-international-plc/

 

https://market.aix.kz/details/POLY/market-depth

 

[Pip321]

13 hours ago, sancho panza said:

https://aix.kz/issuers/polymetal-international-plc/

It’s up a nudge again $4.40 and it tricky to try understand how to translate this verses the £1.90/£2.00 or so it closed at when it stopped trading in London…I mean allowing for everything rather than just a £/$ conversion ie shares trade at slightly different levels on different exchanges. 

It seems to have moved from $3.76 on the AIX around 9th (jumping on the 10th) to this level.

AJ Bell are kindly holding mine in the SIPP but the value is now fixed, shame I can’t directly track it in a simple way to my purchase anymore.

Still it’s up this week….that’s good so far😂

[sancho panza]

2 hours ago, Foor said:

https://data-feed.aix.kz/symbol/POLY/index?scheme=light

 

https://aix.kz/issuers/polymetal-international-plc/

 

https://market.aix.kz/details/POLY/market-depth

 

Let's put a piccy on that foor.

@Pip321 4.53/1.27 cable=3.56

Maaaan.... those forced sales by II at 1.80 stink to high heaven @Majorpain

Edited August 11, 2023 by sancho panza

[sancho panza]

https://www.mining.com/web/polymetal-plans-to-sell-russian-assets-under-sanctions-in-6-9-months/

Polymetal plans to sell Russian assets under sanctions in 6-9 months

Reuters | August 9, 2023 | 10:16 am Top Companies Russia and Central Asia Gold Silver 

Voro mine is one of Polymetal’s first key gold assets, acquired in 1998. (Credit: Polymetal)

Gold and silver producer Polymetal International, which had planned to separate its Russian and Kazakh businesses, now intends to sell assets in Russia under US sanctions within six to nine months, CEO Vitaly Nesis said on Wednesday.

 

Washington in May included Polymetal’s Russian business and Polyus – the largest gold producers in Russia – on its latest list of sanctions targets, aiming to punish Russia for its actions of Ukraine.

Polymetal International completed a re-domiciling process to Kazakhstan from Jersey on Monday.

The sanctions have complicated the company’s plans, Nesis said on an investor call, making an asset sale, for which he said there were a number of interested buyers, the only viable option.

“A spin-off or distribution of the subsidiary to investors are not possible given the sanctions regime,” Nesis said. “As much as we are keen to preserve the shareholder value, we are equally keen not to breach any sanctions.

“And therefore, the sale of the Russian business remains the only reasonable option, which we will pursue in the course of the next several quarters.”

Six to nine months was a realistic timeframe, he said.

Funds from any sale could be used for construction projects in Kazakhstan as well as making dividends to Polymetal International shareholders. Polymetal International was not sanctioned, just its Russian subsidiary.

(By Anastasia Lyrchikova and Alexander Marrow; Editing by Nick Macfie)

[Majorpain]

On 03/08/2023 at 08:17, Majorpain said:

Ouch, based off what II told me isn't that the truth?  At least if it gets put in black and white, something good will come from this, and could potentially stop us on the deflation thread getting massively screwed over in future.

Oil. Bad. Gone.

Tobbacco. Bad. Gone.

Mining. Bad. Gone.

Defence stocks. Bad. Gone.  (Not joking, banks are making things difficult for UK ones!)

"Exceptional circumstances of the climate crisis" have dictated we need to take all your money and invest in windfarms.....

Aviva....

It is beginning.

[SpectrumFX]

2 minutes ago, Majorpain said:

Aviva....

It is beginning.

"no changes to the risk profile"

How does dumping all of your high div shares not change your risk profile?

Fucking clowns.

 

 

[leonardratso]

13 minutes ago, SpectrumFX said:

"no changes to the risk profile"

How does dumping all of your high div shares not change your risk profile?

Fucking clowns.

 

 

At least with my LANDG one at work i can choose, i had to sellout to a cashfund totally to remove myself from their --> to bonds slowly care plan, then i could subdivide the pot over some other funds, they are limited in scope but to be honest its not too bad, i opted for the biggest potion to go to a mellon fund that had shell as its biggest weighting, got some other shit in there  dont like but needs must i suppose. If they try the above on i will definately just shunt it all to a sipp.

[Pip321]

23 hours ago, Majorpain said:

Aviva....

It is beginning.

And they are only charging you 40p for every £1000 invested for the privilege. Hardly anything…..well, except the lost growth. 

Hey, Aviva if the charges are so small why even charge them? Sneaky bastards.

Just reminds me that the whole industry is set up to serve itself. Fund charges, funds investing in other funds so effectively double/triple charges.

As the book famously criticising the industry is called ‘where are all the customers yachts?’ 

[TNS]

On 17/08/2023 at 08:56, leonardratso said:

At least with my LANDG one at work i can choose, i had to sellout to a cashfund totally to remove myself from their --> to bonds slowly care plan, then i could subdivide the pot over some other funds, they are limited in scope but to be honest its not too bad, i opted for the biggest potion to go to a mellon fund that had shell as its biggest weighting, got some other shit in there  dont like but needs must i suppose. If they try the above on i will definately just shunt it all to a sipp.

What L & G funds did you go for, i found their choice largely shite but did get this one:

L&G MT Emerging Markets Index Fund

[leonardratso]

34 minutes ago, TNS said:

What L & G funds did you go for, i found their choice largely shite but did get this one:

L&G MT Emerging Markets Index Fund

i cant see that one in our available funds stakeholder list, so i cant get it anyways, must be a different pension mix.

Edited August 18, 2023 by leonardratso

[sancho panza]

On 13/05/2023 at 06:25, Foor said:

There is a really good Telegram group called "POLY London"...

https://telegram.org

Search"POLY London", excellent stuff.

HL have now blocked buying Poly. Can only sell the stuff.

They are also being a ball ache in releasing paper certs, which you need to input into the Taby's app.

I like risk me, I think there is a big upside in there, yesterday the bid kept rising yet there was sell sell sell, I think the MM's are filling orders for the big boys, while retail opt out due to risk and the pain in the ass of listing on the AIX.

I even think the company might just relist on the LSE, once the spilt is over and its a Kaz only company. For me to see it back on the LSE at £6 or more would be heart breaking after buying in around the 200's.

But we are all different.

Taby's app activation.

To get the code, please send the
following details to

[email protected]

 

with the subject “Tabys access code request”:

• First name
• Last name
• Date of birth
• Mobile number with a country code
• E-mail

Looks like from the 1st of June there will be no need to convert to paper certs as it will be all done in a digital manner from broker to Taby's app.

Only shareholders holding paper certificates will be able to transfer their holdings to the AIX CSD through Taby's app. Upon the transfer, cert's will be converted into paperless...

Just trying to register on Tabys and got to a screen where I need to register a kazahkstan IIN(ID number).Wont let me proceed without it.

have emailed Tabys team .will update

I've read some ot the telgram links and they talk about deleting it and starting again but that hasnt worked.

 

Loads of the psoters are up and running,so lot of postives.

 

Anyone know how to get round it?

Edit to add:tabys team got back to me quickly and advised to log out and then go back in and I got a range of other country options.

Only problem now is it wont let me inut my name.

Anyone else been throuhg tabys can help,either post up or PM if poss

Edited August 31, 2023 by sancho panza

[Starsend]

Hope they give us the mother of all dividends to make up for all this shit.

[Foor]

1 minute ago, Starsend said:

Hope they give us the mother of all dividends to make up for all this shit.

Vitaly owns over 3 mill his brother 123 mill. I think divs are the priority.

[sancho panza]

Finally got Tabys sorted.I basically missed the opportunity to inpout my code early in registration process which caused all the problems.Once I knew what I was doing the process was really pretty quick.

Head hits table.Been a long day trying to sort this.

Must sya the tabys team always responded quickly given how there must be laods of old tech duffers like yours trulty

Once confirmed,I need to work out how to get my shares moved across.maybe it happens automatically?

Anyone registered on tabys?

Edited August 31, 2023 by sancho panza

[TNS]

Shares deposited into Taby's yesterday, had to email them the paper cert but quickly sorted after.

[sancho panza]

12 hours ago, TNS said:

Shares deposited into Taby's yesterday, had to email them the paper cert but quickly sorted after.

who did you email it to TNS?

Mine are still to show up.

[TNS]

41 minutes ago, sancho panza said:

who did you email it to TNS?

Mine are still to show up.

AIX kyc registrar, they'll email you to request it once your set on tabys, they are pretty on point.

[sancho panza]

From the Telegram group

 

 

Update on the redomiciliation of Polymetal
Dear Polymetal investor,
As we mark the one-month anniversary of Polymetal's re-domiciliation to AIFC and AIX Registrar, we seek to provide you with a detailed update on the latest developments.
Almost all backlogs have now been processed and we will soon be able to deal with inquiries as we receive them. However, it must be stressed that 80% of investors have still not come forward to us to access their Registrar or Tabys account. As we have no way of reaching out to these investors, we will request Polymetal to send a reminder to their database and we also kindly request investors who participate in forums on social medias to share this information. Any information who has concerns on how to access or activate their Registrar or Tabys account should step forward and contact us at the earliest at the email address below.
After this first month, the main issues that investors are facing can be summarized as follows:
• Investors being unable to locate their securities. This is by far the most common issue. A significant number of investors did not receive their certificates in time prior to the re-domiciliation. As a result, their name does not appear in the AIX Registrar. This is very common with investors who purchased their securities via US-based online brokers. Our first message is to reassure these investors that their securities ARE NOT LOST. All Polymetal shares that were on record at the previous Registrar were transferred to the AIX Registrar. Not a single one is missing. The arduous part is now for us to work with Nominee holders to locate investors' holdings and squeeze them out of the Nominee account. Investors then have the choice either to receive them in an account opened under their name at the AIX Registrar (after successful KYC) or to an account opened under a broker or custodian at the AIX CSD.
• 2-Factor Authentication (2FA) sms being rejected by local operators. This is quite frequent for US- and UK-based investors. We deal with such problems on a case-by-case basis by changing the sending carrier from our end, which is generally sufficient to fix the problem. However, it is a cumbersome process that takes time to roll out, hence the delays some investors might have experienced in receiving the 2FA access code. Concerned investors might want to inquire with their carrier if sms messages received from foreign operators are allowed.
• Emails originating from AIX not being received. We send regular updates to a distribution list that has the email address of all investors, whether directly registered or not, who have reached out to us to inquire about the status of their securities. Yet, many investors complain about not receiving these updates. We recommend that investors check their junk box for emails from AIX-related addresses. If nothing can be found, then, most likely, our emails are being blocked upstream by your internet service provider (ISP). In that case, we suggest that investors contact their ISP to allow our emails through.
We are fully focused on ensuring that investors can access their Tabys account, Registrar account or retrieve full ownership of their securities as swiftly as possible. We still need to manage expectations that, in some cases, this might take longer than expected. Any inquiry should be directed to [email protected]
 
With best regards,
 The AIX Team