Polyus - Fosun Deal geplatzt

informativer Hintergrundbericht

www.dealstreetasia.com/stories/...-stake-deal-scrapped-90399/

Natalka wird schneller als erwartet seine volle Kapazität erreichen

www.miningweekly.com/article/...arlier-than-planned-2018-01-16

www.miningweekly.com/article/...-250m-bond-offering-2018-01-19

Financial highlights — 4th quarter of 2017

• Gold sales increased by 3% compared to the 3rd quarter to 597 thousand ounces. Total gold sales include 82 thousand ounces of gold contained in concentrate from Olimpiada.
  
• Revenue totalled $743 million in the 4th quarter and remained almost flat compared to $744 million in the 3rd quarter of 2017.
• Group TCC¹ decreased by 15% to $324 per ounce from $380 per ounce in the 3rd quarter, while AISC² increased to $662 per ounce, up 11% compared to the 3rd quarter of 2017.
  
• Adjusted EBITDA³ amounted to $465 million, a 2% decrease from the 3rd quarter of 2017.
• Adjusted EBITDA margin stood slightly lower at 63%, compared to 64% in the 3rd quarter of 2017.
• Profit for the period decreased to $267 million, partly reflecting the decrease in operating profit and impact of non-cash items in the period.
• Adjusted net profit⁴ amounted to $242 million, a 19% decrease from the previous quarter.
• Net cash inflow from operations amounted to $344 million in the 4th quarter of 2017.
• Capex⁵ increased to $279 million compared to the previous quarter, primarily reflecting increased spending on the brownfield development projects and the ongoing construction works at Natalka.
• Net debt⁶ decreased to $3,077 million at the end of the 4th quarter of 2017 compared to $3,151 million as at the end of the 3rd quarter of 2017.

Operational highlights — 4th quarter of 2017

• Total gold output decreased by 10% quarter-on-quarter to 580 thousand ounces, mainly due to a seasonal slowdown in production at Alluvials.
• Volumes of ore mined increased by 2% to 10,065 kt.
• Volumes of ore processed increased by 7% q-o-q to 7,809 kt driven by the start of hot commissioning at the Natalka mill and the completion of maintenance works at Blagodatnoye and Verninskoye.

www.polyus.com/en/media/press-releases/...ts-for-the-year2017/

www.miningweekly.com/article/...ength-of-assets-ceo-2018-02-15

günstig bewertet
www.miningweekly.com/article/...ke-russian-discount-2018-03-20

www.mining-technology.com/features/...rcome-russian-discount/

Polyus meldet Produktionszahlen für Q1/18

1Q 2018 Highlights

• Total gold output was 507 thousand ounces, compared to 580 thousand ounces in 4Q 2017, mainly due to seasonal slowdown in production at Alluvials and lower production volumes at Olimpiada and Blagodatnoye. Total gold output rose 13% compared to the first quarter of 2017 due to increased total gold output at Olimpiada, including higher gold contained in concentrate production.
• Volumes of ore mined amounted to 8,821 thousand tones, down 12% on the previous quarter. This was in line with the mining plan, as Polyus is conducting a pit cut back at Blagodatnoye. Volumes of ore mined increased 2% compared to the same period of 2017.
• Volumes of ore processed increased 9% compared to the previous quarter, to 8,492 thousand tones. This was driven by a gradual increase in processing volumes at the Natalka Mill. Polyus anticipates to fully ramp up the Natalka Mill in the second half of 2018. Volumes of ore processed rose 28% compared to the first quarter of 2017 due to processing capacity expansion at existing operations as well as the launch of the Natalka operations.
• Estimated gold sales amounted to $608 million, down 17% compared to the previous quarter with an estimated weighted-average gold selling price of $1,336/oz. Estimated gold sales were up 1% compared to the first quarter of 2017, despite a 6% decline in sales volumes over the same period of time.
• As of 31 March 2018, the estimated net debt stood at $3,079 million, compared to $3,077 million as of the end of the fourth quarter of 2017 and $3,128 million as of the end of the first quarter of 2017.

www.polyus.com/en/media/press-releases/...-update-for-1q-2018/

www.miningweekly.com/article/...ction-sales-results-2018-04-17

Polyus visiert das obere Ende seiner Produktionsprognose an

www.miningweekly.com/article/...end-of-guided-range-2018-05-24

www.miningweekly.com/article/...crease-in-q1-profit-2018-05-30

Polyus trifft Investitionsentscheidung zu Sukhoi Log voraussichtlich 2020/2021

www.miningweekly.com/article/...gold-mine-by-202021-2018-06-07

Hier gibt es Details zur Planung dazu:

seekingalpha.com/article/...g-investor-presentation-slideshow

www.mining.com/...loser-building-worlds-largest-new-gold-mine/

• 602 koz Gold
  

polyus.com/en/media/press-releases/trading-update-for-2q-2018/

polyus.com/upload/iblock/e4f/mda-and-fs-2q-2018.pdf

Danke Vassago, bin hier vor ein paar Monaten eingestiegen und sehr zufrieden mit der Entwicklung trotz des anhaltend schwachen Goldpreises. Sicherlich muss man bei russischen Aktien immer ein hohes politischen Risiko mit einkalkulieren, dieses Risiko ist aber aus meiner Sicht weitestgehend schon eingepreist. Ansonsten habe ich mich beim Q2 Bericht besonders an der sinkenden AISC erfreut. Von Q1 zu Q2 haben sich diese von 684 auf 601$ je Feinunze reduziert.

www.miningweekly.com/article/...gold-output-in-2019-2018-09-12

3Q 2018 Highlights

• Total gold output increased 15% to 691 thousand ounces compared to the previous quarter (2Q 2018: 602 thousand ounces). Year on year, volumes of doré gold and total gold output rose by 10% and 8%, respectively.
     
  
• Volumes of ore mined amounted to 12,673 thousand tonnes, a 36% increase on the previous quarter and 28% increase year on year.
  
  
•    Volumes of ore processed rose to 10,382 thousand tonnes, up 5% on the previous quarter as the Company is continuing to expand processing capacities at its core assets.
     Volumes of antimony contained in flotation concentrate amounted to 6.4 thousand tonnes, up 3% on the previous quarter.
     
  
• Polyus has launched the Pre-feasibility Study (“PFS”) at Sukhoi Log. The drilling campaign remains in progress.
     
  
• Estimated gold sales amounted to $821 million, up 20% compared to the previous quarter, with an estimated weighted-average gold selling price (incl. the impact from the SPPP) of $1,209/oz (down 7% on the second quarter of 2018).
  
  
•    As at 30 September 2018, the estimated net debt stood at $3,029 million, compared to $3,208 million as at the end of the previous quarter and $3,077 million as at the end of 2017.
  
  

polyus.com/en/media/press-releases/...e-third-quarter-of-2018/

Key highlights

• Total gold sales volumes of 699 thousand ounces, up 32% compared to the second quarter. This includes 92 thousand ounces of gold contained in concentrate from Olimpiada.
  
  
• Revenue of $832 million, up 20% compared to $692 million in the second quarter, driven by a seasonal increase in sales from the alluvial operations and higher flotation concentrate sales volumes from Olimpiada. The group's revenue includes sales from Natalka starting from the third quarter of 2018, following the cessation of its capitalisation from 1st of August 2018.  
  
  
• 
  The group's TCC remained flat at $345 per ounce. This figure includes TCC at Natalka, which amounted to $685 per ounce in the third quarter. A seasonal increase in output at the structurally higher cost alluvial operations put additional pressure on the group's TCC. These factors were fully mitigated by local currency depreciation as well as by-product credit from sales of antimony-rich flotation concentrate, which amounted to $33 per ounce in the third quarter.
  
  
• 
  Adjusted EBITDA was $537 million, an 18% increase from the second quarter 2018, driven by higher gold sales volumes. Adjusted EBITDA margin stood at 65%.
  
  ·    Profit for the period increased to $144 million, reflecting the increase in operating profit and the impact of non-cash items. Foreign exchange loss was lower compared to the previous quarter.
  
  
• 
  Adjusted net profit was $355 million, a 22% decrease from the previous quarter, which reflects the impact of non-cash item such as lower foreign exchange loss in the period.
  
  
  
• Net cash generated from operations was $423 million, compared to $376 million in the previous quarter.
  
  
  
• Capital expenditures ("capex") was $146 million, a decrease on the previous quarter, reflecting lower capital expenditures across most of the business units. Separately, as of 1 August the Company ceased the capitalisation of borrowing costs and other directly attributable operating costs at Natalka.
  
  
  
• Cash and cash equivalents as at 30 September 2018 were $1,000 million, compared to $908 million as at 30 June 2018. The increase was driven by the strong operational performance in the reporting period.
  
  
  
• Net debt decreased to $3,029 million, compared to $3,208 million as at the end of the second quarter.
  
  
  
• The net debt/adjusted EBITDA ratio decreased to 1.6x compared to 1.8x as at 30 June 2018, reflecting a decrease in the net debt position and growth in adjusted EBITDA.
  

polyus.com/upload/iblock/4bd/...inancial-results_final-_2_.pdf

4Q 2018 Highlights 

• Total gold outputdecreased 8% to 637 thousand ounces compared to the previous quarter (3Q 2018: 691 thousand ounces). Year on year, volumes of doré gold and total gold output grew by 5% and 10%, respectively
  
• Volumes of ore mined amounted to 12,030 thousand tonnes, representing a 5% decline on the previous quarter and a 20% increase year on year
  
• Volumes of ore processed totalled 9,279 thousand tonnes, down 11% on the previous quarter. Year on year, volumes of ore processed rose by 19% as the Company continues to expand processing capacities at its core assets
  
• Volumes of antimony contained in flotation concentrate declined by 45% to 3.5 thousand tonnes compared to the previous quarter (3Q 2018: 6.4 thousand tonnes)
  
• AMC has updated the Sukhoi Log Mineral Resources estimate in accordance with JORC Code 2012. According to AMC, estimated Mineral Resources at Sukhoi Log stand at 962 million tonnes, with an average grade of 2.1 g/t Au and containing 63 million ounces of gold as at 30 October 2018. The estimate is a nine per cent increase compared to the previous estimate. AMC has also upgraded 28 million ounces of Inferred Mineral Resources to Indicated Mineral Resource
  
• The Company has completed the ramp-up of Natalka to annualised name-plate throughput capacity of 10 million tons. The Natalka Mill is now operating at a design flowsheet following the completion of repair works at the ball mill and scheduled maintenance works
  
• Estimated gold sales amounted to $764 million, down 7% compared to the previous quarter, with an estimated weighted-average gold selling price (incl. the impact from the SPPP) of $1,232/oz (up 2% on the third quarter of 2018)
  
• As at 31 December 2018, the estimated net debt stood at $3,086 million, compared to $3,029 million as at the end of the previous quarter and $3,077 million as at the end of 2017
  

FY 2018 Highlights

• Total gold output increased to 2,436 thousand ounces, compared to 2,160 thousand ounces in 2017, representing a 13% increase. This is higher than the guidance of 2.375-2.425 million ounces
  
• Doré volumes totalled 2,450 thousand ounces, up 13% compared to the prior year
  
• Volumes of ore processed rose by 33% year on year, to 38,025 thousand tonnes, driven by the ramp-up of the Natalka Mill, the capacity expansion projects at existing operations and the start of the heap leaching operations at Kuranakh
  
• Estimated gold sales increased 7% year on year to $2,876 million, with an estimated weighted-average gold selling price (incl. the impact from the SPPP) of $1,265/oz, broadly in line with the prior year
  

polyus.com/upload/iblock/b13/...ding_update_4q18_final-_2_.pdf

 

www.miningweekly.com/article/...rofit-on-rising-gold-sales-2019-02-11

polyus.com/upload/iblock/6e2/...elease_4q_fy2018_final-_1_.pdf

www.miningweekly.com/article/...oi-log-gold-deposit-2019-03-12

1Q 2019 Highlights

   

• Total gold output decreased 6% to 601 thousand ounces compared to the previous quarter (4Q 2018: 640 thousand ounces). Year on year, volumes of doré gold and total gold output grew by 22% and 19% respectively.
  
• Volumes of ore mined amounted to 13,946 thousand tonnes, representing a 16% increase on the previous quarter. On a year on year basis, volumes of ore mined rose by 58%, reflecting intensified mining activities at Natalka as well as higher ore feed requirements at existing operations following the implementation of processing capacity expansion projects.
  
  
• Volumes of ore processed totalled 10,284 thousand tonnes, up 11% on the previous quarter. Year on year, volumes of ore processed rose by 21%, driven by the completion of the ramp-up at Natalka as well as ongoing capacity expansion projects at Polyus’ core assets
  
• 
     Estimated gold sales amounted to $741 million, down 3% compared to the previous quarter, with an estimated weighted-average gold selling price of $1,308/oz (up 6% on the fourth quarter of 2018).
  
  
• As at 31 March 2019, the estimated net debt stood at $3,011 million, compared to $3,086 million as at the end of the previous quarter and $3,079 million as 31 March 2018.
  

polyus.com/en/media/press-releases/...e-first-quarter-of-2019/

Behaupten dem Wert stehen goldene Zeiten ins Haus ist da wer anderer Meinung?  

Polyus hat sich für mich sehr gelohnt. Einstieg bei 32 € Ende 2018, hat sich mehr als verdoppelt. Klar ist der Goldpreis entscheidend. Aber Polyus produziert günstig und hat moderne Minen.
Ich werde Polyus weiter behalten. Schade ist nur, dass Polyus in D fast nur in Stuttgart gehandelt wird. Die Massen der Umsätze laufen in London...

1Q 2020 Highlights

• 
     Total gold output in the first quarter of 2020 amounted to 595 thousand ounces, compared to 804 thousand ounces in the fourth quarter of 2019. The decrease reflects a seasonal slowdown in production at Alluvials and lower refined gold volumes at Olimpiada, Blagodatnoye, Natalka and Kuranakh. At Olimpiada, Blagodatnoye and Natalka, a decrease in refined gold volumes mainly reflects changes in gold in inventory at the refinery.
     
  
• Volumes of ore mined amounted to 18,226 thousand tonnes, down 4% on the previous quarter, primarily reflecting lower ore volumes mined at Olimpiada.
     
  
• Volumes of ore processed decreased 7% to 10,698 thousand tonnes, compared to the previous quarter, primarily driven by lower processing volumes at Natalka, Olimpiada and Blagodatnoye.
  
• Recovery rate rose to 83.6%, compared to 83.2% in the fourth quarter of 2019, reflecting higher recoveries at Olimpiada and Blagodatnoye.
     Estimated gold sales amounted to $861 million, down 33% compared to the previous quarter, with an estimated weighted-average gold selling price of $1,592/oz (up 7% on the fourth quarter of 2019).
     
  
• As at 31 March 2020, the estimated net debt stood at $3,060 million, compared to $3,253 million as at the end of the previous quarter and $3,555 million as 31 March 2019. These amounts include the liabilities under cross currency and interest rate swaps related to RUB-denominated bank credit facilities and rouble bonds.
  

polyus.com/en/media/press-releases/...e-first-quarter-of-2020/

Zahlen für Q2/20

• Gewinn in Q2/20 um 63% gesteigert (y-o-y)
  
• Umsatz 1,2 Mrd. $
  
• Gewinn 684 Mio. $
  
• Produktionsziel von 2,8 Moz Gold bekräftigt
  
• Dividende 30% vom EBITDA
  

www.miningweekly.com/article/...higher-gold-prices-2020-09-07

gemessen an den Reservenschätzungen ist Sukhoi Log die weltweit größte Gold-Liegenschaft

• mit über 40 Moz Gold als Mineral Reserve
  

www.miningweekly.com/article/...rgest-gold-deposit-2020-10-22

Bin seit letzter Woche auch Polyus-Aktionär. Dividendenrendite von 4% und mit einem KGV von 11 bei 15% Wachstum ist Polyus deutlich unterbewertet! Über 60% Margin of Safety!

Jetzt schreibt meine Depotbank, dass "die Gesellschaft" eine Barabfindung in Höhe von 105 bis 120 USD pro Aktie anbietet.
Die Barabfindung gilt für gut 300 000 Shares und wird ggf. anteilig durchgeführt.

Wundere mich, warum der Kurs heute nicht auf 105 USD (rund 88 EUR) steigt. Soll man noch ein paar Stück nachkaufen und die für 105 USD zur Barabfindung anbieten? Wären mal flotte 8% auf wenige Wochen.

Hat da jemand eine Meinung dazu?

Du meinst sicherlich das hier:
polyus.com/en/media/press-releases/...mme-to-purchase-shares/

ja genau!

Wenn ich das so lese, ist das 0 Risiko. Überlege, ob ich den geplanten Kauf der 2. Tranche Anfang 2021 nicht jetzt schon mache und alle meine Aktien zur Barabfindung anmelde. Sieht so aus, als ob sich die News noch nicht rumgesprochen hat, sonst müsste der Kurs längst Richtung 105 USD (ca 88 EUR) unterwegs sein.

Warum kaufen die bei den Aktionären direkt zurück und nicht über die Börse?  

Ich habe mal für 101 Dollar nachgekauft und will die nachgekauften wieder verkaufen. Wenn ich keinen Kurs angebe, bekomme ich dann genau die 105 Dollar? Oder bekommen alle den gleichen Preis zu dem Kurs, wo die Aktienanzahl, die Polyus erwerben will, durch die Verkäufer erreicht ist?
Beispiel: Polyus will (beispielhaft) 1 Mio Stücke kaufen. zu 105 - 140 Dollar werden jeweils 200.000 Stück angeboten. Bekommen dann die für 105, 106, 107, 108 und 109 jeweils den angegebenen Preis? Oder bekommen alle die 109?    

das Unternehmen mit den größten Goldreserven auf der Welt - deutlich vor Newmont, Barrick oder Kirkland Lake Gold. Schon interessant, auch im Hinblick auf die Dividendenrendite.

tass.com/economy/1285083

Mit dem steigenden Goldpreis läuft POLYUS endlich wieder.
Da ist noch ne Menge Platz.  

Die Ankündigung des Rückkaufprogrammes ist vom 31.1.2022.  Immerhin 200 Mio. USD

"The maximum aggregate amount of the Programme is set at USD 200 million, which in any case shall not exceed 1.4% of the Company's share capital. "

mehr www.investegate.co.uk/pjsc-polyus--plzl-/rns/.../202201311651022053A/

Sehr hohe Reserven und relativ niedrige Produktionskosten

Mehr Informationen:  Präsentation Feb 2022

polyus.com/upload/iblock/036/202202_corporate-presentation_feb.pdf

Chart sieht positiv aus