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Even a few of our detractors have now come around
Lucian Miers warns me that sentiment could change very quickly and so he’d be nervous of shorting Petropavlovsk (POG)at 1.52p with a £60 million market cap. But this company could be a zero for one of two reasons. Let’s start with the biggest shareholders:
A "private & confidential" KPMG report commissioned by the new managers of Petropavlosk (POG) has, as you can see below, been published in full by the company and claims that its founders Peter Hambro and Dr Pavel Maslovskiy and associates may have taken out $302.4 million to which they were not entitled. But Hambro says that he and Maslovskiy (currently incarcerated in a Russian jail) were not given, as promised and as the company says they were, a chance to comment on the report which,he says, is riddled with innaccuracies.
A few readers have been asking about Russian gold miner, fully-listed Petropavlovsk (POG). As the dust starts to settle after the latest round of corporate shenanigans, there are enough signs for me to give this outfit a very wide berth...
