By John Helmer in Moscow Analysts at Moscow’s Renaissance Capital reckon Russian asset values are priced below bargain basement. A typo in the lead cannot take the glister off Renaissance Capital’s fresh report on Russian gold buying opportunities. The report, by analysts Rob Edwards and Andrey Krupnik, is entitled “CIS Gold and Silver: A Golden […]

by John Helmer - Friday, September 19th, 2008
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By John Helmer in Moscow The share price of Polyus Gold started tumbling on the Moscow exchange even before the votes were counted at today’s Annual General Meeting of shareholders in Moscow. At the Moscow bell, Polyus was down more than 3% on the day to $60 per share. Since May 21, when the share […]

by John Helmer - Thursday, June 26th, 2008
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By John Helmer in Moscow Russian largest silver and third largest gold miner, Polymetal, goes back to Nesis family. Suleiman Kerimov finally did what he was always expected to do with Polymetal, Russia’s principal silver miner — he has sold out. The move was confirmed in a Monday morning press release from one of the […]

by John Helmer - Monday, June 16th, 2008
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By John Helmer in Moscow Co-owner of Polyus Gold Mikhail Prokhorov and chief executive Evgeny Ivanov are planning a roadshow this week to answer questions from minority shareholders. The presentations have been scheduled two weeks before the annual general shareholders meeting of the company, Russia’s largest and most valuable goldminer, due on June 26. Prokhorov […]

by John Helmer - Monday, June 9th, 2008
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By John Helmer in Moscow After rejecting a share-buy by a Potanin ally, Prokhorov makes a counter-bid to start new share price spiral. The end of Sherlock Holmes came when he and his greatest adversary, Professor Moriarty, wrestle at the cliff’s edge above the Reichenbach Falls, in the Swiss Alps. Locked in combat, they take […]

by John Helmer - Monday, June 2nd, 2008
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By John Helmer in Moscow The FSA investigation of Polyus Gold’s affairs hears duck quacking. Last February, Interros, the Moscow asset holding of Vladimir Potanin, was getting ready to go to the High Court in London to enforce Potanin’s rights in KM-Invest, a special purpose vehicle Potanin controlled with disgruntled partner, Mikhail Prokhorov. At stake […]

by John Helmer - Wednesday, May 28th, 2008
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By John Helmer in Moscow The fight between shareholders Mikhail Prokhorov and Vladimir Potanin over the future of Polyus Gold, Russia’s leading goldminer, escalated angrily at the board meeting on May 21, when chief executive Evgeny Ivanov called for a vote to eliminate independent director, Lord Patrick Gillford, from the slate to be submitted to […]

by John Helmer - Thursday, May 22nd, 2008
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By John Helmer in Moscow Independent director Lord Gillford effectively warns Polyus Board against potential asset stripping plan while emphasising his independence of the warring factions. Lord Patrick Gillford, the influential independent on the board of Polyus Gold, Russia’s leading goldminer, has warned the board that the company is in danger of an asset stripping […]

by John Helmer - Tuesday, May 20th, 2008
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By John Helmer in Moscow Russian boom creates beauty contest for European steel investors. The rapid acceleration in iron-ore and coal costs can be camouflaged on the books of a vertically integrated steelmaker, who supplies his own raw materials to his own blast furnaces. But mineral cost inflation has begun to hurt, even in integrated […]

by John Helmer - Tuesday, April 22nd, 2008
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By John Helmer in Moscow Poor performance and uncertain prospects dog Russian steel and mining magnate Mordashov and management reshuffle not seen as improving the situation. Severstal, Russia’s third ranked steelmaker, is far from the Titanic, but seat-changing at the steel and mining group has failed to convince steel industry observers and the Moscow stock […]

by John Helmer - Wednesday, April 16th, 2008
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