Petropavlovsk swung to a net loss of $24.8 million in the first half on rising costs and lower sales but declined to give a forecast for the full year.
Petropavlovsk Mining News
Petropavlovsk's largest shareholder, who is calling for an overhaul of the board, plans to sell the company's stake in an iron ore unit and draw up gold sector deals.
Petropavlovsk also said its board wanted to know the identities of the parties behind CABS and Slevin, which together own 9.1 percent of the company.
The London-listed firm is near the end of a quest to bring on technology to boost profits from the treatment of refractory gold ore.
For the second time in a year, London-listed miner Petropavlovsk Plc is in the middle of a shareholder coup to throw out the board and revive its fortunes.
The appointment comes less than a month after Kazakh businessman Kenges Rakishev told Reuters he wanted to bring back co-founder Pavel Maslovskiy as CEO.
Billionaire Viktor Petropavlovsk declined to comment.
Major producers are cutting down production as they postpone or sell off costly operations.
One mining company says that zeppelins are its best transportation option.