Oxus Gold Share Discussion Threads

[jackington] 06/10/2015 12:34

Mr Shead has his house in order with contingencies in place for most/all eventualities. He made his statement the other day and his words were scrutinised to death by the various BB's, but it does't mean the result and the announcement would/will change in whatever time-frame they are due, it will come when it is ready. The positives are other parties are willing to fund this to the end and the statement to the Uzbeks is we are here until the end and beyond to collect, one way or another....

Good luck all holders, reward favours those with patience!

[the stigologist] 06/10/2015 12:33

For some short termers RS is apparently at fault here. I expect within weeks many will be writing him love letters thanking him for allowing them a nice tasty load up in the 3's...

fickle ? thats the markets for you

[pug151] 06/10/2015 12:32

Well read Ed!

[marmar80] 06/10/2015 12:32

Does Oxs Bod own any favour to Darwin for their support during the first years of arbitration case? Hmmm. Will Darwin sell or hold them against their own business strategy? Is the decision still imminent? If still very near, then we have another window open for further speculations. What does it mean to take control over the company? Takover?

I will rather hold my shares than sell them before the decison.

[the stigologist] 06/10/2015 12:30

Short term very oversold now as you would expect with thriple whammy (margin traders carried out / Darwin dump / RAB overhang)

[the stigologist] 06/10/2015 12:25

I would stick to reading what is said in the announcements rather than trying to look for hints or meanings.

err... followed by his interpretation of the hints and meaning...

In my book 'very near future' means days or weeks. Yes, some might interpret it slightly differently but in this context would you really use this term in an RNS when the decision was months away?

[edgein] 06/10/2015 12:25

"The Company, at its election, has the right to redeem prior to maturity one or all of the outstanding Loan Notes in cash at 105% of the par value (equivalent to GBP26,250 per Loan Note). In addition, the Loan Notes are redeemable in the event of a change of control of Oxus Gold"

So they can buy them back at a 5% premium should they somehow come into some money from somewhere or mysteriously have a change of control, whatever could he mean? lol

Regards,
Ed.

[wassapper] 06/10/2015 12:24

Why do people worry so much? What has changed?

The company expects news in the "very near future" which has not changed.

Any company needs cash to operate. If we found out they had run out of cash would RS not be sledged for that? He has a company to run.

Whatever and whenever the award it is unlikely that the Uzbeks will deposit a large cheque in the Oxus bank account the next day. RS needs the cash to run the company whilst they sort out the payment. It is all quite simple.

This is a buying opportunity with the fall.

[the stigologist] 06/10/2015 12:24

Edgein do you really need to explain that...

oh yes you do because we have some very thick punters and derampers here :-p

[loverat] 06/10/2015 12:23

Not sure if folks are not reading too much into this. The company said the decision is expected in the very near future and did not say otherwise in today's RNS.

The company will no doubt have their reasons on the nature of the fundraising and timing.

I would stick to reading what is said in the announcements rather than trying to look for hints or meanings.

In my book 'very near future' means days or weeks. Yes, some might interpret it slightly differently but in this context would you really use this term in an RNS when the decision was months away?

[edgein] 06/10/2015 12:20

I'm starting to think some are confusing the terms award and payment. RS said that he was confident that the company would be awarded fair compensation in the very near term. He certainly didn't say he was confident of the payment of the award or settlement very near term. Probably the reason why he didn't amend the AGM outlook statement is because it still stands and why we have a small loan agreement that can be cancelled and repaid by oxs at a small premium at any time!

Regards,
Ed.

[papillon] 06/10/2015 12:20

If you want to live somewhere warm, LH, then perhaps you could try Syria. Lots of cheap properties there and you wont need the potential OXS windfall. Though you need to be quick as ISIS (along with Assad, Russians, French & USA aeroplanes) demolition squads are busy destroying them.

[the stigologist] 06/10/2015 12:15

Just to help the 'hard of thinking'

Convertible Loan Note Placing Agreement

The Board of Oxus Gold is pleased to announce that it has today entered into a placing and underwriting agreement with Darwin Strategic Limited ("Darwin") for the issue of up to £1,200,000 (gross) zero coupon unsecured convertible loan notes ("Loan Notes") with warrants to subscribe for ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") attached ("Warrants"). The issue of Loan Notes under this agreement is at the discretion of Oxus Gold.

Up to £100,000 par value of Loan Notes may be placed every 4 weeks, for a maximum period of 12 months subject to, inter alia, the consent of Darwin in the event that between any two issue dates five or more daily volume weighted average price calculations are below 2 pence or unless the Company notify Darwin at the Company's discretion that it will not be issuing any Loan Notes (or Warrants) on the next relevant issue date. Loan Notes will be placed at a price of 90% of the par value of each Loan Note and Darwin itself will subscribe for any Loan Notes and Warrants that are not placed with investors.

The first Placing of £100,000 Loan Notes has occurred today and 190,476 Warrants have been issued, exercisable at 5.25 pence over the next five years.

The proceeds raised from the issue of Loan Notes will be used to finance the working capital of the Company.

[nat hart] 06/10/2015 12:15

Well what a little bombshell that was. The lack of further information or reasoning leaves me to think that something has happened or changed.

Why would he make that very bullish statement of 'very near future' if he knew he would need additional funding the following week?

Why has he not withdrawn the 'very near future' statement. He was criticised last year for being over enthusiastic on timing and here he appears to have done it again.

Do we need to prove our ongoing status or prove that we are solvent going forward?

Was it to let RAB out at a significant premium?

Mystified? More on the timing of the announcement than anything else.

Time will tell I suppose. Hey Ho Tick Tock

[makday] 06/10/2015 12:14

litho...stop panicking....

[the stigologist] 06/10/2015 12:13

Rotherham isn't too bad. Better than Hull. :-p

[lithological heterogeneities] 06/10/2015 12:10

I was expecting news this week/ next week after the "very near future" comment and knowing that RS tegretted giving a time frame last year.Now its back to months by the looks of it.After over 5 years of waiting i was getting excited at an imminent win and looking at properties in Cyprus.Now i am back to looking at renting in Rotherham.

[fatmattress] 06/10/2015 12:09

Sit back and relax. More to this than meets the eye

[tracy_moore] 06/10/2015 12:08

LH , sell now , you'll be a nervous wreck by the end of the day.

[edgein] 06/10/2015 12:07

LH,

Not at all. It gives them breathing space to sell any potential award or chase it up under the Uncitral rules. This funding is related imo to the timing of payment of any reward not the timing of any potential award itself.

Regards,
Ed.

[pug151] 06/10/2015 12:06

I agree Ed

[pug151] 06/10/2015 12:04

I agree Ross

[papillon] 06/10/2015 12:04

Based on the RUR experience (they were able to inform the market of when their UNCITRAL arbitration verdict would be announced almost 6 weeks before it was announced) the "very near future" comment from RS could mean that the OXS UNCITRAL arbitration verdict could be issued anytime from mid December onwards. Probably in 2016?

[edgein] 06/10/2015 12:04

Wow what an over reaction to a small funding to cover us between any potential award and its sale or payment. Conversion price at 4.6p or 5 day average if by some reason we may be above that amount. Warrants at a premium exercise price of 5.25p that add some more cash when converted. This small £1.2m is on reasonably good terms, could have been discounted and not set at 4.6p. The 10% fee looks about right too. Nout has changed. Dangerous to trade this before the arbi result, I've not sold a single share and won't until I find out what happens very near term.

Regards,
Ed.