Oxus Gold Share Discussion Threads

[valkyrie1] 16/10/2015 15:53

Agree Nat. Thanks to Rurelec for teaching us how not to go about things.

[the stigologist] 16/10/2015 15:41

There is a 'carve out' for supporting existing investments.

[nat hart] 16/10/2015 15:40

From what people say he was very relaxed about the CLN's at the AGM and so negotiations could well have been at an advanced stage even before.

What I do think is important is that we are now complication free and RS could well already be in talks to sell any award at a discount as he hinted at at the AGM. His negotiating power greatly improved without the encumbrances or lack of working capital that we might have had.

I don't think it necessarily means we have to wait longer as I am sure he said at the AGM that this would all be finished with one way or another by December.

So in my opinion news could still come next week or next month as he has already stated.

We will not however be bullied in the way that RUR were bullied into accepting a lesser settlement for any reason as I see it. Everything is in place and RS is playing our hand just so well.

AIMO NAI DYOR

[giant steps] 16/10/2015 15:39

O/T

Attn: The Stig

If that was the case then RSS should have been continually going
for cash in the last few years.

Can you explain why they made a new investment DEC 2014 ?

05 JAN 2015

[giant steps] 16/10/2015 15:37

grbaker, dealings on new shares is 22 OCT,
so any news before will leave them waiting !

[the stigologist] 16/10/2015 15:35

GS they had made commitments to 'manage' the process dating back several years. Within that process to treat everybody fairly they would have been required to meet responsible professional management processes.

i.e. it would have been discriminatory for those who stayed in that all the liquid positions were sold early and the illiquid positions left in the fund until the end and then sold in a fire sale at give away prices. Obviously we won't know the ins and outs of those thresholds/ratios but you can bet they will be present.

[giant steps] 16/10/2015 15:32

The Stig, it's a vote in December, no other deadline.
Selling can be over many months/years - see TAU as
an example

[the stigologist] 16/10/2015 15:28

For those of you who are unaware in their August Half Year results statement RAB Special Situations said they would be having a meeting before end of the year to authorise wind down of the Fund.

So they have their own deadline and could not wait until November/December to get clarity/liquidity

Future of the Company and going concern
As mentioned in the 2014 Annual Report, the Board of Directors of the Company (the "Board") will put forward proposals to Shareholders at the end of 2015 to enable Shareholders to vote on the future of the Company.

The Shareholder vote shall be proposed as an ordinary resolution and accordingly will require the approval of a simple majority of the votes cast at the relevant Extraordinary General Meeting to be passed. If a simple majority of Shareholders vote against the continuance of the Company as an investment company, then RAB Capital Limited and Philip Richards (who together hold shares representing approximately 27.2% of the voting rights of the Company) have confirmed that they would not vote against any resultant proposals put forward by the Board to wind up the Company and/or liquidate its assets that require a special resolution.

The Board believes that the Shareholders will resolve to voluntarily wind up the Company at this point. Therefore, the results have been prepared on a non-going concern basis. This reduced the 30 June 2015 net asset value ("NAV") by £541,000 (0.85p per share) (31 December 2014: reduced by £870,000, 1.36p per share), being the estimated expenses from the period end date to the anticipated date of wind up, including the costs of wind up itself.

[grbaker] 16/10/2015 15:21

Good points Edgein/pug151.

I'm probably just being too cautious.

I'm holding from a little over 2p (small holding though), so I'm happy to hold and wait...

[pug151] 16/10/2015 15:21

Grbaker - i don't think the tribunal trio care one bit how odd it looks -they will release when they are ready could be the next 5 minutes , Monday morning or next month. Any time in the very near future.

[edgein] 16/10/2015 15:20

Grbarker,

On something as substantial as $12m I doubt that these negotiations happened over night. I would guess RS may have been in negotiations as far back as the AGM and would explain his relaxed attitude towards note holders. Taking shares at 100% premium wouldn't have been done lightly by either Trident or RAB, certainly not done in a week or two. Therefore not relevant to the timing of the decision imo, although very useful for the CLN holders to have allocated shares rather than CLNs should we receive an award in the very near future.

Regards,
Ed.

[snake] 16/10/2015 15:16

right so let's say 2,4 to 3p , i can accept that.
Now then go back to my original post at the beginning of all this saying that the average conversion price was not 8p and hey bingo!!!
We got there in the end!

[grbaker] 16/10/2015 15:14

Here's a quick thought...what do people think about today's excellent announcement and the possibility that news on the arbitration result may take a while longer to appear?

It's basically occurred to me that if we got the result e.g. Monday, it might look (or appear, perhaps,) very much like the CLN holders had some kind of info on the result!

I know it's due in the very near future; but today's announcement may mean we've got a few more weeks to wait IMO.

I'll be happy to be wrong, of course!

[maytrees] 16/10/2015 15:14

TX tburns - I agree

[edgein] 16/10/2015 15:13

Ah you're talking about trident, well their interest will be similar to that of RAB, based on 2.16p and then the period from March to October which was for a large period around twice that. So at a guess somewhere between 2.4 and 3p per share. Then the CLNs at 8p per share for the vast majority of shares. Doesn't explain how you arrived at 1-1.5p earlier today though. Their average would be at least 6p. Ah hold on, I've just received reports from the commandant of the stasi that under interrogation or integration someone cracked and confessed to making it up as they went along.

Regards,
Edolf.

[the stigologist] 16/10/2015 15:08

The long term resistance level at 4.625p is proving a tough nut to crack but with this news today and any press comment over the weekend added to the Golden Cross we may be perfectly set up to take that resistance level out next week.

[tburns] 16/10/2015 15:07

Its a buy if you look at the spread at the time, maybe Goo Goo is getting in on the act ahead of an announcement

[giant steps] 16/10/2015 15:07

Thanks Stig, on radar next week

[the stigologist] 16/10/2015 15:06

Golden Cross should be confirmed at close today so anybody perusing charting package output over the weekend will probably get alerts then in time for Monday open.

[snake] 16/10/2015 15:04

"They cannot claim interest twice for the same shares for the same period! :)"

This is getting ridiculous. seriously just read the RNS
This interest is from 2012 and will be worked out on a 6 monthly basis from that point.


'22,598,914 Ordinary Shares have today been issued to Trident in lieu of accrued interest for the period 6 July 2012 to 15 October 2015. These shares were issued using the same formula referred to above and in accordance with the terms of the Notes.'

[maytrees] 16/10/2015 15:02

Moving on...is that 500,000 trade at 4.22 a buy or sell?

[deanroberthunt] 16/10/2015 15:02

thejaba

no, he's on a mission to save you from yourself

[edgein] 16/10/2015 15:00

They cannot claim interest twice for the same shares for the same period! :) Most of the previous interest shares RAB have already disposed of. I guess they'd always known they were gonna get the significant allocation on conversion. Who knows in the very near future these shares and their interest shares could be well in the money.

Regards,
Ed.

[snake] 16/10/2015 14:59

Really lols, "for each 6 month interest period" means just the last 6 months does it, and not the full term since 2012?
interesting .

Rab only gets 3 mill Trident gets 22mil