Oxus Gold Share Discussion Threads

[giant steps] 03/12/2015 08:34

O/T

Folk are reminded to keep it polite, remain on-topic

The thread is moderated to keep this focus

#29597 - moderated

[cufes2] 03/12/2015 08:34

If anyone is seriously interested in a forensic examination of the accounts then read the full accounts on the OXS website . . . However this is a gamble on an arbitration decision that is being funded on a no win no fee basis . . . The company obviously has some operating costs with no real income . . . but the reason for investing / gambling here is not about the P&L or balance sheet IMHO . . .

[giant steps] 03/12/2015 08:31

EDF, perhaps you are now starting to confuse account
reporting in dollars and funding in sterling. This
talk of admin costs is simply small noise in the
grand scheme of a compensation claim not less than
400 hundred million dollars.

[luckyman3] 03/12/2015 08:29

I believe they run two offices one in London and one in Malta.
Wages for a couple of secataries and a few directors plus expenses company cars etc.imo

[netcurtains] 03/12/2015 08:29

Buyers of this share...IMHO should be people who have about £500 to £3000 in risk money. They should buy the share (by an ISA) and lock the certificate away for a few months (perhaps years) and wait events. Either you lose the money or you make a big return. Its that type of share.

[evil_doctor_facilier] 03/12/2015 08:27

another outright lie. and i will now post the converstion on this thread to prove it.

[blueblood] 03/12/2015 08:26

I would imagine partly to get going concern sign off on year end a/c's and most of it may still be in bank.

[pug151] 03/12/2015 08:26

Interesting i posted at rugby - can we assume you using both usernames - only another 20 minutes and i will be at my desk then filter on.

[evil_doctor_facilier] 03/12/2015 08:23

Thank you for that information clearly already in the public domain.
If you read thecompnay 6 month reports you will see that they spent 500k in the last 6 months.So on that basis the money is being spent and is intact needed.

I think the debate is centered on what exactly a company just waiting a result with no operations would need to spend 100k a month on?
Any ideas?

[giant steps] 03/12/2015 08:19

The agreement re Darwin is very clear :

Up to £100,000 par value of Loan Notes may be placed every 4 weeks,
for a maximum period of 12 months


It DOES NOT say that Oxus requires £100K per month.

As per previous agreement one imagines it will be partially used.

[evil_doctor_facilier] 03/12/2015 08:17

Last time you posted at me pug you were busy telling me how wrong i was about rab selling shares back about a months ago, you have a front bigger than Brighton acting the high and mighty around here.

[pug151] 03/12/2015 08:12

I think when i get in front of my pc i will filter a few more.

[giant steps] 03/12/2015 08:04

Folk should recall the company still has a tiny outstanding debt
re the drill rig. It is fortunate that the debt/interest is
rolled every year but one imagines that in order to sign-off the
accounts Y/E Dec the Darwin facility is there as a means of
strength and to present a going concern.

In addition, folk should be grateful the CLNs (huge L/T debt)
were resolved with the principal debt taken as equity at 8p.

Events should soon overtake the nonsense that is starting to
appear on this thread.

[giant steps] 03/12/2015 07:59

#note4gs - a facility that was half utilised

[deanroberthunt] 03/12/2015 07:47

Sweet dreams are made of this, who am I to disagree .....

when's this big ship load of money coming in from AZBEK ? imminent still...

as the Smiths sang "How soon is Now"

[cufes2] 03/12/2015 07:27

Anyone who is seriously interested in the financials can find a more detailed breakdown of the operating loss and thus costs in 2014 here . . . . . .

[pug151] 03/12/2015 07:03

thanks Pap for that - a very nasty troll type poster take a look at his profile ihave filtered him

[papillon] 03/12/2015 01:37

They did terminate the previous EFF with Darwin on the 28/1/15, so they did go a number of months (around 8 months) without any funding so perhaps the £100k is not so outlandish considering that period without money coming in from Darwin.

[papillon] 03/12/2015 01:32

If you look at the latest half yearly report, Rugby, you will see the following comment in the notes to the a/c's

"10. Trade and other payables

Trade and other payables includes an amount of $6.15 million due to the litigation funder which will only become payable upon receipt of a settlement in respect of the UNCITRAL arbitration proceedings against the Republic of Uzbekistan."

So the US$6.15m received from Calunius has been included in the total trade payables of US$6.598m. It just the way the a/c's have been presented. Calunius have definitely paid all of OXS's arbitration expenses on a no win, no fee basis. Calunius get back their fee + their share of the damages (whatever their share is) if OXS win their case and are awarded damages.

[rugby] 03/12/2015 01:19

Churchill who are paying their own legal costs and are actively engaged in the depute and arbitration process (rather than just waiting for the outcome) have their lawyers fees at just
just 228k for 6 months.
They also have director fees at 218k.
those legal fees are not massively above what oxs have as spent in their accounts,who are allegedly on a no win no fee arrangement?

I think that the issue needs clarification pap. why would the amounts paid by calunius be on the oxs accounts? Surely if so,the accounts would show the calunius payments as income if this was the case to balance the accounts?
In saying that oxs have not had 6 million( have they???) in the last few years, so it seems they must have been fully funded???

If they are , that brings me back to my original question, what are they spending 100k a month on?

[papillon] 03/12/2015 01:13

Rugby. I'm presuming that Calunius are funding all of the arbitration costs. It seems that the total arbitration expenses contained in the OXS balance sheet match up to the circa US$6m that Calunius are providing. So it does appear that OXS are NOT funding any part of their arbitration expenses and that Calunius are footing the whole cost of arbitration.

[papillon] 03/12/2015 01:07

Yet the final results RNS dated 19/5/14 says admin expenses for 2013 were US$1.195m and not US$1.492m. Also arbitration expenses for 2012 are shown as being US$3.107m.

So that is US$474k + US$2.135m + US$3.107m = US$5.714m for the arbitration expenses for 2012-2014 inclusive. I presume Calunius are footing the bill for these arbitration expenses.