Oxus Gold Share Discussion Threads

[dave444] 18/12/2015 19:31

And what contribution did you make to misinformation today?

[lithological heterogeneities] 18/12/2015 19:29

Well its been 1 year,10 months and 28 days since OXS first said the Arbitration decision was expected "during 2014" so its hardly surprising is it.

[dave444] 18/12/2015 19:22

A lot of clowns turning up!

[skidaddle] 18/12/2015 19:20

Like this guy.

"Florentino Feliciano 1928-2015
Sebastian Perry • Wednesday, 16 December 2015 (Yesterday)

Justice Florentino Feliciano of the Philippines, one of Asia’s most distinguished international jurists and a well-known ICSID arbitrator, has died at the age of 87.
"

I wonder if he had any outstanding cases.

It's a farce.

[kcowe] 18/12/2015 18:12

three to fifteen years lol.......imagine that.

[donpatrol] 18/12/2015 17:59

Any point in not wanting to be out over the weekend since If the parties agree on a fast-track arbitration, cases can be decided within a few months.
if not then they may need between three and fifteen years to resolve a dispute, sometimes even longer.
Now the fast track option doesn't look like its going to happen.......

[stonefold] 18/12/2015 17:59

The proposed winding up of RAB was known but RAB shareholders only voted yesterday to confirm the new investing policy.



From various RAB RNS's
If 100% of RAB's NAV is 7.48 p per share
And RAB's total number shares is 63,987,761
That gives 100% of RAB's NAV as £4,786,285

If ox is still 15.1 % of RAB's book value
Then the ox part of RAB's book Value is £722,729 ( 15.1 % of £4,786,285)

If RAB still has 55,139,644 ox shares (as of 18-11-2015)
Then for RAB's accounting purposes, the implied realisable value for RAB's ox shares is 1.31 p per share?

Which makes RAB a risky but interesting 6 month investment.

[pennyfalls] 18/12/2015 17:31

Why thank you Litho
One day I aim to do a full synopsis on your name

[pennyfalls] 18/12/2015 17:30

It doesn't really matter - apart from it's just another potentially massive drag on the share price.
...which probably erases opportunities to top slice much higher, but raises opportunities to get in lower, if that's what you want.

Has no bearing on the end result - although if RAB hold to the4 very end - and it's a win, there's going to be one HELL of a stampede to try to sell hunderds of millions of shares. (Others included)

I'm just hoping that it's over soon..and it all adds to it having a very wearing effect over time

[lithological heterogeneities] 18/12/2015 17:28

well that's it then...back to sleep.

[lithological heterogeneities] 18/12/2015 17:28

penny

excellent analogy. well presented. could not have put it better.

[pennyfalls] 18/12/2015 17:24

The surprise is that when you're stood in a wall defending a free kick, you prepare yourself for the ball hitting you, it's expected.

But when it actually blasts you in the goolies and you're rolling around on the floor, it's still a surprise!

We knew about it but had forgotten with other stuff going on - and probably believed that this would be over by now.
It adds to the never-ending effect of it all.

[pug151] 18/12/2015 17:19

This RAB decision and timing has been widely discussed over the last few months what is the 'big surprise' ?

[pennyfalls] 18/12/2015 17:16

It will be interesting now to see whether RAB hold on (promising if they do)..although to be honest I'm way beyond being interested, more suffering chronic battle fatigue in the war of attrition...
and just want putting out of my misery

[lithological heterogeneities] 18/12/2015 17:15

56m shares at £1/share should help out RAB :0)

[pennyfalls] 18/12/2015 17:09

So, we'll either have another monumetal drip drip effect to the end , or some large chunky sells on rises, or one hell or a meaty sell at the end.

Cue Mr Shead for another "very near future" comment

[lithological heterogeneities] 18/12/2015 17:06

RAB have until 01 JUL 2016 to sell.

[pennyfalls] 18/12/2015 17:04

But in Oxus Financial Temporal meaning, this may not be within the "very near future!"

There's more twists and turns in this than a whirling dervish..

Please end soon God, pleeeeeease!!!

[pennyfalls] 18/12/2015 17:01

July 1 , 2016..
Hmmm Looking better..
shouldn't you be in Lanzarote Dave?!

[stonefold] 18/12/2015 16:58

RSS Notice of EGM
Released 07:00 27-Nov-2015

RNS Number : 1117H
RAB Special Situations Company Ltd
27 November 2015


"..........

4) Implementation of the New Investing Policy

The Board has considered the nature of the Master Fund portfolio and the resources needed to execute the New Investing Policy, if adopted. The Board has also considered the Investment Manager's detailed knowledge and status of each of the Master Fund's investments, and the strategy to realise a sufficient amount of the Master Fund's investments in an orderly fashion for the purposes of meeting the redemption of the Existing Investment, together with the Investment Manager's knowledge of the natural resources sector. Taking all of this into consideration, the Board believes that the Investment Manager has sufficient experience to manage the realisation of sufficient assets of the Master Fund in order to meet the redemption of the Existing Investment pursuant to the New Investing Policy.

Shareholders should be aware that risks and uncertainties will apply to the implementation of the New Investing Policy. In particular the timing and quantum of the realisation of sufficient of the Master Fund's investments in order to meet the Company's redemption of its Existing Investment, and prevailing market conditions, may result in such investments being realised at amounts below the latest reported net asset values.

.............."

Edited as CuFeS2 beat me to it.

[cufes2] 18/12/2015 16:58

2.2 Board Recommendation

Following discussions with representatives of certain major Shareholders and the Investment Manager, the Board believes that a majority of Shareholders will resolve to vote (a) against the continuation of the Company as an investment company; (b) for the adoption of the New Investing Policy; and (c) will ultimately subsequently vote in favour of a voluntary winding up of the Company. In that regard it has prepared the financial statements as at 31 December 2014 and 30 June 2015 on a non-going concern basis. The current NAV calculation incorporates this basis of accounting.

The Board has also considered the size and ongoing expenses of the Company, and the continued performance of the Company's Existing Investment.

Taking these matters into consideration, the Board therefore unanimously recommends that Shareholders vote against Resolution 1 and in favour of Resolution 2.

3 New Investing Policy

The New Investing Policy, the adoption of which is conditional upon Shareholder approval, includes:

· The Company will not make any new investments in the Master Fund;

· Redemption of the Company's Existing Investment on 1 July 2016; and

· After realisation of the Company's Existing Investment (either in whole or substantially), a return of capital to Shareholders.

Full details of the New Investing Policy are set out in Part II.

. . .

Part II - Proposed New Investing Policy

Investing Policy

Investing Strategy - Asset Allocation - geographic focus and sector focus

The Company's sole investment (other than in short dated cash or near cash equivalent securities) is 100 per cent. of the Sterling Guernsey Share Class of the RAB Special Situations (Master) Fund Limited (the "Existing Investment").

The Board will serve notice on RAB Special Situations (Master) Fund Limited to redeem its Existing Investment on 1 July 2016.

Assets or companies in which the Company can invest

The Company will not make any new investments in RAB Special Situations (Master) Fund Limited (the "Master Fund"). However, this will not preclude the Board (in its absolute discretion) from making investments in short dated cash or near cash equivalent securities.

This will also not preclude the Board (in its absolute discretion) from entering into any contract or other arrangement with any third party to realise all or any part of its Existing Investment.

Strategy by which the investing policy will be achieved

It is anticipated that RAB Capital Limited (the "Investment Manager") will manage the realisation of sufficient assets of the Master Fund in order to meet the redemption of the Existing Investment in an orderly manner.

The Board may decide to appoint independent advisers to assist in the execution of the New Investing Policy, including, but not limited to, investment banks and stockbrokers.

Whether investments will be active or passive investments

Whilst the Investment Manager will seek to realise assets in the Master Fund sufficient to redeem the Existing Investment, the Investment Manager will continue to assume a proactive approach to every investment held by the Master Fund.

The Directors will actively manage the Company's other investments, which principally consists of cash and cash equivalents.

Holding period for investments

The Board will exercise all legal rights of the Company in such manner and on such timescale as the directors of the Company see fit, with a view to ensuring that returns to Shareholders are maximised within a reasonable timeframe.

Whilst the Directors anticipate that the Investment Manager will seek to realise the investments in the Master Fund in order to meet the redemption of the Existing Investment within the prescribed timeframe, given the daily traded volumes of certain of the Master Fund's investments, it is expected that certain of the positions may potentially take a period of time to realise, assuming that there is no significant change in market conditions. In addition, for those investments held by the Master Fund that are in companies not listed on a stock exchange, it is anticipated that the Investment Manager will consider all available options in which to realise such investments.

[brewsters_millions] 18/12/2015 16:56

So are we saying the share price will drop as the RAB shares are off loaded in the market :(This share has really tested my patience.Ohh well....it may happen in the very near future...maybe before the new year

[dave444] 18/12/2015 16:53

The 6 months is part of the wind up process- so calm down!