Glad you slipped a reference to OXS in there, you'll have the BB harpies on your back in a jiffy for o/t! You seem to have had a very interesting time in your investments, and it's true there must be untold resources yet to be developed because they are situated in difficult geopolitical areas. There were rumours that the US went into Afghanistan partly because there may be tremendous mineral opportunities in the mountains there. As for any eventual payout here, I'd personally prefer any cash to be distributed in full and wind down the company - it may sound very harsh, but I'm not sure I'd trust the judgement of a BoD who saw fit to attempt to do business in such an obviously corrupt country such as Uzbekistan.
, I have takin my position last week and by end of December I'm predicting 7to10p.
Jeremiah, yes it is me from ADVFN. I had an account for many years here but evidently never used it: I forgot the password. I have been invested in Iran for the last 6 years or so, but the company got a cash offer from an Omani businessman with a PhD from HerriotWatt University. Not a great story: the mine (a zinc mine) had $19 Billion worth of economically and technically recoverable metal (Lead, Zinc, Copper, Silver all in both Oxides and Sulphides) and had passed its BFS but was only valued at, get this, $1m by Grant Thornton. The capex requirement was $1.8 bn and the mine would have produced 400,000 tonnes of zinc p.a. (5% of the world's demand) for the next 40 years. The biggest problem were the Australian directors' lack of understanding of Iran. I was hoping for the overburden to be removed by bunker busting bombs, but it didn't happen. Oh yes, the Ahmadinjad Govt. impaired the value by revoking the agreements (4 months after Khandiza was expropriated) right when Zinc peaked. The Iranians got the mine right at the peak without having to pay compensation (they are cannier than the Uzbeks). I came out with a reasonable profit (nobody else was interested in Iran at the time - and you can understand why) and the company, quite by chance bought a phosphate project (offshore Namibia) which the Omani man will clean up on because it unexpectedly turned out to be very good and saved me from losing money. He paid $33m cash for the whole company (including the Iranian zinc mine) and will now own a company generating revenues of $600m p.a. in a few years' time (with relatively low capex and opex, too) and that is without bothering to develop the Iranian zinc mine. The phosphate project passed the DFS so was completely de-risked. Anyway fingers crossed for Oxus to come good. Looking forward to having a $1.2bn war chest here to acquire new projects. I expect South Africa is Mr Shead's favoured location, but I can't say I like the fiscal regime there. Anyway it should be interesting to see where we end up after the arbitration case.
Hi jaf, hope you're well and recuperating previous losses. I'm quietly confident that BMR will return my funds lost elsewhere. I also think it unlikely that there won't be a good profit from these levels in OXS, whether it be a 3 bagger or 30 bagger. All the best.
You and me both ! Please don't mention ANGM again - I have to go into therapy every time I hear the name mentioned.
Aaargh! Just remembered Greenland (ANGM) what a debacle that was, lost half my portfolio. :-(
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.