Based on the case / rule of law / loan notes being extended / lawyers taking no fee no win.... The company was in the process of selling their share of the asset when the gov effectively confiscated in direct breach of international law signed between uk and Uzbek. Iro of time frames this is not going take more than two months to come to a decision.... It might take 3+ to write the judgment. Arbitration has definitely taken place and could well have started in feb. Either way I think we will have a decision before end of June.
I have seen a few postings about the decision being in the relatively near future, with several posting June. Calm down all! If Mr Hart, the "Expert Witness" for the Uzbeks is to be believed (according to his web posted CV), the Arbitration Panel met in Paris in May. We think that it takes 3 months for award, which means that the most likely time for any settlement would be between now and August. There is no reason to suppose, based on the history to date, that this will happen any faster than the last possible moment, although wishful thinking brings the decision to next week and at 60p or higher.... But I suspect that the Uzbeks will try to drag this out... so we should not expect things to happen too fast. I think we're going to see lots of ups and downs like the last days repeated through the summer. Not good for the old ticker, but the longer it goes, in my opinion, the better, as it shows the case is still running and has not been kicked out like MMT.
There are 94 days to the end of August and based on previous discussions and timescales mentioned, I would like to guess that there will be an outcome within this timescale. The outcome will be either positive or negative, who knows ........ but decision is very close and can come any day between the next 94 days. If anyone is thinking of investing in here, now is the time. These minor increases and decreases are now irrelevant, as when the next RNS arrives with news, the wait will end, and everyone will be all the wiser, richer or poorer. Only invest what you can afford to lose as a worst case scenario. GLA
Why would you expect anything different ? It went up yesterday for no reason so is therefore very likely to go down today for the same reason. It will continue to do this oscillation until there is some real news (which could, of course be months away).
They were indeed Sells given the sp at the time and, although the sp then went up, I believe that was due to the impetus and volume of Buys at the time so filling the Sell orders easily. I would agree that it makes most sense for it to be Darwin turning a profit on their holding - at the end of the day, their job is to lock in profit not gamble on the outcome. I expect, out of all the stock they have received, they'll sell (already have sold) nearly all to cover costs and make profit and they'll only keep a few for the actual judgement which stand them in for free.
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