Member Info for DavidGreece

I guess the cash burn is of concern here. Should have about £500k left and they'll need cash to progress. Looks interesting otherwise

Erm no.

Complete guesswork.

Yes MajorJV I'm sure it is for you to make your 2.20 entry back.

Daisan have to agree on that. I did point it out earlier as something to bear in mind but zero asset value is correct at this stage. At least you post factually and engage in discussion. Good to have people like you on boards.

Someone having a laugh here?

And? You're here for a quick trade. Seller is done (pending 1.75 confirmstion) this will level at appropriate mcap You're misleading

Oh dear.

SCAP now a buyer, all the best

Got you mate, sorry thought you meant net cash was £10m Net cash is anywhere between £2.5m and 3.3m I would guess but we're not far off. Seems your seller might be done

Where are you getting net cash figures from? s. As at December 31, 2015 the Company had cash and cash equivalents of $4.7 million and estimates to have sufficient working capital to fund its exploration and administration obligations for the next 12 months. Deduct cash burn and you have somewhere around £2.5-2.7m cash left...

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=OSU&ArticleCode=i60xxk4x&ArticleHeadline=Update_on_Exclusivity_Agreement_for_Potential_Sale_of_AkdjolTokhtazan_Project It's this that will be causing nervousness as it fell through, then again on the upside it hasn't been put to bed and could creep back up now you have the incenses extended too but just shows that you can put value on a sale with so many conditions to be met until it's done

And just to confirm mate I see the upside from these levels just don't agree with the 5p valuation. That'll be reflected when sale is approved and done. Some time away but then commodity prices also may help hopefully with an up turn.

Thanks Daisan I think you're mistaking dollars for pounds.....

It's not too early at all. There is a seller that's been accepted by those sensible here. You're retaliatory posts elsewhere were unecessary and I have only posted fact. Nothing else.

You don't have a sale. Not all cash is coming to you. You are still making a loss and you fail to remove cash burn of nearly six months from cash as Dec 15. I'm just pointing out the facts people need to be aware of and interested in valuations suggested. I suggest you read conditions of sale and dates, potentially could go into next year depending on conditions being met as they have a three month extension available. Good luck but it's not a done deal and cash burn would concern me at this stage. Loving hand to mouth isn't the answer

Asset value isn't with downturn. The key terms of the Sale and Purchase Agreement, which will be filed on SEDAR, are as follows. -- A deposit of $100,000, payable within 14 business days of signing the Sale and Purchase Agreement. -- Initial consideration of $7.75 million (less the deposit) payable on completion. -- The initial consideration is to be allocated as follows: -- $4,438,268 for the purchase of intercompany debt owed by MLD to Orsu -- $3,311,502 for the purchase of intercompany debt owed by MLD to Lero Gold Corp. ("Lero", the intermediate holding company for the Karchiga Project); -- $230 for the 94.75% interest in MLD held by Eildon Enterprises Limited ("Eildon", the immediate parent undertaking of MLD). How much are OSU actually getting given the above? How long till it take, seems October possibly longer and that's if conditions are met. Cash balance less than 2.7m is my guess. Just saying these little details matter hence market reaction with cash burn in addition we are no where near 5p or even current valuation level at this stage. I still await an apology ironic, respectful enough to do so or you going to keep avoiding it and not be humble enough to do so? NEVER judge someone's experience from the date they joined, this is naive and ridiculous.

Absolutely not, I am entitled to post as is everyone else. I came on following major and challenge his misleading posts. Have achieved that, he's gone but some of your still insist on continuing to post despite wishing you well. I am simply responding. So stop throwing silly accusations and leave it be. As for shorting? Yes that's why I posted the broker note suggesting 18p. Shows yours level of intelligence. Now leave LTHs to win and crawl back under. Let's not bring up your posting history

Both including Kagodai have extensive conditions and aren't near time. Outflows are about .8m $ a year so I still don't see where the 5p valuation is justified?

Deferred consideration of up to US$2 million based on 67% of relief obtained for corporate tax losses or recovery of VAT accumulated to the completion date by MLD -- The Transaction is subject to various significant conditions, including: -- Approval of the Transaction by shareholders by way of a resolution for the sale, to be proposed at an annual and special meeting. -- The Purchaser obtaining the requisite antimonopoly approval from the relevant Kazakh authorities (the "Antimonopoly Approval") -- The Company obtaining the formal consent to the change in ownership from the Ministry of Industry and Development (the "MID", the relevant Kazakh authority) which is required under Kazakh law (the "Consent"); -- The Company obtaining an amendment to the licences to delay commencement of production to the first quarter of 2019 (the "Amendment") -- the issuance or renewal (extension) of Technical Conditions for connection to the electricity grid and to procure the sufficient water supply for the facilities of the Project (including Technical Conditions for water conduit) -- If any of the Amendment, the Consent or the Antimonopoly Approval are outstanding and the Purchaser does not agree to extend the longstop date, the Sellers will repay the deposit to the Purchaser. -- The longstop date is October 8, 2016, but will automatically roll forward by a further a further three months if the only conditions not satisfied at that time are one or more of the Consent, the Amendment or the Antimonopoly Approval; the longstop date may also otherwise be extended by the mutual agreement of the parties. -- The Company will pay a termination fee of US$400,000 plus costs of the Purchaser up to an additional US$150,000 in the event that it terminates the agreement before Completion. -- The Sale and Purchase Agreement contains commercial warranties and indemnities from the Sellers. The Company will apply for the Consent as required under Kazakh law. Whilst the Directors are confident that the Company will receive the Consent and has obtained these in the past for previous transactions, the timing of the granting of such Consent is unknown and there can be no assurance that the Company will be successful in obtaining the Consent. Consequently, the Company will seek shareholder approval for the Transaction at its Annual and Special Shareholder Meeting to be scheduled for the second half of June 2016. Formal notice of the shareholder meeting to approve the Transaction will be provided in due course together with related shareholder documents including an information circular setting out the matters to be considered at the meeting.