Member Info for icalvert

Net debt update (and other financial nuggets) gives a good idea of costs. Let's hope Q1, 2015 is warmer than Tibet!

D'oh, I guess Company Chairmen globally should be better at controlling family than the rest of us, English?

Thanks for link I assume there will be get a Q2 financial update shortly.

For June, 170kg -200kg for terrible to amazing production scenarios seems reasonable to me. Certainly peak production this year might well reach 200kg: but time will tell.

Are Azeri gold production figures for May due tomorrow?

Doze, sadly that sensible compromise maybe too late after withdrawal of VCT status. Indeed I believe our human Chief Executive Lucius suggested it to HMT/HMRC in January!

Chasf As a basis for appeal against HMRC withdrawal of VCT status, as a small investor I think it is right to question the application of the 15% rule in any form to OT1 and OT3 in 2014 (i.e. given the trusts age since launch). I do not believe Parliament intended in 1995 for VCT status to be withdrawn after the rights issue support of such a successful small business as Scancell. I have just posted a slightly amended version of the following paragraph on the ft.com website. I believe Lucius Cary reached broadly similar but not exactly the same views many months ago. We shall doubtless see when the details of the appeal are made public or there is a judicial review. As an investor, since launch, in OT3, I believe HMRC has acted without due propriety. The apparently clear concentration avoidance rationale for the 15% rule in the early years of a VCT life is less clear for a limited life (small business) VCT near the end of its life. The inevitable failures mean that after (say) ten years there is inevitable concentration in the portfolio that remains and increased concentration may be the best use for investors cash.. I do not believe Parliaments (1995) intention was that VCT status should be withdrawn if there was 15%concentration (however defined) after (say) 10 years: primarily VCTs are about encouraging investment in small business.

HMRC revoking of VCT status for OT1 and OT3 feels improper to me. As an OT3 investor who attended the July 3, 2013 Oxford Technology AGM, I am struck by how dominated OXT(OT1) assets were/are by Scancell. . However near the end of a VCT life after an inevitable number of failed investments the largest remaining investment may well be over 15% of the remaining portfolio value. Perhaps OT1(OXT) and OT3 (OTT) should be treated differently? I have not researched Hansard, which I trust has been scrutinised carefully by numerous HMRC lawyers, but on the last years of the John Major government my foggy feeling was that the intention was to encourage investment in small companies as OT has done for 15 years.

HMRC revoking of VCT status for OT1 and OT3 feels improper to me. As an OT3 investor who attended the July 3, 2013 Oxford Technology AGM, I am struck by how dominated OXT(OT1) assets were/are by Scancell. . However near the end of a VCT life after an inevitable number of failed investments the largest remaining investment may well be over 15% of the remaining portfolio value. Perhaps OT1(OXT) and OT3 (OTT) should be treated differently? I have not researched Hansard, which I trust has been scrutinised carefully by numerous HMRC lawyers, but on the last years of the John Major government my foggy feeling was that the intention was to encourage investment in small companies as OT has done for 15 years.