Member Info for oxygen

The Interesting dynamic now as we move into a long weekend is whether the Active participants here hold sway over the SP against the Passive Investors who will hope nothing untoward happens whilst they are locked out over Easter. Prudence indicates Risk Off for preservation of capital, and those moves will likely be underway already !

“ Have you also considered that an Audit is mostly for investor sentiment”…hmmm. I think you’ll find it is rather more fundamental than that ie. having your accounts verified as accurate upon which the whole Company valuation is secured !

Some light relief then ……let’s congratulate Ian ****erill, former Chairman of POLY in his new role as Non Exec. at Cornish Lithium…..ok they’re not yet mining and secured £12m via Crowdfunding support so not what he’d been used too, but at least he can get to the location !

We all hope for an early cessation to this conflict but don’t expect Sanctions to be lifted on Russia for a very long time. Ukr has provided the West with the excuse to finally go after Russia and force Putin’s removal. Sanctions won’t be lifted unless / until Russia returns illegally gained territory ( unlikely ) Unfortunately POLY is an innocent victim here and needs to plan accordingly, including for tighter Financial sanctions as the months drift on.

Nice thought albeit both India & China , to name but two are happy to buy heavily discounted hydrocarbon cargoes from Russia ( India reportedly buying 6m barrels in the last 4 weeks alone) . Thus the West’s sanctions hurt ( a lot ) but won’t cripple Russia. Personally I’d focus attention on Kazakstan and Liz Truss’s comments that sanctions imposed on Russia / Belarus aren’t off the table for other States seen to be complicit with Putin, and of course Kaz. being ex USSR / NATO relies heavily on its neighbour , witness the January violent protests that VP has yet to draw his favour on . You’ll also note Margaret Hodge (MP) has been very vocal in this regard is a strong advocate for sanctions being imposed elsewhere ! Interesting times.

Delisting isn’t impossible, indeed would make sense given POLY is actively traded on MODX & AIM ( Kazakhstan) Markets , where their operations and dominant Shareholders lie, plus the LSE currently only gives them a headache, and London restricted finance !

Uk Incorporated Companies need a UK Authorised Auditor versed in ISA accounting standards, and given the wide ranging US Sanctions that the UK hide under that’s a little difficult. ie would you wish to draw the wrath of your shareholders/ Partners by volunteering to do the work when you have absolutely no obligation to do so and may find yourself on the wrong side of the FCA !

As always the devils in the detail, and that’s exactly what sanctions are intended to do…..produce consequences that remain extremely difficult to overcome ! There is of course an easy answer, but that’s not palatable for UK shareholders.

No surprise that’s what Russia wants but Ukraine have yet to recapture parts of the Donbas Region, so with NATO’s military support a counter offensive could prolong matters somewhat. Unfortunately for Putin this is no longer all about what Russia want, the West also have plans which no doubt also include his removal !

Putin will be pretty displeased with the UK when he learns it’s ‘Harpoon’ anti ship missiles have been sinking his fleet off Odesa !

One has to applaud this Company for not only working under the most difficult operational & logistical constraints but also for its Humanitarian work in the region. Not invested here ( yet ) but wish them continued success.

@swamp. Uk Inc. Companies require Statutory Auditors approved by the FRC .

“Next none issue”…. Unfortunately losing your Auditor is not a none issue, if you realise the consequences of being unable to replace with an acceptable one !!

I certainly didn’t detect any nervousness by AS when he was running thro his presentation yesterday, and this from someone who will be constantly receiving updates on patient clinical data as it’s gathered. Interesting times.

“Can someone explain the super high 20% interest rate? “ simply answer, without writing an essay, is Russia is now facing hyperinflation due to sanctions, hence its Central Bank has increased the base interest Rate to 20%, which is a quick and blunt way of trying to contain runaway inflation. Thus you’ll be paying 23/25% on any short term loans, and that hurts !

“Is Alexander Nesis jewish?” Yes, and a very astute man albeit think he may have wasted efforts in obtaining citizenship of Israel and Malta whilst living in Switzerland, no doubt in an effort to escape sanctions & /or mitigate his tax bill !! .

“Yes we are entering the end game now” ….sincerely hope so but let’s not forget you negotiate from a position of strength. Russia has yet to unleash what most fear ( tactical nuclear ) and we can only hope they don’t, but the bitterness between sides may place unbearable pressure on any “ peace deal” so I’m not so optimistic of a near future, permanent settlement.

This is on ‘rinse / repeat’ program….no rush !

Perhaps best look at some fundamentals first which hopefully we’ll get an update on for Capex & AISC ( All-in Sustaining Cost) figures at the upcoming CMD , guidance for which is currently suspended. That should at least indicate just what impact the macro environment is having here, plus with over 25% of Group debt maturing within 12 months guidance on debt servicing would help. Just hope they’re not borrowing too much local RUB currency at 23/25% interest …ouch !. But if the BOD’s have any sense , they won’t waste a crisis. Until then everyone is left guessing ….not a good basis upon which to invest ! So I think your Flash Sale may be rather premature . GL.

Given Putin has managed to turn Russia into a Pariah State don’t expect him to now comply with the normal rules of International Law . That will be the least of his concerns. Asset seizures could apply at any time and the West would be powerless. Many Russian Oligarchs will still be in his back pocket and be itching to fight back.