OmniChart

QPP eagle51 30 Nov 2015

Re: Then It was interesting to see (read) the FT last week effectively poking fun at S&G (which has been operating since 1935 - not that that's really got anything to do with it, except that it wouldn't appear to be a 'flash in the pan' and has built up to here it is (or was) over a long period) for reporting 'EBITDAW' earnings.So, what is the 'W' that caused the mirth and sarcasm? I assume that what the more usual EBITDA stands for is well known.It turns out the 'W' stands for 'WIP movements'. So, what does this mean? As far as I can tell it means that earnings are calculated on the basis only of revenue actually billed in the relevant period.Is this a conservative way to report earnings? Yes, I believe it is.Do the clever financial journalists at the FT know what they're talking about? Evidently they don't. Is this a surprise? No - they're probably not accountants although this doesn't stop them jumping onto a 'sensation' and raising the ante with daft leaders. Why did they poke fun at S&G? Because S&G appears to to be departing from the norm, in taking judgemental decisions about levels of profitability away from directors (who may be under pressure to take an over-optimistic view of the value of unbilled inventory for profit reporting purposes). Bonuses are often "earned" by directors kidding shareholders and the market that the results are better than they actually are. It was the world's various tax collection agencies (starting in the UK I believe) that insisted a few years ago that partnerships, sole traders and companies should be taxed on the value by which WIP in one year exceeded its level in the previous one, regardless of whether it is billed or not. Previously, only fees billed were taxable. "How can we lay our hands on money more quickly?" someone in the Treasury must have said "I've just had an idea - let's tax WIP". The onus is now on the tax-payer to demonstrate specifically why WIP won't be collected. "Many a slip twixt cup and lip" is not a valid argument. IMO it should be. I'm old-fashioned. The various accounting bodies of the world lamely followed suit and told those who prepare accounts that this was a good thing and they had to do it, perhaps in return for the various governments of the world not deciding to review the captive nature of the way in which accounting firms gain a large percentage of their fees from statutory audit? Or maybe non-prosecution across the profession for signing a multitude of audit reports stating that all those banks were in such robust health, just before they collapsed a few years back?. Who writes accounting standards? The clever people the big firms lend on pro-bono secondments to the various accounting standards boards.It would seem Prudence is dead (maybe she's just in a coma). It is high time she 'did a lazarus' (or her eyelids started to flicker).If I'm right about EBITDAW, then S&G sets a good example of consistent accounting from year to year, with less likelihood of earnings being overstated. Billed inventory passes into debtors, but the nature of the work should make quick collection virtually certain. People can pick up trends in the business easily enough by comparing levels of WIP and debtors in the balance sheet at one year's end with the previous one. Anything which reduces reliance on directors' explanations of judgemental results has to be a good thing. Looks like (for earnings reporting purposes) they're still working on a virtual 'cash basis' of accounting in the PSD, Mel. And it's spread to Australia. What say you?

QPP eagle51 30 Nov 2015

Re: Then [link]

OXS the old trout 30 Nov 2015

Of some interest perhaps... [link] case is clearly more complex....

QPP melrosian 29 Nov 2015

Re: Then EagleYou are right it would have been bonkers for the lenders and borrowers to set up an own goal.AT PSD purchase I reckoned the shorters would move in and so it has proved.However lending in these circumstances could include covenant terms we dont like. I have no detail and no view . It does seem reasonable to rely on comforting words from the board about comfort. Mel

SGZ vfb 29 Nov 2015

Structural Study Cononish is just the beginning , been saying it for yearsIts all in there and that is only 1/16th of our Licence area , 11 significant targets and possible pay shoot resource expansion at the high grade ( M&I 14.9g/t Au) low cost ( £327 ) Cononish project Page 13 figure 5 map showing targets within the Cononish area , Page 12 figure 4 showing map of sample results[link] Beinn Udlaidh is app 4 km NNW of Cononish and is outside the NP ( National Park )The vein has been traced for 1,900m Sampling has returned values up to 383g/t Au & 163g/t AgAQ drilling intersected 11.1g/t Au & 167g/t AgIn additional significant breccia hosted gold-silver mineralisation has been identified with an exploration target of 0.57 and 5.7million tonnes at 1-2 g/t Gold Arrivain is app 3km NW of Cononish and is outside the NPVein outcrop sample returned value of 25.4g/t Au & 16.7g/t Ag Coire Nan Sionnach is just within the NP and is app 1.5km NNWOutcrop sample returned value of 51.2g/t Au 7 14.4g/t Ag , 12.9g/t Ag & 7.3g/t Ag , 14.3g/t & 39.8g/t Ag250m strike ave 2.86g/t Au over 4.4m Trench 3.5g/t Au & 12g/t Au Kilbridge is outside the NP and is app 2.3km NW of Cononish Vein outcrops samples retuned values of 46.2, 28.8, 17.9, 11.5 g/t Au Boulder samples returned values of 83.5, 62, 51.5, 45.5, 39 g/t Au16 Veins averaging 11.3g/t Au 15 boulders averaging 24.5g/t Au Cononish West, Allt Nan Sae, Meall Odhar, Garbh Choirean are all within the NPRefer to page 12 , figure 4 of 2013 annual report Not much info available must be part of 1100 samples that has not yet been released River Vein , is located outside the NP app 5km NW of Cononish Rock chip sampling at 164g/t Au Rock chip sampling up 2.72% Mo Vein sampling 194.6g/t Au & 200g/t Ag , 103.2g/t Au & 76.6g/t Ag 74.58g/t Au & 20.6g/t AgNQ drilling ;RV01 9.7g/t Au , 13.3g/t Ag , 0.6% Pb , 2.1% Zn at 60m depth 3.5g/t Au , 200g/t Ag , 1.4% Pb , 100ppm Mo , 34g/t Te at 78 m depthRV02 4.39g/t Au , 200g/t Ag , 1.8% Pb 167ppm Mo , 43g/t Te at 70m depth Tom a Chro is located outside the NP and is 2km from the River VeinVein outcrop 257g/t Au & 118g/t Ag 6 Boulders averaging 88.1g/t Au Two sets of soil samples suggest a 2km long mineralised structure trending NE-SW parallel to the Cononish deposit 7km awayA stream sediment sample returned 19.9g/t Au  Sron Garbh is located outside the NP app 5km NE of ConoishDrilling has intersected highly anomalous grades of Gold, Platinum, Palladium, Copper Nickel and Cobalt[link] Coire Chailein is located outside the NP and is app 500m from Sron GarbhRefer to figure 4 and 5 for location and sampling , Little information on this except for BGS info and the unknown 1100 samplesNat le Roux: "As a Scot I am pleased to be involved in this material step to the development of a significant Scottish gold mining industry."

TCG Orchard Gate 29 Nov 2015

Re: Quiet "without laughing at other people's misfortunes when the share does fall and I think we'd all be OK.... my personal view on you on here now is that you should move on taunt and laugh at people elsewhere..... "Thanks for sharing your personal view. You're free to do that and even free to be rude to me and about me if you wish. I have the same freedom. If you can't accept that I'd suggest you're in the wrong place and should disappear yourself.It's not someone's "misfortune" if they're bullish about a share and it goes down it's the risk they accepted when they bought the share. I don't laugh at that in any case, I laugh if they say something stupid, such as claiming to have superior knowledge to plebs like me because they work for TCG. How did that work out to date?As for showing appropriate responses to people's misfortunes I still think that the person who posts here and says he works for the company showed a complete absence of any decency or compassion when he described the death of a young family - for which this company was responsible - as being unfortunate because it had pushed the value of his shares down.So no, I won't stop posting here if I wish to comment or even just laugh at dumb comments (like your own). If you don't like it just place me on ignore. What of any value have you ever added?

OXS II Editor 29 Nov 2015

NEW ARTICLE: Trends and Targets for 30/11/2015 "OXUS GOLD (LSE:OXS) has been powering its way up the discussion comments on Interactive Investor, so we thought we'd take a look at the share price from our perspective. As the chart below shows, it's got a pretty well defined uptrend which ..."[link]

TUNG Orchard Gate 29 Nov 2015

Another bear From a well-know share comment site:Since Tungsten Corporation’s (TUNG) share price peaked around 400p just over a year ago, prompting its then boss, Edi Truell to brag about the £400 million Market cap at the AGM, the market retribution has been savage and unrelenting. The shares are down over ninety percent and that’s after raising a further £30mn in the markets. (Memo to CEOs out there: Never brag about your share price)No wonder the shareholders are shell shocked. Even the comfort derived from the steadfast support of Odey Asset Management as it increased its stake to over 19% is no longer available as it appears that even they have now started to bail.The straw now being clutched at is the fact that the company had £50 million cash at the end of May, £20 million of which was locked up as regulatory capital in the Tungsten Bank, which appears now to be up for sale. Various valiant attempts have been made to cobble together a “sum of the parts” valuation for the shares by calculating what cash remains and what the bank might fetch and invariably coming up with a number well in excess of today’s 39p per share with the business thrown in for free.I saw this exercise with Monetise (MONI) a while back and the outcome is likely to be similar: an entry into the twilight world of the penny stock. The problem is that cash burn is invariably worse than one’s worst fears, and flogging a small bank that is surplus to requirements is not easy. If it were, it would have been done by now. Most importantly there is no evidence that the business model, in so far as there is one, has any chance of succeeding and changes in advisors and management and the hiring of consultants are not going to change that. You can’t polish a t d.

SGZ vfb 29 Nov 2015

News out in AUS I have been saying for years that the place is covered in Gold and this makes me look less mad , lol ! Makes for good reading !11 highly prospective targets - 6 highly prospective and within 2.5km of cononish and 5 more within the study area.

OXS Pennyfalls 29 Nov 2015

Both Cynical - and Wrong Pscylops et al...Everything with you people always seems to have an agenda, people being in cahoots with others, ramping, deramping etc etc..You'd find a conspiracy in a singles' club.All it takes is one afternoon's posts replying to Daviduzbek and you think I'm sh*gin him. What a set of small-minded jokers.I'm interested in MY investment. You should be in yours, so keep yer nose out.If this case was simple and based on all the details that are in the public domain from the Oxus point of view,, this would have been done and dusted ages back.The things that are in the public domain are the easy parts. What I'm interested in are the parts NOT in the public domain ie The Uzbek's case. Re-read and look at my posts again - I am asking questions. Simple as. I am not stating anything. Ultimately you're all the victims of the result, and that could be good or bad.Regarding corruption and jurisdiction - you are SO naive...and I am not saying this happened. I am curious as to whether it did or not and on what level.The Yukos case (among others ) also presented corruption - and had patently passed the initial jurisdiction test !!! But it WAS a factor in the final outcome.

OXS ultrapunch 29 Nov 2015

The Facts. Setting the record straight. papillon 29 Nov'15 - 19:53 - 29230 of 29230 0 0 editOn reading the iii OXS bb I see that pennyfalls has posted the following (in reply to a post by daviduzbek): "If your assertion that bribes were paid (care to elaborate - even generally, and how you knwo this?) is correct, then that alone could blow this out of the water. If bribes were paid, it will depend on 1) To whom 2) on What level and 3) what part of the business deal development did it affect? This could lead to the throwout of the entire case ala Metal Tech (which has some unsettlng parallels) or reduction in payout (ala Yukos, which has some very nice parallels)" alluding to the Metal Tech vs Uzbek ICSID case and mentioning bribes in connection with the OXS vs Uzbeks UNCITRAL case pennyfalls (and daviduzbek) ARE POSTING A LOAD OF COMPLETE RUBBISH!! These are the facts:[link] "On 4 October 2013, an ICSID tribunal rendered its decision in the investment treaty dispute between the Israeli company Metal-Tech Ltd. and Uzbekistan. In the award, the tribunal found that it lacked jurisdiction to hear the parties’ claims and counterclaims brought under the Israel-Uzbekistan BIT and Uzbek law due to corruption related to Metal-Tech’s investment in Uzbekistan. In particular, the tribunal found that payments of approximately USD 4 million made by Metal-Tech to several individuals, including an Uzbek government official and the brother of the then Prime Minister of Uzbekistan, while presented as remuneration for various consultancy services, in fact constituted corruption and were illegal under Uzbek law." From the OXS RNS dated 14/11/12 Update on Arbitration Proceedings[link] "The Company provides the following update on arbitration proceedings which complies with the Order of the Arbitral Tribunal dated March 19, 2012 on the confidentiality of the arbitral proceedings. The Arbitral Tribunal has held that Oxus has standing under the bilateral investment treaty between the United Kingdom and Uzbekistan dated November 24, 1993 (the "BIT" to bring its claims for expropriation as direct and indirect shareholder of the non-UK subsidiaries that have made the investment in Uzbekistan." If OXS had acted corruptly (like Metal Tech had) by paying bribes it would have invalidated the bilateral investment treaty between the UK & the Uzbeks rather like Metal Tech paying bribes had invalidated the bilateral investment treaty between Israel & the Uzbeks. The fact that "Oxus has standing under the bilateral investment treaty between the United Kingdom and Uzbekistan dated November 24, 1993 (the "BIT" to bring its claims for expropriation" means the BIT WASN'T INVALIDATED BY ANY CORRUPT PAYMENTS!!!!!!!!!!!!!!!!! Hence I believe it is safe to conclude with 100% certainty that OXS did NOT make corrupt payments. If they had then the UNCITRAL arbitration panel would have stated it lacked jurisdiction to hear the OXS claim.

OXS daviduzbek 29 Nov 2015

Re: ***What the .....!!!*** 1) You ever been to the region2) You ever done business in the region3) Do you know how to pay a bribe without getting caught/trapped

SULA dicko80 29 Nov 2015

Re: Target How longs a piece of string ?There's a lot of news flow due in December that should add value

NCT BOWOOD 29 Nov 2015

Re: SP After the fall in the SP last week and having listened to the up beat interview given by RC I would expect some recovery bac to the 0.13/14 level thic coming week.

RGS wineberry 29 Nov 2015

Query re Blancco I've just spent some time looking at Regenersis web site, and find no mention at all of Blancco which every one is so excited about. Why, when this appears to be their main engine of future growth?