Proactiveinvestors Australia

Glossary

  • A
  • Abiotic stress: Abiotic stress is stress that is not caused by a biological organism. In crops abiotic stress is a major factor in yield and quality variation. Abiotic stress includes stress created by: intense light, herbicides, ozone, heat, chilling, freezing, drought, salinity, flooding and heavy metals.

    Acaricide: An acaricide is a type of pesticide that can be used to kill mites. Acaricides can target one or more of a mite’s developmental form including eggs, juveniles and adults.

    Acquisitions: Acquiring control of a corporation, called a target, by stock purchase or exchange, either hostile or friendly.

    Adit: A horizontal passage or tunnel to enter an underground mine.

    AGM: A mandatory yearly meeting of shareholders that allows stakeholders to stay informed and involved with company decisions and workings.

    Al: The chemical symbol for the element Aluminium

    Al2O3: Alumina

    Alternative Investment Market (AIM): A junior market compared with the main London Stock Exchange with less onerous listing requirements so it tends to attract smaller companies that have been trading for a short period of time.

    Andesite: A type of intrusive volcanic rock.

    Antiferromagnetism - In materials that exhibit antiferromagnetism, the spins of electrons align in a regular pattern with neighbouring spins pointing in opposite directions. This is a different manifestation of magnetism. Generally antiferromagnetic materials exhibit antiferromagnetism at a low temperature.

    Aphanitic: Rock texture where crystals are too small to be seen by the naked eye.

    API: American Petroleum Institute.

    Argillic: A type of alteration of rock leading to the formation of clay minerals.

    Associated Companies/Joint Ventures: These are companies where the investing company hold approximately 20% – 50% of the ordinary shares. The Profit and Loss Account will include a company’s share of the profits of an associated company or joint venture whilst the Balance sheet will include its share of the net assets.

  • B
  • Ba: The chemical symbol for the element Barium

    Balance Sheet: A financial statement which provides a quantitative summary of a company’s financial position at a given point in time. This takes into account assets, liabilities and net worth with the first part of the balance sheet showing all the productive assets a company owns, and the second part showing all the financial methods.

    Basement: the oldest rocks in a given area; thick foundation of ancient crustal rocks.

    Batholith: A large body of intrusive igneous rock.

    Beta: A measure of the volatility of a given company relative to the overall market. A beta greater than 1 is more volatile than the market, less than 1 is less volatile.

    Bi: The chemical symbol for the element Bismuth

    Bid Price: The price at which a market maker will buy a security.

    Biotite: A brown to black magnesium aluminium silicate mineral, common in most volcanic rocks

    Borrowings Analysis: This is a breakdown of when a company’s debt is due for repayment.

    Botanical Pesticide: A botanical pesticide is a pesticide derived from one or more plant derived chemicals or extracts.

    Breccia: Fragmental rock with angular components.

    Broker Recommendation: A stockbroker’s opinion of the investment quality of a company’s shares at the time that it’s reviewed in comparison to other stocks in the sector.

    Bulletin Board: A place on a website where private investors can post comments and questions.

  • C
  • Calcrete: Surficial secondary deposit of calcium carbonate

    Calcium sink: An area of tissue with a high affinity for calcium.

    Called up Share Capital: Nominal value of shares of the company that are issued and fully paid.

    Calm buoys: a catenary anchor leg mooring buoy – a floating structure that performs the dual function of keeping a tanker moored on a single point and transferring fluids while allowing the ship to move in accordance with wind and tide changes.

    Capital Employed: is the value of the assets that contribute to a company's ability to generate revenue. This is comprised of fixed assets plus current assets minus current liabilities (excluding short term borrowings) minus other long-term creditors minus intangible assets.

    Capital Expenditure per share: Net aliitions to fixed assets (after depreciation) divided by the number of shares in issue.

    Carbonaceous: Sedimentary units containing carbon

    Cash at Bank: Cash held by a company that is immediately available.

    Cash & Near Cash – Cash held by a company that is immediately available plus cash held on short-term (under 3 months) deposit.

    Cash Flow – A measure of a company's financial health. Equals cash receipts minus cash payments over a given period of time.

    Cash Flow Statement – Gives a summary of a company’s cash flow over a given period of time.

    Cash Increase/Decrease Per Share – The net change in a company’s cash balance over a given period divided by the number of shares in issue.

    Cash on Short Term Deposit – Cash held by a company on a short-term (under 3 months) deposit.

    Ce: The chemical symbol for the element cerium

    CEMAS: A Contract Research Organisation that is GLP and GEP compliant based in Ascot, UK. CEMAS is registered to carry out trials and laboratory studies suitable for submission for pesticide registration in the EU and US.

    Closing Price - The price of the last transaction for a given security at the end of a given trading session. also called close.

    Corporation Tax – A tax paid by limited companies on their profits.

    Costs Reimbursable: work undertaken by the Group where the amount charged to a customer is directly linked to the time spent on the project and the materials obtained by the Group for the purpose of completing the project.

    Creditors – People to whom the company owes something, usually cash or a claim to services.

    CRO: A Contract Research Organisation is an independent research facility that can test independently of a company.

    Cs: The chemical symbol for the element Caesium

    Cu: The chemical symbol for the element Copper

    Current Investments – A company’s investments that are not held on a long-term basis.

    Current Ratio – Current assets divided by current liabilities.

  • D
  • Debtors – People who owe the company something, usually cash or a claim to services.

    Depreciation – A noncash expense that reduces the value of an asset as a result of wear and tear, age, or obsolescence. Most assets lose their value over time (in other words, they depreciate), and must be replaced once the end of their useful life is reached. There are several accounting methods that are used in order to write off an asset's depreciation cost over the period of its useful life. Because it is a non-cash expense, depreciation lowers the company's reported earnings while increasing free cash flow.

    Dextral fault movement: Where the block on the far side appears to have moved to the right.

    Director Dealings – When directors buy or sell shares in their company.

    Disposals – Sale of a business or business line to another entity.

    Disseminated: Containing small discreet grains of sulphides.

    Divalent cation: A cation is an ion having a positive charge and characteristically moving toward the negative electrode in electrolysis. Valency is the combining capacity of an atom or radical determined by the number of electrons that it will lose, ali, or share when it reacts with other atoms. A divalent cation has a valency of 2.

    Dividends – A taxable payment declared by a company's board of directors and given to its shareholders out of the company's current or retained earnings, usually quarterly.

    Dividend Cover – A company’s ability to pay ordinary dividends to shareholders out of profits earned and is calculated by dividing the adjusted Earnings Per Share (EPS) by the total dividend per share.

    Dividend Growth (Average) - this shows how well a company is paying it Dividends by comparing the amount they have paid out to the shareholders over a chosen period.

    Dividend Payment Date – The date on which the most recent dividend will be paid to shareholders.

    Dividend Per Share Growth – The percentage change from the previous year in the dividend paid on each share.

    Dividend Yield - A financial ratio that shows how much a company pays out in dividends each year relative to its share price. In the absence of any capital gains, the dividend yield is the return on investment for a stock.

    The Dividend Yield is calculated as:

    (Total Dividend/ Share Price) x 100

    Dividend Yield is displayed as a percentage.

    DMS - Dilute magnetic semiconductors; materials that demonstrate dual-effects, such as magnetic and semi-conducting properties, simultaneously and can operate at room temperature and above.

    Doping - The aliition of impurities to a specific material; the purpose is to impart some of the attributes of the doping material to the material being doped.

    Drill ships: a free-floating mobile drilling platform used in very deep waters.

    Dy: The chemical symbol for the element Dysperosium

  • E
  • Earnings Per Share – A company’s profitability expressed on a per share basis and calculated by dividing the company’s annual earnings after tax by the number of shares in issue.

    Earnings Per Share – Basic – This is based on the actual profits and shares in issue.

    Earnings Per Share – Diluted – This is based on the profits and the number of shares in issue if the company were to issue ordinary shares arising from the full conversion of any relevant stocks (eg. Convertible Loan Stock).

    Earnings Per Share – Adjusted – This is the EPS provided by a company that excludes items from its profit and loss account that it considers to be exceptional and therefore distorting. This would allow a better comparison from year to year of a company’s normal trading performance.

    EBITDA –Earnings Before Interest, Taxes, Depreciation and Amortization. An approximate measure of a company's operating cash flow based on data from the company's income statement. Calculated by looking at earnings before the deduction of interest expenses, taxes, depreciation, and amortization.

    EBITDA/EV - Earnings Before Interest Tax Depreciation and Amortisation divided by Enterprise Value.

    EGM – If something happens within the company that requires the shareholders to meet before the next scheduled AGM, then an extraordinary general meeting is held.

    EFSA: The European Food Safety Authority is the keystone of EU risk assessment regarding food and feed safety. In close collaboration with national authorities and in open consultation with its stakeholders, the EFSA provides independent scientific advice and clear communication on existing and emerging risks.

    Electron - A particle that carries a negative electric charge.

    Electronics - Manipulation of electrical charge to operate and control switching, and relaying data and can be used to represent and store information.

    Electron Spin - The property of an electron that represents its internal quantized momentum. Spin was first proposed in 1925 by Ralph Kronig, George Uhlenbeck, and Samuel Goudsmit.

    Enterprise Value - This is a measure of a company's value and is often used as an alternative to market capitalisation. It is calculated as market capitalisation plus total borrowings minus cash and equivalents.

    EPA: The Environmental Protection Agency is the government body that regulates pesticides in the USA.

    EPC: Engineer Procure Construct.

    EPIC: Engineering, Procurement, Installation and Construction.

    Epidote: A yellow to green silicate mineral, formed during low grade metamorphism or hydrothermal processes

    Epidosite: Rock consisting of epidote and quartz that is metamorphic or hydrothermal in origin

    EPS Growth - EPS Growth shows the relative growth of a company’s earnings over the last year. A negative value indicates the company’s earnings fell in the last year. It is calculated as:

    [(Current year EPS – Last year EPS)/Last year EPS]*100.

    EPS Growth is displayed as a percentage.

    Epithermal: Ore body formed at shallow depths from ascending hydrothermal solutions.

    Er: The chemical symbol for the element Erbium.

    Exchange traded Fund (ETF) – ETFs are a kind of collective investment fund competing with investment trusts and unit trusts for investor’s money. ETFs are a lot like conventional tracker funds, pooling the cash of a large number of investors and investing it a basket of shares in companies that make up an index. ETFs are open ended but they do not usually have initial charges and their annual management charges are much lower.

    Ex-Dividend Date – was created to allow all pending transactions to be completed before the record date. If an investor does not own the stock before the ex-dividend date, he or she will be ineligible for the dividend payout. Further, for all pending transactions that have not been completed by the ex-dividend date, the exchanges automatically reduce the price of the stock by the amount of the dividend.

  • F
  • Felsic: Descriptive of light coloured rock containing an abundance of feldspar (generally Potassium rich) and quartz

    Fe: The chemical symbol for the element Iron

    FET - The field-effect transistor is a type of transistor that relies on an electric field to control the shape and hence the conductivity of a ‘channel’ in a semiconductor material.

    Fiscal Metering Skids: a metering system used on onshore and offshore petrochemical installations where oil or gas is transported from one vessel to another and has to be measured accurately to ensure correct payment.

    Flare knock-out units: a unit for storing liquid gas prior to it being piped up and burned off.

    Fluvial: Sediment deposited from drainage system

    FPSO: a Floating Production and Storage and Offloading system.

    Forecasts – These are estimates of a company’s future performance in terms of sales, earnings and dividends.

    Forecast Dividend Change – this is what the analysts believe the Dividend payout will increase/decrease by within a chosen period.

    Forecast EPS Change – this is what the analysts believe the EPS will increase/decrease within a chosen period.

    Forecast Revenue Change – This is what the analysts believe the Revenue will increase/decrease by within a chosen period.

    FSO: a Floating Storage and Offloading system.

    Fungicide: A fungicide is a pesticide used to kill fungi.

  • G
  • Ga: The chemical symbol for the element Gallium

    GAP: Good Agricultural Practice involves methods of land use which can best achieve the objectives of agronomic and environmental sustainability, is described in several different codes of practice designed by producer organizations, importers and retailers consortia and government bodies representing consumers (e.g. UK Food Standards Agency). American retailers use a different standard called SQF 2000.

    Gd: The chemical symbol for the element Gadolinium.

    Gearing – Companies are financed by a combination of debt and shareholders equity. A gearing ratio will tell how much a company has borrowed in relation to the amount of shareholders funds in the business.

    General Meetings – A meeting of the shareholders of a company usually held on an annual basis - commonly known as an AGM at which business such as the reception of the directors’ report and accounts, declaration of dividends, election of directors is held.

    GEP: Good Experimental Practice is an internationally recognized standard for field trials that can only be performed by accredited organizations. All trial data submitted to governmental registration bodies in a pesticide registration dossier must be performed to GEP standard. Where product/technology trials are referred to in this document, they are only to GEP standard where specifically stated.

    Giant Magneto-resistive (GMR) - GMR is a quantum mechanical effect observed in thin film structures (such as a Spin Filter Barrier) composed of alternating ferromagnetic and nonmagnetic metal layers. A key effect for manipulating electrons (as in hard disk read write heads).

    GLP: Good Laboratory Practice is an internationally recognized standard for laboratory experiments that can only be performed by accredited organizations. All laboratory work submitted to governmental registration bodies in a pesticide registration dossier must be performed to GLP standard. Where product/technology trials are referred to in this document, they are only to GLP standard where specifically stated.

    GM: Genetically modified.

    Gneiss: High grade metamorphic rock composed of alternating bands respectively rich in light and dark coloured minerals

    Granite: Light coloured, coarse-grained, intrusive igneous rock; comprises large sections of the Earth's continental crust

    Granodiorite: A type of intrusive igneous rock composition.

    Gross Borrowings – The total borrowings of a company.

    Gross Cash Flow – The operating cash flow of a company plus cash flows from investments, the servicing of finance and tax.

    Gross Gearing – Calculated by dividing gross borrowings by shareholder funds.

    Growth Metrics – Indicators of a company’s growth potential.

  • H
  • Hematite: An iron oxide mineral, the principal ore of iron.

    Hf: The chemical symbol for the element Hafnium.

    High/Low price – The highest and lowest prices for a security over a certain period – most usually quoted for the day (intraday high/low) and for the year (52 week high/low).

    Ho: The chemical symbol for the element Holmium.

    Hoistem: A airborne electromagnetic geophysical survey using a hoist array.

    Homogeneity: Homogeneity is a uniform state. It is sometimes economically beneficial to have homogeneity in a crop (colour, size, taste), rather than having a mixed distribution.

    Hydrothermal: formed in situ by the action of hot aqueous fluids.

  • I
  • Igneous: rocks resulting from the crystallization of molten magma, either intrusive or volcanic.

    Ignimbrite: A silicic extrusive volcanic rock.

    Imidacloprid: an insectide active ingredient developed by Bayer Crop Science and used in several Bayer Crop Science insecticides marketed under brand names including Confidor, Calypso and Gaucho. Imidacloprid is now off patent and is available from generic manufacturers in China.

    Index – An index is a statistical indicator representing the value of the securities that constitute it. Indices are often used to measure a market or industry’s performance. An index may be grouped by market cap (e.g. FTSE 100), business type (e.g. the technology companies in the FTSE Techmark index), sector (e.g. Telecoms) or some other parameter.

    Indicated Mineral Resource: that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to support mine planning and evaluation of the economic viability of the deposit, based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

    Inferred Mineral Resource: that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity, gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

    Intangible Assets – A company’s long-term assets that are usually non-physical in nature, but represent a right or expected future benefit. Examples are goodwill, brands and trademarks.

    Interest – Monies charged by a bank or other financial organisation for borrowing money. This can also refer to the return earned on an investment, including money on deposit at a bank.

    Interest Cover – The ability of a company to cover its finance charges. This is calculated by dividing the profit before interest payable by interest payable.

    Interim Dividend - A dividend which is declared and distributed before the company's annual earnings have been calculated. These dividends are usually distributed six-monthly or quarterly.

    Interim Results (“Interims”) - The results reported by a company for the first six months of its financial year. Generally, interim results are made public within three months of the end of the interim period.

    Introduction - When a company comes to the market without making any money on admission.

    Intrusive: of a body of igneous rock that invades older rocks.

    Intrusion: A body of igneous rock that invades older rocks

    Invested Equity Capital – Equity shareholders’ funds plus provisions.

    Investment Trusts – a collective fund in the form of a listed company holding a portfolio of securities on behalf of its own shareholders. An investment trust and its shares are tradable in the same way as other companies and shares.

    IOCG: A type of mineral deposit containing iron oxide, copper and gold.

    IPO – Initial Public Offering, the term used for any company joining the stock market. It is a way for companies to raise cash and increase and diversify the current shareholder base.

    ISIN - International Securities Identification Number. A unique international code which identifies a securities issue. Each country has a national numbering agency which assigns ISIN numbers for securities in that country.

    ISO: International Standards Organisation.

  • J
  • Jacket: a welded steel, tubular framework used in traditional fixed steel offshore structures to support the topside facilities.

    Jackup Rigs: a self-contained combination drilling rig and floating barge, fitted with long support legs that can be raised or lowered independently of each other.

  • L
  • Lacustrine: Shallow lake environment

    Land Rigs: rigs that drill for oil or gas onshore.

    Leaching: Leaching is the movement of nutrients (both chemical and natural sources) through the soil profile and ultimately into groundwater. Leaching of nutrients (in particular nitrogen, phosphorous and potassium) from agricultural land has been responsible for environmental problems.

    Limonite: A brown hydrous iron oxide.

    Lloyds List: a publication that consists of the latest news regarding shipping matters.

    LTIs: Lost Time Incidents.

    Lump Sum: work undertaken by the Group where the amount charged to a customer is independent of the time spent on the project and the materials obtained for the purpose of completing the project.

  • M
  • Mafic: Descriptive of rocks containing major proportions of magnesium and iron silicate minerals

    Mag Anchor: a type of anchor.

    Magmatic: An accumulation of igneous rock.

    Magnetic Coupling - Also called Inductive Coupling. The transfer of energy from one circuit component to another through a shared magnetic field. A change in current flow through one device induces current flow in the other device.

    Magnetics: Measurement of the earth’s magnetic field and the magnetic character of the rocks.

    Major Shareholders – Shareholders in a company owning more than 3% of the ordinary shares.

    Manganite: Manganese oxide hydroxide, iron grey to black in colour, formed at higher temperatures than other common Manganese minerals, and usually associated with other manganese oxides.

    Manto: Vein, seam or lode spread horizontally (from the Spanish for blanket).

    Market Capitalisation – The market value of a company, calculated by multiplying the current share price by the number of shares in issue.

    Measured Mineral Resource: that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to support production planning and evaluation of the economic viability of the deposit, based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

    Mesoproterozoic: Geological period in time of around 1000 - 1600 my

    Metallogenic: Pertaining to the origin of ore deposits.

    Micronutrient: nutrients that are required by plants in very small quantities, but if not available will restrict growth and quality of crops. Micronutrient deficiencies are common in agricultural crops and are corrected by application of micronutrient fertilizers.

    Mid Price – The price in-between Bid and Offer price.

    Mineral Resource: A Mineral Resource is a concentration or occurrence of minerals in or on the Earth's crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction.

    Mineralisation: Anomalous concentration of mineral matter in rock; viz along faults, or close to deep igneous bodies.

    Mineralogy: The science of the study of minerals

    Minority Interest – Where a subsidiary is not wholly owned, this represents the share of the assets or the share of profits of subsidiaries that belong to someone else.

    Mn: the chemical symbol for the metallic element Manganese.

    MODUs: Mobile Offshore Drilling Units.

    Moiety: A term used in patents to describe a molecule or chemical entity.

    Molybdenum: Molybdenum (Mo) is a transition metal. The pure metal is silvery white in colour, fairly soft, and has one of the highest melting points of all pure elements. In small quantities, molybdenum is effective at hardening steel.

    Monovalent Cation: A cation is an ion having a positive charge and characteristically moving toward the negative electrode in electrolysis. Valency is the combining capacity of an atom or radical determined by the number of electrons that it will lose, ali, or share when it reacts with other atoms. A monovalent cation has a valency of 1.

    MOPUs: Mobile Offshore Production Units.

    MRAM - Magnetoresistive Random Access Memory.

    MSR: A Member State Rapporteur is a national pesticide registration body of an EU member state that pursues registration (through mutual recognition) for a pesticide in other EU states following granting of registration in its own state.

    Mt: Million tonnes.

    Mud process system: a system used to mix the required fluids, circulate that mixture downhole, clean and store the returned fluids.

    Mutual recognition: Mutual recognition is a system whereby once registered in one EU state, national registration bodies in other EU member states can accept registration of pesticides without further work. Mutual recognition is discretionary.

    Muva Supergroup: Upper Basement sedimentary sequence present in Central and Eastern Zambia.

  • N
  • Nb: The chemical symbol for the element Niobium

    Nd: The chemical symbol for the element Neodymium.

    Nematicide: A nematicide is a type of pesticide used to kill nematodes (a phylum of worms). Nematicides can target one or more of the developmental forms in a nematode’s life cycle.

    Nematodes: A nematode is a worm belonging to the Phylum Nematoda, nematodes include animal parasites such as roundworm and also plant parasites. Plant parasitic nematodes are microscopic and are a major cause of economic damage to a wide range of agricultural crops.

    Net Assets – The total figure for all assets less all liabilities.

    Net Asset Value – The value of the shareholders interest in a company, calculated by subtracting liabilities from assets, deducting intangible assets and dividing by the number of shares in issue.

    Net Asset Value (Funds) – The price of each share of a mutual fund. It is calculated by subtracting the fund's liabilities from its total assets, and dividing that figure by the number of shares outstanding. The NAV is the amount of money that an investor would receive for each share if the mutual fund sold all of its assets, paid off all of its outstanding debts, and distributed the proceeds to shareholders.

    Net Borrowings – Total borrowings excluding cash and near cash.

    Net Cash Per Share – Cash and near cash plus short term listed investments divided by the number of shares in issue.

    Net Gearing - is the Total Debt net of cash & equivalents as a percentage of the Total of Shareholders' funds and Debt funds. This ratio is calculated as:

    [ (Total Liabilities– Cash at Bank & in Hand)/Shareholder Funds ] *100

    Net Gearing is displayed as a percentage.

    Net Interest – Interest payable net of interest received.

    New Issue – Also known as IPO or Initial Public Offering, the term used for any company joining the stock market. It is a way for companies to raise cash and increase and diversify the current shareholder base.

    Next Year Dividend Yield - Estimated figure for the annual dividend per share that the company will pay out next year. This is a consensus figure calculated from a range of analysts that produce investment research on the stock.

    Next Year EPS Estimate - Estimated figure for next year’s Earnings Per Share figure. This is a consensus figure calculated from a range of analysts that produce investment research on the stock.

    Next Year Forecast P/E Ratio - Estimated figure for next years Price to Earnings ratio. This is a consensus figure calculated based on the EPS figure expected from a range of analysts that produce investment research on this stock.

    NPK: Nitrogen Potassium Phosphorus fertiliser.

    Normalisation - This is the accounting method that takes out exceptional items from the profit & loss account. These exceptional items are considered one-off occurrences during the financial year that the company believes is outside its daily operations. Therefore to reflect the company’s underlying performance, the company will strip out these exceptional items and provide accounts that it believes is more reflective of the company’s financial performance.

    NVRAM - Non-Volatile Random Access Memory. The memory inside a flash-memory stick, or MP3 or personal video device that does not use a hard disk drive. Typically all the data in memory remains when the device is turned off. This is the MRAM target market Packing density - The ability to pack in a highly dense manner very small electronic components (such as gates or transistors). Packing density Is inversely proportional to the physical space required for an electric or electronic component to operate properly. Hence, the less physical space is required for the component to operate, the more of them can be packed into a limited space.

  • O
  • OFEX – A British share trading and information service that enables investors to buy and sell shares in companies whose shares are not traded on the London Stock Exchange.

    Offer Price – The price at which a market maker will sell a security.

    Official List – The UK Listing Authority’s list of all listed securities.

    Operating Cash Flow Per Share – This is the cash generated from operating activities divided by the number of shares in issue.

    Operating Margin – This is the trading margin for each period reported, showing trading profit as a percentage of sales, or total trading revenues. 

The calculation is as follows:

    Trading profit/total sales x 100 = margin (%)

    Operating Profit/Loss – A company’s profit after deducting operating costs from gross profits. It is the profit before net interest, investment income and share of associated companies/joint ventures profits.

    Orogen: A belt of deformed rocks.

    Ovicidal: An ovicide is a chemical agent that kills eggs, especially the eggs of insects, mites or nematodes.

  • P
  • P: The chemical symbol for the element Phosphorous

    P/E Ratio - Also known as the Price to Earnings ratio is the most common measure of how expensive a stock is. The P/E ratio is equal to a stock's market capitalization divided by its after-tax earnings over a 12-month period, usually the trailing period but occasionally the current or forward period. The value is the same whether the calculation is done for the whole company or on a per-share basis. For example, the P/E ratio of company A with a share price of £10 and earnings per share of £2 is 5. The higher the P/E ratio, the more the market is willing to pay for each dollar of annual earnings.

    Digital Look uses the adjusted EPS figure for this calculation.

    Palaeo-channel: Ancient river drainage system

    Payment Date – The date when a dividend becomes payable.

    Pb: The chemical symbol for the metallic element lead

    PCT: The Patent Cooperation Treaty was concluded in 1970, amended in 1979, and modified in 1984 and 2001. It is open to states party to the Paris Convention for the Protection of Industrial Property (1883) (“Contracting States”). The Treaty makes it possible to seek patent protection for an invention simultaneously in each of a large number of countries by filing an “international” patent application. Such an application may be filed by anyone who is a national or resident of a Contracting State. It may generally be filed with the national patent office of the Contracting State of which the applicant is a national or resident or, at the applicant’s option, with the International Bureau of the World Intellectual Property Organisation in Geneva.

    PEG Ratio - is a valuation metric for determining the relative trade-off between the price of a stock, the earnings generated per share (EPS), and the company's expected future growth. A stock's price/earnings ratio divided by its year-over-year earnings growth rate. In general, the lower the PEG, the better the value, because the investor would be paying less for each unit of earnings growth.Br />
    The PEG is calculated as P/E Ratio/EPS Growth and is expressed as a number.

    Pegmatite: Very coarse-grained igneous intrusive body, usually granitic, usually in dyke or sill form

    Photovoltaic (PV) - The property of certain materials which generate electrical current when light is shone upon them. Photovoltaics is a solar power technology that uses solar cells or solar photovoltaic arrays to convert light from the sun directly into electricity.

    Piezoelectric - The property of certain materials to generate electric charge and induced voltage under external stress, and vice versa (the material becomes strained under an external electric field).

    Piles: pillars supporting offshore structures.

    Placing - A form of issue of securities in the UK, typically with a predetermined number of non-retail investors.

    Plems: a pipeline end manifold.

    Pliocene: Geological period in recent time circa < 5my ppm: Parts per million

    Plagioclase: Plagioclase is an important rock-forming mineral and occurs widely, primarily in igneous rocks such as basalts.

    Polymetallic: Mineralization with more than one type of valuable mineral.

    Porphyry: Texture in an igneous rock, type of copper deposit associated with igneous intrusions.

    Portfolio – A collection of investments all owned by the same individual or organization. These investments often include stocks, which are investments in individual businesses; bonds, which are investments in debt that are designed to earn interest; and mutual funds, which are essentially pools of money from many investors that are invested by professionals or according to indices.

    ppm: Parts per million.

    Preference Shares - Fixed dividend shares that rank above ordinary shares if a company is wound up. Preference shares represent partial ownership in a company, although preferred stock shareholders do not enjoy any of the voting rights of common stockholders.

    Preliminary Results – Listed companies have to announce the annual financial results for the company, also know as prelims or finals. They are considered preliminary until they are reviewed, adjusted and approved by audit. They also have to announce interim results and some companies also announce quarterly figures.

    Pre-Tax Profit – A company’s operating profit before tax is deducted.

    Pre-Tax Profit per share – A company’s profit after expenses but before tax divided by the number of shares in issue.

    Price to Cash Flow Ratio – This provides a measure of how the market views the future financial health of a company calculated by dividing the price by the gross cash flow per share.

    Price to Research & Development Ratio – A measure of the relationship between a company’s value and the amount spent on research and development.

    Price to Tangible Book Value Ratio – A measure to compare a company’s market value to its book value calculated by dividing the price by the net asset value.

    Process barges: a long, large and usually flat-bottomed vessel used for transporting freight that is generally unpowered and towed or pushed by another vessel.

    Profit after Tax - A company’s profit after tax has been deducted.

    Profit and Loss account - The profit and loss account provides a record of a firm's trading activities and whether it has made a profit or lost money over a particular period of time. It differs from the balance sheet that records the financial position of the business at a particular snapshot moment in time.

    Profit and Loss Account – Normalised – This shows profits and key financial data excluding the effects of items that considered to be exceptional.

    Profit and Loss Account – Unadjusted – This shows profits and key financial data based on the figures as presented by the company.

    Profit Before Tax - A company’s operating profit before tax is deducted.

    Profit Growth (Average) – this shows how well a company is growing by comparing the net profits to the past net profits over a chosen period.

    Profit Warning – When a listed company expects profits to fall below analysts’ forecasts by more then 10%, the directors are required to issue a profits warning through the London Stock Exchange.

    Provisions – When a company uses a clause or stipulation in an agreement for a future potential liability,

    PSD: The Pesticide Safety Directorate is the government body responsible for persticide regulation in the UK.

    Public Offer –The making available of a new securities issue to the public through an underwriting also called offering. The public can ask for a prospectus and apply to buy shares prior to the companies admission.

    Pyritisation: Introduction of pyrite (iron sulphide) into a rock during alteration and mineralization.

  • Q
  • Quick Ratio – Current assets (excluding stocks) divided by current liabilities.

  • R
  • R&D: Research and development.

    Radiometric: Measurement of radiation. An airborne radiometric survey may distinguish different rock units on the basis of their inherent radioactive minerals

    RAM - Random Access Memory. The memory inside the PC or other device that is lost when the device is turned off. The data access method of the memory is considered random-access, as opposed to serial-access.

    Rb: The chemical symbol for the element rubidium

    Record Date – The date established by a company to determine who should receive a dividend.

    REE: Rare earth elements

    Regulatory News Service – Also known as RNS, a means by which UK listed companies make announcements to the London Stock Exchange.

    Reserves – In asset-based lending the difference between the value of the collateral and the amount lent. Also, funds set aside for emergencies or other future needs. Reserves can arise from the retention of profits or from events such as the issue of shares at a premium or the revaluation of assets.

    Return on Equity – Equity shareholders’ earnings divided by the invested equity capital.

    Revenue Growth (Average) – this shows how well a company is growing by comparing the Revenue from the historical Revenue over the chosen period.

    RiskGrade – Helps investors measure and compare the risk of financial investments to other companies at the same point in time. Visit http://www.riskgrades.com/retail/what_is/what_is.cgi to learn more about RiskGrades.

    RIT (or KTH in Swedish) - The Swedish Royal Institute of Technology (Kungliga Tekniska Högskolan).

    ROCE – (Return on capital employed). This is a measure of the return from invested and borrowed capital. The return is the pre-tax profit earned before net borrowing costs divided by net assets (excluding intangibles). Where detailed annual data is available the return is measured by dividing the profit before interest payable by net assets excluding intangibles but before deducting provisions and total borrowings.

    Rock Chip Sampling: Systematic collection of rock samples at a series of different locations in order to study the distribution of rock geochemical values

    Roll Front: Style of secondary uranium mineralisation

  • S
  • S: The chemical symbol for the element Sulphur

    Sales Per Share – A ratio that shows the total revenue earned per share over a 12-month period. This ratio can be compared to the company’s share price to understand the value that the markets are putting on a unit of the company’s sales.

    Scintillometer: Instrument used for measuring radiation

    Sectors – A distinct subset of a market, society, industry, or economy, whose components share similar characteristics. Stocks are often grouped into different sectors depending upon the company's business.

    SEDOL - The Stock Exchange Daily Official List number, a code used by the London Stock Exchange to identify stocks, especially those that aren't actively traded in the U.S. and don't have a CUSIP number.

    Semiconductor - A material whose conductive state (conducting or insulating) can be controlled. Silicon is one such material.

    Semi-submersibles: a mobile drilling platform with floats or pontoons which have been submerged to give stability while operating. These tend to be used in deeper waters down to 360 metres or more and are kept in position by anchors or by dynamic positioning.

    Separation modules: a unit used in connection with the separation of oil and gas “slot rig” a rig where the drilling part operates through rig slots rather than through a cantilever.

    Shares – A unit of ownership that is a proportional amount of a company. The standard class of shares are usually referred to as “Ordinary Shares” but a company may have more than one class of share, including Preference Shares.

    Share Premium Account – Surplus of proceeds from share issue over the nominal value of shares issued.

    Shareholder Funds – The sum of all company assets less all liabilities.

    Shares in Issue - This is the number of shares currently issued for that company.

    Shear: A zone in which rocks have been deformed, primarily in a ductile manner, as a result of applied stress

    Si: The chemical symbol for the element Silicon

    SiO2: Silica (silicon oxide)

    Silicification: Introduction of silica into a rock during alteration and mineralization.

    Sinistral: Fault movement where the block on the far side appears to have moved to the left.

    Skarn: Rocks composed of calc silicates and ore metals derived from an intrusive.

    SnO2: Cassiterite (tin oxide)

    Speccularite: A type of hematite with a metallic lustre.

    Spin Filter Barrier (SFB) - A device that blocks electrons with one spin-type while letting the electrons of another spin-type to pass through. Created by stacking thin films of various materials and semiconductors.

    Spintronics - A technology that utilizes the spin of an electron in aliition to its charge to process and store information.

    Spread – The difference between the Bid Price and the Offer Price of an investment.

    SRAM - Static Random Access Memory is memory that can retain the data as long as it has access to a continual small electrical charge.

    Stacking - The binding of one material to another to create a layered stack of materials. A Spin Filter Barrier - is a layered stack of different materials that will segregate the incoming electrons according to their axial spin.

    Stock Exchange – is an organization of brokers and investment bankers which has the purpose of providing the facilities for trade of company stock and other financial instruments - usually a central location and recordkeeping. The trading of stock on stock exchanges is called the stock market.

    Stocks – The combined value of raw materials, work in progress or under construction and finished goods held.

    Note that this is also the American term for ‘shares’.

    Stockwork: Rock mass interpenetrated by small veins of random orientation.

    Stratiform: Having form of layers, ore body in layer within sediments.

    Stratigraphic: Correlation of sedimentary or volcanic rock within beds over a sequence in time

    Strontium: Strontium is a rare alkaline-earth metal

    Structural: Pertaining to geological structure; including folds, faults, shears, cleavage, and joints. Structures range from regional scale to microscopic

    Subduction: Process where one tectonic plate passes beneath another over-riding plate.

    Suction anchor: a type of deepwater anchor.

    Sulphidation: Introduction of sulphide minerals into a rock during alteration and mineralisation.

    Supergene: Enrichment of minerals due to weathering and descending water table.

  • T
  • Ta: The chemical symbol for the element Tantalum

    Talus: Accumulation of fallen material at the foot of a slope.

    Tb: The chemical symbol for the element Terbium

    Tangible Assets – Physical assets owned by a company or individual that can be seen or touched such as buildings, goods for sale or machinery.

    Tangible Fixed Assets Analysis – A detailed breakdown of the movements in fixed assets, split between property and other fixed assets over the period.

    Tax Rate – This is arrived at by dividing the total group tax (excluding associated companies/joint ventures) by the profit before tax (excluding associated companies/joint ventures).

    Tender Rigs: a mobile offshore drilling rig designed for production drilling from platform rigs.

    Th: The chemical symbol for the element Thorium

    Ticker - The three or four letter trading symbol assigned to the share (and some types of fund – investment trusts and ETF’s) by the exchange on which it trades. Investors often refer to shares by their ticker symbols because of their brevity and because they often remain the same even if a company’s name changes.

    Time and Sales - The official record of trades executed on a stock exchange during the day.

    Topsides: the oil, gas and water processing facilities of an FPSO.

    Total Assets – The sum of all company assets; both fixed and current.

    Trading Statement – A statement made by a company regarding current business activities and sales experience.

    Tungsten: Tungsten (W) is found in several ores including wolframite and scheelite. It is a very hard, heavy, steel-grey to white transition metal. The pure form is used mainly in electrical applications but its many compounds and alloys are widely used in many applications.

    Tunnel Junction - An insulating barrier between two conducting electrodes.

    Turnover – Also known as sales, the amount derived from the provision of goods and services falling within a company’s normal activities after the deduction of trade discounts, VAT, etc. For banks this is represented by the total operating income, for insurance companies it is represented by gross premiums and for investment trusts it is represented by investment income in the Revenue Account.

    Turret: the main part of the FPSO mooring system.

  • U
  • U: The chemical symbol for the element Uranium

    U3O8: Uranium Oxide

    Uraninite: The chief ore mineral of uranium. Uraninite has the idealized chemical composition UO2, uranium dioxide. Thorium and rare earths, chiefly cerium, are usually present in variable and sometimes large amounts. Lead always is present by radioactive decay of the thorium and uranium present

  • V
  • Value Metrics – Indicators of a company’s value.

    Vein: A thin sheet-like intrusion into a fissure or crack, commonly bearing quartz

    Volcanic: Pertaining to volcanoes, process or rock derived from a volcano.

    Volume – The number of shares traded over a given time period, usually one day.

    Vuggy: Rocks with many cavities (vugs).

    VWAP (Volume weighted average price) - A measure of the price at which the majority of a given day's trading in a given security took place. This is calculated by dividing the value of trades executed by the volume of shares traded over a given period.

  • Y
  • Y: The chemical symbol for the element Yittrium

  • Z
  • Zn: The chemical symbol for the element Zinc

    Zr: The chemical symbol for the element Zirconium

Andrew McCrea is Sub Authorised Representative (SAR: 291331) of Proactive Investors Australia Pty Ltd
(ABN: 19 132 787 654) which is a Corporate Auhorised Representative (CAR: 413802) of RM Capital
Pty Ltd (AFSL: 221938).

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