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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Tri-star Res. Share Chat (TSTR)



Share Price: 41.50Bid: 40.00Ask: 43.00Change: 0.00 (0.00%)No Movement on Tri-star Res.
Spread: 3.00Spread as %: 7.50%Open: 44.00High: 0.00Low: 0.00Yesterday’s Close: 41.50


Share Discussion for Tri-star Res.




View all TSTR Messages

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Krispy
Posts: 3,776
Opinion:No Opinion
Price:45.50
RE: T!Ts
24 Mar '19
Correct, butas Wassatt pointed out SPMP have six two of whom are on our Board, ie DF and K O'M.

Again good info from Wassatt and it comes back to the often calculated £2.80 - £3.00
 
del929
Posts: 14
Opinion:No Opinion
Price:45.50
RE: T!Ts
24 Mar '19
Wassat, my reply was to the question why would anyone consider selling there shares at present? IT had nothing to do with Odey. Thanks for all the info. Some excellent stuff there, I'm sure we all hope it happens and the SP increases as you state. FYI, I'm sure I read that Tri-star BOD has only four members now.
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
RE: T!Ts
23 Mar '19
That's it for now
That should give you something to chew over
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
RE: T!Ts
23 Mar '19
Cost for SPMP do not change at all – Maybe gets a little lower as TSTR don’t need individual BOD.
Don’t know what will happen to Canada mines? Maybe a one-off payment to TSTR??
What “should” happen is for every 4 TSTR shares you get 1 SPMP share.
That’s what SHOULD happen?
Didn’t GECR have a net value of $1 bil on the roaster? If that’s correct the TSTR share should be:

£303,698,000
6.6 x higher than where we are today = £3.1
Not too dissimilar to my £2.78 target set out a while back.
“IF” we get 1-4-4 share swap I am not too unhappy

But where will SPMP list??????? London???
I am happy(ish) they just need to get the plant ****** working…
And anything will NOT happen till it’s up and running anyway so should see a rise in SP.
Under the Agreement, OIF, Tri-Star and DNR have agreed to explore seeking a listing of SPMP, provisionally to take place once commercial production has been achieved.
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
RE: T!Ts
23 Mar '19
Sorry not been in touch still working 14 hour days 7 days a week (cause TSTR not at £12.80 hahaha).

A few observations.

So why would you want to list SPMP?

The obvious answer is:

Access to capital.

Why would you want capital?

The obvious answer is:

Build more roasters…

What roasters?

The obvious answer is a standalone gold plant.

On a RTO am I worried - not really…. We have 40% of SPMP now if they RTO into TSTR then we would have 40% of SPMP = SAME.

On the issue of higher cost/higher debt etc.

IT’S THE SAME.

Currently we have 100% of 40% of the debt.
Under a RTO we would in effect have 40% of 100%.
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
RE: T!Ts
23 Mar '19
Odey won’t have a problem with an RTO (wouldn’t surprise me if it was his idea).

IMHO – And read between the lines in the RNS.

SPMP will RTO (merge) into TSTR creating a larger company.

TSTR shareholders will have 40% of 100% instead of 100% of 40% (it’s the same).

2 things will then happen:

They will refinance all the debt and give it back to OIF/TSTR/DNS (us) if not before merger,

They will seek funding for a second roaster and/or standalone gold plant.

All that will happen in the RTO is TSTR becomes minority (40%) shareholder in SPMP (as we are now).

Only thing I cannot make a guess about is – What happens to Bald Hill and Canada mines?

Does that reverse into the new enlarged company? If so they should pay us.

Will TSTR get 4 shares for every 10 in new company + some in a shell mine company?

Read RNS – Wont happen till production – Ask yourself why. Could answers be:

1. Be worth more on production,

2. Easy to access cash to build more if revenues are flowing (albeit not at full capacity),

3. Odey wants his % of the IPR payment due (which IMHO will be distributed by special dividend why they need it if merging?)

IMHO – Interesting times – I think setting “SPMP” up for next roaster project now….
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
RE: T!Ts
23 Mar '19
Do some investors know nothing about the setup of SPMP and TSTR?

“Maybe they bought a while ago when the price was around 38 and are happy with there (sic) profits. Or maybe the lack of updates on the issue or issues or whatever is happening to resolve them at site is worrying them.”

What???

The Board of SPMP has 6 members.

2 of them are:

Director David Fletcher

Director Karen O’Mahony

Both put in TSTR and by default onto the SPMP board by Odey.

Read Davids biography:

http://tri-starresources.com/directors/
Wassatt
Posts: 81,034
Opinion:No Opinion
Price:45.50
T!Ts
23 Mar '19
Here's a message from beyond (if you know what I mean)

Few things:

worth a read if only for principle one:

http://tri-starresources.com/wp-content/uploads/2018/09/Corporate-Governance-Statement-and-Report_260918_PUBLISHED.pdf

As the SPMP Project moves into full operation, it is the longer term strategy of the Company to explore financing options and upstream partnerships or acquisitions to complement the SPMP Project and generate enhanced value for its shareholders.




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