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Sefton Resources Share Chat (SER)



Share Price: 0.235Bid: 0.22Ask: 0.25Change: 0.00 (0.00%)No Movement on Sefton Res.
Spread: 0.03Spread as %: 13.64%Open: 0.215High: 0.24Low: 0.21Yesterday’s Close: 0.235



Share Discussion for Sefton Res. (SER)


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discopablo
Posts: 1,486
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Opinion:No Opinion
Price:0.18
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cliveas
1 Jul '14
What do you think the value is?
 
buller
Posts: 7,300
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.18
DP
1 Jul '14
I think you have answered my question:

If they were paid $8 million for 80 % the remaining 20% should be valued at 2 million. You say yourself that the 20% is being valued at 1.375 mill which tells me that I am right , that they are only being paid 5.5 for the 80% which adds up. I am not sure where you got the 8million from, but I am sure you can see that this would be illogical if 20% is valued at 1.375 mill which at least is the number we all agree on.
Cliveas
Posts: 3,271
Question
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Price:0.18
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RE: Clive
1 Jul '14
Disco I know all this :

What is the value of what is left

I keep asking and await your answer
discopablo
Posts: 1,486
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Price:0.19
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Clive
1 Jul '14
OK - last attempt.

Sefton are being paid $8M.

They received $360K on 27 June to pay off some of the $5M BoW balance.

They will be receiving the remainder of the $5M with which they will pay off the BoW balance.

Then they will receive a further $3M over three years with accrued interest at 6%.

That is a total of $8m for 80%

Then the value of the 20% remaining has been included in the accounts at $1.375M - that is a total for Tapia of $9.375m

That does not include the value of Kansas, the pipelines etc.

No idea on future nor does anybody - as per the RNS this will be released in the coming months.

Ciao ciao
buller
Posts: 7,300
Premium Chat Member
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Opinion:No Opinion
Price:0.19
OBB
1 Jul '14
I am still trying to understand the deal and neither SIFC or DP has been able to explain this part. Theys eem to include the repayment of the BOW loan (as does MA by the way) as part of the purchase price where as I can only see that it says that the payment for the shares are 3 million + 2.5 million. It looks to me that the repayment of the loan will be covered by a new loan which is not yet secured as described in this paragraph:

"The "Tapia Loan" - Hawker and Sefton are currently in discussions with several lending groups for the provision of at least $3,000,000 to Tapia LLC by way of a secured loan. The Tapia Loan will in all likelihood be secured by a first charge on the assets of Tapia LLC. The Bank has agreed to extend the repayment of the Old Loan Facility to December 29, 2104 on certain conditions, including a payment of $360,000 made on June 27, 2104, and additional principal payments of $120,000 per month in addition to current interest expense on the last business day of each month beginning July 31, 2014. Hawker and TEG USA will re-finance the Old Bank Facility with a new credit facility in Tapia LLC on commercially acceptable terms including removal of all cross guarantees from the Group."

so they are looking for 3 million loan to replace the eksisting loan which ahs been extended to the end of they year to give the new group time to find this money. the rest will be paid off by some of the money paid for the 80% as described in the RNS. Please help and either confirm or explain where I am going wrong here?
Cliveas
Posts: 3,271
Answer
Opinion:No Opinion
Price:0.19
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RE: Cliveas
1 Jul '14
No you haven't you have implied that Sefton are being paid $10m

After the deal Sefton has :

20% (passive in tapia)

Kansas production and pipeline (non profitable)

$3m over 3 Years which can only be to cover Director costs etc

NO INCOME

Please Value
discopablo
Posts: 1,486
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Price:0.19
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Cliveas
1 Jul '14
I have down - see earlier posts from the past few weeks.

Enough now. I've got a day job.
Cliveas
Posts: 3,271
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RE: Cliveas
1 Jul '14
No just provide a valuation please
discopablo
Posts: 1,486
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Price:0.19
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Cliveas
1 Jul '14
Are you a dalek?
Cliveas
Posts: 3,271
Question
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Price:0.19
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RE: Cliveas
1 Jul '14
Not if paid over 3 years

accountant answer the question

20% of tapia (passive ) no income except for $3m over 3 years!

You valuing that at what please?



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