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I'm out.
I've had a free holding here for a while. I invested in TSG, with board members and offices in London.
Been a great 10 years and I wish I'd invested more at those low prices years ago.
I'll top up one of my other investments.
Cheers all and GL
Thanks Col. Drake.
After years of being in SHG - many years, then giving up, I recently bought back in because of their last announcement. It does seem to be in a transformational phase, however, I'm still too nervous about Tanzania to add any more, but thanks for suggesting it. For anyone who isn't in SHG, it does seem worth a gamble - a little or lot depending on your tolerance for risk.
If you like the commodities super cycle theory, then copper is going to be a big winner. Personally I'm quite hopeful for Atalaya (ATM) a copper miner located in Spain (a nice, stable European country!).
This is Putin's Russia. Did they get a choice? You could equally argue that the buyers thought that TSG is worth far more than 118p.
I found it instructive this morning to go through the HGM bb which was similarly taken over last summer.
I think anyone here would do well to cash out and invest in Orosur Mining (OMI), the drill results are in coming, with worlds number one Newmont, and number eight , Agnico, leading the way. Sorry for of topic, but just a heads up for a great opportunity in the mining sector
In my notes to myself last November I put a top slice order in place at 125p and had 150p as fair value.
I've made good money on TSG over the past three years (my av around 55p) but it is still disappointing when these cobbled together offers are forced on small shareholders (I guess we could all reject the offer and hope for better) .... this price doesn't even match the post Covid high that TSG reached last year !!!
In selling out the directors have, presumably, made a judgment that they are not going to make much more money in the short term taking account of the investment needed to develop the mine(s). But who knows? Have any of them also been offered lucrative positions by the new owner?
breaktwister - "would have been happy to hold for much higher prices as I am bullish on the gold price" - I felt the same way, but since we so often end up losing gold mining shares in take over sat undervalued prices, I'm thinking that the big miners might be a better bet. e.g. BHP. In the last Year BRWM has gone up by 50 per cent and it pays a good dividend. I bought in last year seeking safety and it has turned out better than I expected. I expect I'll add more when I cash out of TSG.
Base metals are steadier than gold. They might not be multi-baggers, but if TSG turns out to be a multi-bagger, we won't get to enjoy the rocket ride.
https://aheadoftheherd.com/copper-shortage-narrative-goes-mainstream/
Like many of the others here, I have previously held good quality gold miners, but lost my holding due to takeovers - theft in my view - a rigged game.
The ruling elite of the world aren't going to let the little people hang on to valuable assets. We get used to pay for the development phase, then, just as the rewards are about to come, we get shafted. It is a rigged game and the City of London is set up to facilitate robbery. Many of the big fund collapses that we have seen were planned and executed in ways that allowed the crooks and spivs in charge to swipe investors' money but not go to jail.
There is another gold miner that is currently around 50p, and the chat boards are full of talk of it rocketing to £2 or £3. Well see. Once it starts production, it will be taken over, just like others have been, however investors might get 60p or 70p, so they won't do so badly.
I'm angry about what has happened with TSG. Last Sept they talked an upgraded dividend policy. Why didn't they announce a dividend in December? It should have been a very good payout. We've been cheated, in my opinion, out of that.
What do posters think would have been a fair price here?
Good post drunkinftl.
I doubt that Putin has anything to do with this. The MSM is full of anti-Russian propaganda, calling Putin a killer and such like, but Putin has shown great restraint in the face of provocation from the West.
Paul Craig Roberts used to be in the US government. He was a professor of politics and economics at Washington University, was an associate editor of The Wall Street Journal, he has written many books and at one time was in the Forbes list of America's most influential people. He passes on to his readers, information from his wide network of contacts, information that the MSM keeps hushed up.
Here are a few of his articles on Russia and below, on Biden. Biden - if only the people knew!
How Long Before Washington’s Demonization of Russia, China, and Iran Leads to War?
https://www.paulcraigroberts.org/2021/01/27/how-long-before-washingtons-demonization-of-russia-china-and-iran-leads-to-war/
Russia’s Policy of Peace Is Encouraging War
https://www.paulcraigroberts.org/2021/02/27/russias-policy-of-peace-is-encouraging-war/
Russia Has Had Enough of the Infantile West
https://www.paulcraigroberts.org/2021/02/12/russia-has-had-enough-of-the-infantile-west/
America’s Absurd Foreign Policy
https://www.paulcraigroberts.org/2021/02/26/americas-absurd-foreign-policy/
Essentially the Democratic party serves militarism, imperialism, and corporatism
https://www.paulcraigroberts.org/2021/02/03/essentially-the-democratic-party-serves-militarism-imperialism-and-corporatism-glenn-greenwald/
The Obama Era Criminals Who Orchestrated the Russiagate Hoax Have Top Positions in Biden Regime
https://www.paulcraigroberts.org/2021/03/07/the-obama-era-criminals-who-orchestrated-the-russiagate-hoax-have-top-positions-in-biden-regime/
"How Do You Like Having a Two-bit Punk Gangster as President-by-Theft of the United States?"
https://www.paulcraigroberts.org/2020/12/31/how-do-you-like-having-a-two-bit-punk-gangster-as-president-by-theft-of-the-united-states/
"Interfax News Report on Biden’s Participation in Ukrainian Corruption"
https://www.paulcraigroberts.org/2020/12/29/interfax-news-report-on-bidens-participation-in-ukrainian-corruption/
Cashed out and putting it all into OMI
This is indeed disappointing (just as was HGM).
I've now cashed-out. I want to thank the well-informed, articulate and civil posters on this board and wish everyone the best of luck with their TSG proceeds.
Over and out
''The company is the third global primary silver producer, the largest silver and the fourth gold producer in Russia..''
Interesting, this same guy, Vladislav Sviblov has done me over twice now! Control of Horvik and also behind the takeover of Highland Gold last year. Disappointing sell out by the board.
I suspect Sviblov also has a controlling interest in UFG, which our 'independent' board members mentioned have direct links to.
Florian Fenner worked for UFG Asset Management and controlled Petrovka GmbH as well as UFG Equity Opportunities Limited
Charles Ryan, non-exec Chairman, founder director of UFG
http://www.trans-siberiangold.com/about-us/leadership-team/board-of-directors/
https://markets.ft.com/data/announce/full?dockey=1323-14880343-2JRHGID103TAMGMHPL73ERV71O
I too got shafted on HGM last year. TSG worth way more than 118. They were likely told to sell up after the accident. I have made money here but would have been happy to hold for much higher prices as I am bullish on the gold price.
Biden calls Putin a killer.."The price he's going to pay, well, you'll see shortly." ....Putin is now angry.
I held HGM and am not surprised at this at all and they have chosen this 'gold in the doldrums' moment. POG inspite of its woes must be on the list... The Rouble will be backed by gold.
The Russians will want to avoid another Yukos moment
"The Exxon or Chevron buy-up of YukosSibneft would have been a literal energy coup d'etat.
Cheney knew it;
Bush knew it;
Khodorkovsky knew it.
Above all, Putin knew it and moved decisively to block it. "
http://www.engdahl.oilgeopolitics.net/Geopolitics___Eurasia/Russian_Giant/russian_giant.html
Our Raab..''Raab warned that Russia is more than capable of using deadly and covert weapons against western countries..'' Russia has always been our ally.
No proof of the Skripal poisoning or Navalny's has been handed over to the alleged perps.. which would have to happen in any court..
''Covid: Trials to test combination of Oxford and Sputnik vaccines'' https://www.bbc.com/news/health-55273907
We have the ongoings in Syyria.. take a look at who we have been supporting over there..
''Syria: Who's in control of Idlib?'' https://www.bbc.com/news/world-45401474
''Which rebel groups are fighting in Syria's eastern Ghouta?'' https://www.dw.com/en/which-rebel-groups-are-fighting-in-syrias-eastern-ghouta/a-42663501
If these reports had been on RT..you could ignore them.. but Deutsche Welle & the BBC (c/o Dept of Digital Media, Culture and Sport??)
If you ask me ...and you didn't.. the west is in trouble and the deal is they /we need Russian natural resources!
Yes the US has plenty of resources but according to Investopedia 90% of those resouces are in timber and coal?? And thats prob the reason Trump wanted to get coal going again!
It will be interesting to see what happens re the gas pipeline to Germany.. will it be completed or will the Russians just hibernate it .
By the way of light entertainment take a look at Bill Mahers New Rule: Losing to China | Real Time with Bill Maher (HBO) https://www.youtube.com/watch?v=2DH4v6FnbvM Laugh and then cry.
We've been shafted - "If any dividend or other distribution is authorised, declared, made or paid in respect of TSG Shares on or after the date of this Announcement, Horvik reserves the right to reduce the offer consideration by the aggregate amount of such dividend or other distribution"
I agree with pretty much all the sentiments here but also have a question. Given this seems to be a complete stitch up and clearly leverage is being applied behind the scenes by greedy oligarchs looking at excellent gold yields and increasing reserves just after we've put in the hard work presumably non Russian shareholders don't have the votes to stop it?
Also why not wait for the £1.18 cash to come through. Selling now just results in a lower attained price minus commissions?
I suspected this and commented on it last July/August when Highland Gold Mining had the same thing happen - this is the same entity buying (though I suspect it is a proxy for the Russian state). The accident probably sealed this, perhaps with the company threatened with penalties if they didn't sell.
I recall someone ripping into me for saying I thought TSG at risk like HGM, some Russian sector investors are kidding themselves IMO this is the Russian state engineering the repatriation of Assets, at be it via oligarchs and other proxies. Everything is done or not with state approval.
A sceptical man might suggest POG, HGM and now TSG have all been manipulated - guys there is nothing you can do here except oppose and get angry/accept or sell, all the talking won't help as I think the authorities know what going on in these Russian take outs.
This is the fourth time this has happened to me (screwed over by Russians from a bigger pay out), I invest because of the great potential and have made money but crumbs compared to those that have forced me out.
I advise everyone to be aware for the future, Russian companies don't perform like others for very good reason.
Some might say the country is corrupt to the core, and I wouldn't argue with them - I won't go into details but I once had cause to advise the CEO of a company operating in Russia (not TSG but which was also forced to sell out) that their own lawyers where releasing information that undermined the business - I was thanked and the leak was stopped.
Just be aware for next time guys, even legal title to properties is insecure where, allegedly, officials allow documents to be altered in favour of some thieving entity, don't assume UK standards apply.
I posted this in August last year, laughable really:
"Feels a bit like HGM did over the last few weeks (manipulated to keep a lid on the price IMO) I'm in good profit here and in HGM but it is not giving me pleasure as I feel like I'm Oliver Twist - I want more and feel I'm being short changed."
I suspect you all feel short changed this morning
This is worth a hell of a lot more than 118 p and we’ve been shaft”d imho
I've sold, 22% gain...
Extraordinary! There must be more to this. And what do private investors do now, wait for the takeover or sell immediately?
The big clue was when they restructured the fund that all private owners used. ill dig out my post because it had % in it.
2nd March
It did strike me that the best way TSG could capitalise on bad news was to buy back shares. And the bad news just keeps on coming. I also am a little uncomfortable with the amount of 'private' ownership here. Memories of HGM still recent.
Once they have the million or so shares, then it wouldn't take much to take the company back private. You could look at this 'phase' of the buy back as dirt cheap. The RNS about the fund restructuring has a group of them at 55%, with 22% in the treasury... I'm sure the accident was exactly that, but they are definitely up to something now.
I said a few weeks back this would happen. They got it cheap, down to the accident and accidental book keeping mistake.