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Has anyone noticed that in the delisting announcement of 3 Nov they said "running costs will decrease to less than Ā£50k p.a." but in the annual accounts released on 5 Nov they said that their costs to Dec 2021 would be Ā£350k? Anyone got any views why the discrepancy?
PS Ā£350k will be most of their incoming cash ($600k) used up.
I believe the Ā£50k per annum would be for directors wage and Ā£300k for accounting/general business running/xmas party cost etc
May well be Hobbs, but the point remains that they will be almost out of cash by next Xmas, and raising money as a private company is not easy. Is this Odey's opportunity to force dilution on remaining PIs, by putting in a final Ā£250k say, which at current company valuation would give him another 10% of the company?
Or are they hoping/expecting that the 'liquidity event' will take place before they run out of cash in 2022?
Cyberbub.. luckily it doesnāt seem like weāre going to run out of cash anytime soon, we could receive some kind of payment from sales/loans from SPMP if we just stay as a private company with no buy out.
The liquidity event will be prior to any SPMP updates.
Iām sure if SPMP wasnāt working to full potential we wouldāve heard about that for aure, no news is good news on SPMP.
This report was one year ago, the last sentence means a lot..
Tri-star Resources PLC (LON: TSTR) have seen their shares jump after the firm reported that progress had been made in its Oman operations.
Tri-star shares jumped 23.23% on Tuesday afternoon, to 38p. 19/11/19 13:25BST.
Tri-star gave shareholders a positive update when they alluded to the production of antimony metal at world standard commercial grade. The discovery was made at the Port of Sohar Freezone processing facility in Oman.
This comes at a good time for Tri-star where competitors have reported mixed results, and this discovery will allow the firm to stay with the pack.
Established names such as Hoschchild (LON: HOC) Mining have given strong reassurance to shareholders amidst an uncertain trading update. Whilst Serabi Gold (LON: SRB) reported a strong third quarter performance as they update shareholders.
Additionally, Thor Mining (LON: THR) and Avesoro (LON: ASO) saw their shares sink following modest trading updates.
Tri-star said that they wanted to focus on the rapid scaling of production at the plant, and the facility is operated by Strategic & Precious Metals Processing LLC.
Tri-star hold a 40% stake in Strategic & Precious Metals Processing LLC.
The firm has a target capacity to produce over 50,000 ounces of gold, and 20,000 onnes in combined antimony metal and antimony trioxide per annum.
Tri-Star said it has āexpressions of interestā from potential customers which would double the expected combined gold capacity from the plant.
Tri-Star Chair Adrian Collins said: āI am delighted that the major milestone of producing antimony metal at a grade of 99.65% has been passed; this proves the metallurgy of the process and enables us now to focus on full-scale commercial production.
āTo this end, we are advancing offtake agreements with potential buyers keen to diversify away from their reliance on the current dominant Chinese suppliers.ā
Tri-Star said the plant is the largest antimony roaster outside China.
Collins added: āAdditionally, the gold circuit is working well, and the first sales of gold have now been made; SPMP is continuing to improve the grade and is now producing gold dore at a grade in excess of 25%.
āGiven the robust market fundamentals for our products including high-grade antimony ingots, antimony trioxide and gold dore together with the planned ramp up of production, SPMP is at a tipping point, which we believe will see shareholders rewarded for their support.ā
https://ukinvestormagazine.co.uk/tri-star-shares-jump-after-progress-made-in-oman-operations/
Iām not even sure I want anyone to offer us any buy out, Iād rather just have dividends per annum.
I know Iām not a long term investor here but the buy out price we keep mentioning of 10p is an insult to long term investors here. SPMP is where it was always supposed to be completed and producing a commercial grade product, long term investors have already taken the hit of dilution to 16.3% the fair price at an absolute minimum here is 30p to be offered I will be declining 10p.
Yes. 10p is ridiculous. Most of the bigger investors were paying over 40p a share even before we knew the the roasters were actually going to work. Just relax Trade Hobbs, Im not sure how much you have invested in this, but whatever it is youāre going to do extremely well. I admire all the research that you have done over the last few weeks.
You deserve to do well. Good luck to you
All you need to do now is Stay Long :)
Hobbs you may "decline" an offer price, but remember you (and me, and any PIs) don't make that decision. One man controls TriStar and he will do what he needs to do in his own interest.
I have 257k shares average 3p.. not massive amounts but I enjoy the research and the investing world.
I understand we would have to accept, just feel itās still a low offer and long term holders deserve more.
Just seems unfair that long term took the gamble at the start on the build process, now itās completed people like me get in for sub 3p. Not that Iām complaining just seems too good to be true this share but we will see. One thing I am certain of us we canāt go any lower then the current SP so onwards and upwards.
No one has accused Odey of being an idiot
Also none of the big investors were paying over 40p before they new the roaster even worked
As for Odey and a scandal? Wasn't this the man who lost a ton of cash by backing brexit simply to short the uk economy... So there is no doubt in my mind he knows every trick in the book
If we wasn't delisting I believe the current sp would be around 12-16p. So I'm not saying there is no value at the levels we see today.
But we all know what a mine field Aim at the best of times... Now we're going private there is even less regulation.
And I can't say SPMP have earned much respect from me either over the last few years with some of the updates we've had from them during my time here.
So although i can see the value here
I'm my mind the risk attached to this now is just as great as it ever was.
I'm expecting these last 3 days to see some high volume trades and I've decided to sell before delisting...
Good luck all. whatever you decide to do!
Simple we owed 40% of the roaster before suspension
Now we only own 16%
I will let you do the maths!
Please correct me if Iām wrong
Correction...
Simple we owed 40% of the roaster concept before suspension
Now we only own 16.3% of a completed profitable commercial grade super plant.
I said if it wasnāt delisting we would be worth 12-16p
Because it delisting I value it lower than that . So you right moon.. itās not as simple as that, but neither the less the were fag pack calcs
Lol Tradehobbs you can word it anyway you want, but, it is what it is. And I wish you luck. But for me personally, right now I see just as much opportunity right now on fste 100, but with less risk, and easier escape roots if needed
So hopefully looking to make up my losses from this one else where
Aha thank you, I obviously do know this is a high risk share as no one really can work out what the hell is going on 100% Iāve accepted the fact the money Iāve risked is at high risk and we donāt really know Odeys full intentions of what could be played however at these levels and the possible āfairly likelyā upside could also happen.
I guess if you donāt want high risk/reward you donāt invest in AIM/private companies anyway.
I wish all Investors the best of luck also.