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Update: They have all the feedstock...new boss at site right on it.
WP working hard to get it fired up very soon.
There is approx $200m of debt, no more money realistically comming from Omani banks, as they do not make money of course.
Objective is to get plant running for months.......prove it...and the amount of cash it can make...and then securitise the debt over 10 - 20 years.
That clears that up....and makes TSTR stake valuable.
Well well in excess of £50m.
Which is 165% up from our exit price, yet no one is even willing to fill that buy order yet. I think that speaks for itself.
Hardly anyone willing to sell their shares sub 10p. Buyers will have to cough up to jump on board here.
Confirmation from SPMP that plant is likely to hit full capacity by December 2021.
@Chitta
Thanks for coming back on this. Glad you have sorted your issues out. I intend to hang on with mine and see if the paying price increases considerably. Lets hope so.
Yes that's how I see it.I think the value will come from what someone is prepared to pay for our 16% .A fully functional roaster would eventually bring in significant annual revenues and that has to be valuable..Only My reading of the situation and it will be good to see where we are in 5 days.
Finally got confirmation that my small holding has been transferred to the new broker so I can actually trade them. Not that I am going to for 4.8p but we will see. If anyone else has problems transferring out of IG let me know and I will try and help.
@Chitta123
the 40p, isn't that what somebody wants to sell them for? Doesn't mean anybody will pay that much for them? Not being negative or argumentative, just trying to follow what is going on? I have no plans to sell my holding at any time shortly. Might do for 40p mind!!
We have 16% of spmp..This won't relist and the delist ingredients rns spoke of a liquidity event.My take is the 16% has already been agreed on to be acquired by another party .Maybe the clause in the deal is dependent on roaster reaching 100% capacity.Auction prices now includes a 40p which bodes well.dyor
I am holding 1000£ shares. I got an email today about auction on 23rd Feb ( share price 4.8) whats the procedure?
Whats the condition of the company ? Do you think company will come back to lse in future?
Indicative price now 4.8p
I have threatened them with making a complaint to the ombudsman and FCA, as there is nothing in the account agreement that states this will happen so are in breach of contract. They are now "trying" to transfer the shares again. I will let you all know how I get on.
So far I am being told that their "back office system is not compatible to transfer the delisted stocks" I cant find anything in the terms of the account to say anything about this. Does anyone know where I stand legally with this?
for anyone who is interested there is an update on the front page of the website.
http://tri-starresources.com/
CEO letter and Asset match update.
Am with IG, says call to trade, have not done so yet... but let me know if you manage to trade/transfer them.
has anyone else had problems transferring shares to a broker that works with assetmatch?
I am trying to transfer from IG to Jarvis, but the transfer has stopped as IG say they cant do anything with the shares.
Good luck at getting your shares itslikeacasino, solid investment in my opinion. However, I do believe our first auction will close at 6p+ as most of us are holding long term on or looking to top up also.
Because there is only a handful of shares available below 3p and i wand 300,000. Also the auction isn’t until the 23rd February and I’m assuming that further bids will come to the table before then. In short I want to ensure that I get mine. I might do better waiting, or I might be worse off. But I’m happy to pay up to 4p for 300,000. Do you want to sell yours then ?
I’m looking to buy up to 300,000 shares. Will pay up to 4p if anyone is interested in doing a deal away from Asset Match
Not this one. I doubt that you will be invited
Hi BoyConlon.
Did you know that everyone is now using Twitter for a Tri Star chat. You have been invited to join the private group
On Twitter it’s faz@hacksupreme.
Bovey
There is a nice TSTR chat group on Twitter. Just ask Faz @hacksupreme to add you.
Have the two new furnaces been installed.?
We are currently running at over 50% capacity, SPMP has a planned shut down for June 2021 then they “plan to ramp up to 100%”
I haven’t heard any news about Worsley carrying out any work, where is this info from?
I believe SPMP will likely become a public share, we either receive share percentage conversion into this company or we are handed a cash buyout. (One that Odey agrees fair value.)
Value will be an easy 40p+ within 12 months in my opinion, Hold tight.
Well chaps...the next six weeks critical
SPMP have had new guy in place for a couple of months.
Worsley are working flat out to get the roaster going ( TSTR / SPMP were going to sue but the cost was eyewatering....so better to shake and make up and let them fix the problem)
We will know very shortly...if all goes well 1,5p will have been a steal
So do holders now own shares in the Ltd company?