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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 I’m wrong
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!
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 it’s 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 it’s completed people like me get in for sub 3p. Not that I’m complaining just seems too good to be true this share but we will see. One thing I am certain of us we can’t go any lower then the current SP so onwards and upwards.
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.
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 you’re 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 :)
I know I’m 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.
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 “expressions of interest” from potential customers which would double the expected combined gold capacity from the plant.
Tri-Star Chair Adrian Collins said: “I 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.
“To this end, we are advancing offtake agreements with potential buyers keen to diversify away from their reliance on the current dominant Chinese suppliers.”
Tri-Star said the plant is the largest antimony roaster outside China.
Collins added: “Additionally, 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%.
“Given 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.”
https://ukinvestormagazine.co.uk/tri-star-shares-jump-after-progress-made-in-oman-operations/
I’m not even sure I want anyone to offer us any buy out, I’d rather just have dividends per annum.
The liquidity event will be prior to any SPMP updates.
I’m sure if SPMP wasn’t working to full potential we would’ve heard about that for aure, no news is good news on SPMP.
Cyberbub.. luckily it doesn’t seem like we’re 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.
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 £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?
I believe the £50k per annum would be for directors wage and £300k for accounting/general business running/xmas party cost etc
What’s to say there’s not more then 1 offer.. it will be a bidding war IMO.
Seems to good to be true all of this at this price for new investors.
I’m looking forward to Thursday when I can relax and at least have some clarification of what’s really going on here.
Still not had any de rampers advising why this share is worth sub 2p.
Regarding Odey and his agenda:-
Imo Odey would see this as a minor investment amongst his portfolio and is tired of the delays over the years and continually having to put in further cash funding. It makes total sense for him not to worry about any possible skeletons in the cupboard on this final journey and reap the reward when at 100% capacity. Maybe there is a buyout or a possible negotiated deal in the future. Hence it makes sense to him to delist on Aim until that time. I don't see any reason for him to pull any underhand trick and upset his fellow market investors.
Unsure if Conlonboy is still around to give you a better insight to the next move? However, if you research his posts on the tstr forum he seems to be the closest to understanding how this is being played.
Cyberbub.. I completely agree the worst case is we get a stupid offer from Odey that he accepts himself and transfers to Odey I believe this is the only risk here. On a positive note, the offer will have to be higher then the close price on Wednesday.
I think a few new investors will get caught short selling at around 5p, it will be patient/long term investors that benefit here and hopefully me.
If we go lower then 1p for this share I will delete all my accounts in shame haha.
PS £350k will be most of their incoming cash ($600k) used up.
Has anyone noticed that in the delisting announcement of 3 Nov they said "running costs will decrease to less than £50k p.a." but in the annual accounts released on 5 Nov they said that their costs to Dec 2021 would be £350k? Anyone got any views why the discrepancy?
Harley I have bought some last week (current average 2.5p) as it's clear that, while we shouldn't ignore the usual investing risks which still exist (execution, political, even Corona), the shares are worth many multiples of 1.5p...
The only thing making me nervous is what Odey's play is. I suspect he will take advantage of this situation to try to screw over PIs like us in some way, for his own benefit. Remember he still has a controlling interest in TriStar despite his recent sales.
You might say from 1.5p it's hard to see a downside, even if he offered PIs 10p and this was accepted, it's still a multibagger. But I'm worried that he will pull some other trick....
Maybe I'm just paranoid...
Cyberbub- you ask as if there is a potential downside to new investors purchasing at current levels. Perhaps you can inform me if I'm missing something? Every potential investor knows it's all about the risk versus reward. I don't believe anyone buying shares in tstr at these levels can go wrong it's simply knowing how much the reward will be.
Harley64 there's no doubt that the shares are worth a lot more than 1.5p... my question is whether people buying today will see much of that gain?
3 potential buyouts with funds available for a mega deal.
Oman government
Dubai investors
Obey asset management
One of these 3 will want to own the beast, will be like a Ebay auction with all 3 most likely.
It does seem to good to be true but the only possible worse case scenario IMO is if Odey asset management offer a buy out of less then 2p and our director which I believe highly unlikely and would be extremely damaging to Odey’s reputation.
I think people need to trust TSTR more, they seem to have been a fair open company in the past. Nothings changed why would they not be looking after all shareholders best interests?
I struggle to understand how investors was more confident pumping money into a project that hadn’t even began yet however reluctant to put money into a slice of the completed successful SPMP at a huge discounted price.
Pros massively out way the cons on this cancellation from AIM, savings of £250k+ Per annum just to be listed on AIM why would they want/need to stay as a public company there final investment in SPMP is complete now. Time to sit back and let the dividends roll in.
"Odey could/would have sold his shares prior to delisting notification for around £20m 30 days ago- he didn’t. These shares are currently worth around £600k on the open public market"
That fact sums it up IMHO, Odey knows the true value of his investment and its far greater.
I’m certain we will have the update from SPMP before end of this December, TSTR will obviously be aware of the current plant production. It all makes sense to me to de register to private company it’s not as if TSTR will be raising any future funds. TSTR’s investment is exactly where it should be now, at the finish line.
The next 3 trading days will be blue..
Rise predictions.
Monday +70%, Tuesday +110%, Wednesday +100%
Our exit price will be around 10p this Wednesday once new investors are loaded and short positions are closed.
I have not seen any negative justifications to why TSTR is now only worth 1.5p per share, also no reason or facts have been posted on this BB to justify why this share isn’t worth 30p+
Facts:
Odey could/would have sold his shares prior to delisting notification for around £20m 30 days ago- he didn’t. These shares are currently worth around £600k on the open public market. - Odey is either aware of a complete take over bid in line, shares will be worth much more as a private company or that SPMP will go public and shares will be worth much more converted into SPMP’s holding with annual dividends.
As always, do your own research.
Good luck to all investors.
I think more and more people are starting to realise now what an opportunity this actually is. I got involved in this about 2 and a half years ago and between me and all my friends and contacts we have probably invested around £400,000 at an average price of 30p. None of us have sold and didn’t even contemplate selling when we knew of the delisting. I have always had a lot of confidence in SPMP.
it’s a world class asset.
(e) Re-registration of a public company as a private company
A public company incorporated in the United Kingdom, the Channel Islands or the Isle of Man may decide to re-register as a private company as a result of which, pursuant to section 3(a) above, the Code may no longer apply to it. If the Code would no longer apply in such circumstances and the relevant company has more than one shareholder, early consultation with the Panel is advised before it re-registers as a private company so that guidance can be given by the Panel on the appropriate disclosure to be made to its shareholders about the implications of the loss of Code protection.