Member Info for chester18

Would not surprise me if the former Founder and CEO of CellRight, Jesus Hernandez saw an opportunity to buy back a big chunk of the expanded company. It has happened many times before. Not exactly sure how much he got in the sale of CellRight but it was least $10 - 15m plus there were future performance bonuses. If we hear that there has been a new large single investment don't count him out of the equation...

Just an observation and totally my personal opinion.

Chester.

Anyone who bought on this dip has done very well. Sadly I'm not one of them but so glad I held firm when some decided to jump ship.

With all the pain we're all going through it's nice to have somethings to smile about.

Chester.

Looks very likely that the funding issue is either resolved or nearly over the line. Not surprised that the news would leak out because its so pivitol to the future of the company.
You can feel the excitement in the flurry of large trades.

Chester.

How many shares bought at 0.54p?

Chester.

I've been told by my son that there are reports that the German figures differ because if the person who has died was terminally ill and had CV he or she is recorded of dieing from that underlying condition. We record anyone who is tested positive to CV and then dies as down to CV.

As has been said only after the human race has dealt with this hideous virus will we be able to compare data.
Now is not the time.

Chester.

In our conversations over the weekend I took an average of all the predictions flying around.
The upshot was as follows :

We definitely already have a minimum resource of circa 10m ounces,probably more.
The average price paid for High Grade gold in the ground is approx $250.
So, 10m x 250 = $2.5b 30% of which is $750m. Divide that by 4206m total shares = $0.178 ÷ by dollar / pound rate 1.24 = finally 14.4p per share.
That is the absolute minimum bedrock value based on all the facts we know to date.
For Numis to publish their updated notes after the 30th April they had better put new batteries in their calculator.......

Chester.

Best line :

" The results to date have been very positive and I believe that Havieron provides a great opportunity to
improve the economics and extend the operating life of Telfer”.

With all the drill cores they have data from and everything SB knows that we don't its still "VERY POSITIVE".....

Chester.

The new Non Executive Chair, Jonathan Glenn has a very good track record and has stepped forward from being a Non Executive Director. He definitely knows his way around finance and having only just taken over he needs time to establish some dialogue with potential lenders or fresh investors.

To settle the finance issue once and for all we probably need £20m to £30m. Which in the current climate is a big ask. Anything less probably means visiting this issue again in 12 to 18 months time.

I'm going to stick with my belief that they can sort this out and hold on to my shares.

If it means selling the business so be it but its ot to be worth at least £30m in that scenario.

Chester.

Nomlungu I've just seen your comment about the market not agreeing that the assets are worth 4p a share.

There is a huge difference between market sentiment and the value in a buyout situation.
Try buying all of the TRX shares on the open market and see how quickly the price passes 4p.
Sometimes I wonder wether people just try to act thick to cause a stir or actually are.

Chester.

Yes, normal costs, wages, telephone, electric.

What BigBear and Watching2 are intimating is that the company is in debt in someway that it takes the company out of business.
Total rubbish. If this is sold and due to Covid19 it is now very likely it will be at a discount to the 10p a share that the large investors put in June 2017.

If there is only one suitor prepared to buy the company then maybe the price would be as low as 2.5p.

It's not us PI's that will ensure a fair deal it's the large share holders......

Chester.

Hi BigBear

Who are the creditors?

CellRight was purchased outright and the company has cash plus incoming revenue to keep the lights on until mid May.
MidCap got their first trance back in full.

So where do we owe money ?

Chester.

Another point that just struck me is :
Why announce these details today and not wait two or three weeks when negotiations could be at a closer state of conclusion?

Could it be that will or have approached the UK government for a £5m loan, siteing Covid-19 as a contributing factor in the companys inability to access funding.

Chester.

Morning Chilll

My main point is that TRX are a functioning company with good products and some very difficult to achieve contracts in place.

There will be companies in the the USA that could acquire TRX like buying a new piece of kit.

Any deal being done by the new CEO will have to be approved by those II's so cannot see a scenario where shareholders come away with nothing.

Chester.

In June 2017 Institutional investors took part in a placing at 10p a share raising £40m.
The RNS comment :
"is likely to result in a material reduction in any resulting value attributable to shareholders"
I would say is aimed at those Institutional investors and not at anyone who has bought at around 1p.
The assets of TRX are worth a minimum of 4p a share so a takeover should be around that price.
This advent of Covid-19 has already change our world and TRX are just one company that fate has affected negatively.

Their products are in demand and will still be in demand once the pandemic is over, it's now a question of who will step in to pick the company up on the cheap.

Chester.

Hiya Violindog

Thank you so much for your post. For those of us who are not connected to the NHS through work or family, any information we get comes from the TV or Internet news reports. Your post brings what it must be like on the front line a bit closer. Can't thank you guys enough for all your efforts and kindness.

I hope that the nation kicks up such a fuss when this is over to make sure the NHS is funded properly. It's about time we all paid into the kitty to afford the NHS we would all want to see.

Stay well and once again thank you.

Chester.

Morning trilla

When the original MidCap deal was announced last June the price was roughly 6.25p. The deal was excellent news but tinged with concerns due to the timelines of the payments, the interest rates to be applied and the fact that part of the deal included the possibility of warrants upto $450k worth.

I can't remember the sentiment of the whole market at that time but the deal didn't spark the SP.

That exact deal put to TRX today would push this share above 2p in a day. Just shows how things change.

What we do know is news on our future is now only weeks maybe days away. I'm still very positive that given the chance to grow with a decent affordable finance package TRX will be very valuable in the future.

Chester.

Hi Paddy

Yes I did the calculation on 30% of your possible 13.5m ounces. My apologies, but as you say a bedrock value of $750m is not a bad place to start. I'm sure GH will get his $1b though...

Chester.

Hi Flashy500

Just over $1b is what GGP's 30% is worth if its 10m ounces @ $250 an ounce.

Chester.

It's really difficult to be accurate about what price for "in the ground gold" NC will offer.
I've read on here that other golf finds around the world prices have ranged from $135 to $475 per ounce. On 13.m ounces that puts the range from $550m to $1.9b for our 30%.

From what we can glean so far, we have definitely past a minimum of 10m ounces and the approx average deal would be circa $250 per ounce which gives GH his $1b.

Let's just use that as an anchor to all our discussions.

Chester.

There has to be room for all opinions and comments on any board, the only proviso that, as Kenny Everett would say, that its done 'In The Best Possible Taste' ............ I think that character was called Cupid Stunt....

Chester.