Member Info for elroytrader

is cr@p IMO. The projects pages have no details on the JVs or current exploration findings. Have to trawl through all the reports for the info whilst my 2 yr old boy destroys the house. Anyone want to volunteer to be our bb guru and post all their research? Oh, go on...

been here for the last few years who can give us a brief history of TPJ? From what I can gather the previous directors tried to take the company private, failed, and are now trying to shaft the company by demanding 150k in unpaid fees. Is this right?

the 1p probably refers to the nominal value of the shares, which doesn't really matter. Doesn't explain how you got 37000 shares for £500. I wouldn't worry - looks like you got 4x the amount you paid for!

I'll give you ouch - bought more at 8p instead of selling! By the time I noticed it was 4.5p, so I'm holding now for as long as it takes. Still a few sellers and a placement or two to bring us down further. mms clearly swimming in shares as the buys yestreday didn't make a dent. Anyway, I've researched all I can about TPJ and I reckon the current market cap will be laughable in a few years when feasability studies are completed on all 3 JVs. Still sick that I'll be breaking even when some will multibag. Mind you, even I will multibag eventually. GL

has another JV in PNG with another minnow taking 5%...of 570k ozs pa. Barrick, Newcrest, Newmont - these guys don't mess around.

Thanks for your kind words.

spent the last hour with my head in the feckin oven....doubled my holding at 8p instead of selling! lol. Not one of my best day trades. So yes, roll on Thursday (or 2020 when I may break even...lol).

I got out at 8p. Could get there again on Wed/Thurs, and long term this is hugely undervalued. Funding a big issue, but very little debt,and placements could keep tpj's stakes in several World class mines, so will be a positive if done at the right price.

in / out this morning. Could well go further, but I'll be out all day so going for the safe option.

many investors will be wary after a rise like Friday's and no-one knows exactly where this will go. I'll hazard a guess at another 50% rise, though. The PNG projects look tasty. The AGM is looking to raise enough capital for TPJ to fund their part of the JVs and hang on to their chunk of the final income. Otherwise it's 1% of smelter return. So will the resolutions be passed? Will Newmont forgo the loan repayment and chuck a spanner in the works to up their stake in the JV? They will have 10% of the vote. I'm sure Asterion and Strategi will want their loan repaid in 1p shares. So that's another 10% of the vote. An interesting week ahead....

= dire. Hopefully sorted in the AGM, but expect massive dilution. 'Resolution 8 gives authority to allot shares up to an aggregate nominal amount of £10 million'. Not expected to need this much, but something to bear in mind...Then there's the, 'If these resolutions are not passed by the requisite majorities then the future of the Company looks very bleak indeed.' Risk/reward equal on both sides, as always.

other JVs in PNG - with Barrick, one of the world's largest gold producers. TPJ will have only 11.7%, but it could be 11.7% of a shedload. Barrick already operate a 7.7MT mine PNG which produced over 550k oz last year. The there's 20% of this - http://www.goldanomaly.com.au/extdocs/Projects%20Crater%20Mountain.pdf Plus Vietnam.

solg mcap actually 100m. But, yes, I agree mcaps for companies at this stage of development can be taken with a pinch of salt. The Morobe JV looks like a money spinner - Newmont could finance the whole thing to production stage and tpj will still own 25%. Worth more than 10m IMHO. And then there's another JV in PNG with Barrick and another mine in Vietnam. Dodgy cash position, though, so not all that glitters is gold! PS good to see the herd is still following solg. Give me a chance to build a holding!

still less than 10m. Long way to go with this one!

since January. I remember this used to motor 40% every day, but surely this has found true value now.

individuals on this bb prove themselves to be clueless over and over again. Why keep on posting? Or are you trying to get back in lower - clueless in itself if you are trying to de-ramp a FTSE 100 company.

agreed. It's dilution, but not the dreaded dilution we sometimes get. Important thing now is the bank deal. If this is confirmed we will have lift off. News due this month I believe.

my last post had a few errors - if new shares are issued at a premium to the day's sp, then existing holdings aren't diluted - they actually increased in value! To use the example above, if 221m shares are in issue at sp of 23p, the mcap is 50.83m. If 10.5m extra shares are issued at 32p, it adds 3.36m to the market cap. So then we have 231.5m shares and a mcap of 54.19m. This adds 1.75% to the value of your shares, not any dilution. happy days!

so Caldag needs $428m to finance. 300m to be raised by debt, which has been agreed in principal with Societe general, who will also provide a 25m overun facility. The rest will come from equity - the merger with Rusina, placing 268m extra shares at 7p (today's 28p-so at a premium), raised $29.4m. I'm guessing this has already gone, as 78m from equity has been spent on th project already.This merger gave Rusina 41% of the company, but ENK gained a share in Rusina's assets and the small amount of cash Rusina had left after the placement.. But more money was needed - 60m in equity has been raised by the placement with HDL (10.5m shares at 32p, then 83.3m at 44p). Good business for ENK as these are again at a premium. This will give HDL a 30% stake in the project and quite a bit of clout in the board room. It also gives them first refusal on further placements, which I see another is already planned for (another 20m - I'm guessing this is to go towards the 78m that has already been spent as the Rusina deal only contributed 29.4m). I'm not sure how existing holders feel about all this diution - Other significant shareholders include - Citi (3.79%), JPM (3,71%), CRMC (6.18%), Morton Holdings (5.99%), Wellington (4.79%) and Octopus investment (3.43%). Directors hold 2.09% between them. First they had their shares diluted by 41% by the Rusina deal. Now even Rusina will have had their shares diluted by 30% by the subsequent HDL deal! At least ENK managed to place the shares at a premium tot today;s sp. Lets just hope the bank loan comes through...

this has only dropped a huge amount on one day - 10th June - and even that was an intraday drop, so any holders from the moirning were still well up on close. Evrery other time this has spiked, the sp retraced a bit, only to keep rising and making new highs. I understand the warning of not buying on in intraday spike when it is already up over 10%, but find all the SHOUTING THAT THIS IS GOING TO BOMB AND YOU'D BETTER SELL NOW a bit unnecessary. If this does retrace in a hurry, I will sell half at 357 and half at 350, give or take a few points for slippage. If it continues up I will adjust my stops to trigger higher. I think there are a few people who sold too early and want back in....