Member Info for Harley64

I've been invested here since March and yes it has been frustrating as it feels such a long process at times. However, things come to he who wait and odx appear to have all bases covered. All that is now required is confirmed orders to start the sp rising again imo.
Gla

Are you invested here Bo-aim or just running commentary?

Just topped up also another 77k.

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- 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.

"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.

Trickydicky - I wondered where you have been it did not take long for you to come up with a new alias!
But glad you finally made your choice and good luck to your future investments.
Lol

Most LtH know the reality and the potential of SPMP finally running at 100% capacity. There was major excitement and relief when back in November 2019 that it finally went into production. Unfortunately it took far longer than expected and mistakes were made this all comes at a significant cost. It was then that Spmp bod requested further significant funding and Tstr did not contractually beleive they required to put in there share. The talks between tstr and spmp broke down and possible lengthy arbitration was being sought. Fortunately, they all got round a table and hence the final agreement was recently made. With the lack of funding and covid it halted production. Now all funding and lending has been secured to allow Spmp to ramp up production with a new ceo. Yes Tstr reduced there holding from 40% down to 16% but with an agreement in place that they are not subject to any further raising of funds going forward. Also importantly for shareholders no further dilution of shares.
Most Lth have entered at 30P + and Odey,s average has been calculated at around 34p. So you just need ask yourself what the value will be for tstr at the end of Q1 or H1 next year?
Gla dyor

Tradehobbs - I came up with that exact calculation that at worst ways the sp should be 18p. Nobody is missing anything and Staylong is spot on as to the reasons for current sp. It would be very difficult for new investors to get there heads around this investment as it sounds to go to be true and many will not be prepared to wait.
Gla

Out of interest Jolly are you invested here any more?

This may help you:
Tri-Star & SPMP Valuation

I previously issued a valuation analysis for SPMP and Tri-Star (see previous posts). Ultimately the fundamentals driving the overall valuation of the SPMP business have not changed, although the investment input required to get the Plant over the finish line have increased as explained above.

Current overall investments by all Shareholders has reached $206 million. In addition there are outstanding bank loans of $57million, to which all parties remain as guarantors (in proportion to shareholdings).

Projected future Revenues (Antimony and Gold ore) by SPMP will be in excess of $200miilion per annum. On a conservative valuation of SPMP at 3 x Revenues then the SPMP Valuation is $600million. In reality once fully commissioned and operational it will literally be a #goldmine# and its valuation should be 5 X revenues or $1Billion per my previous analysis.

Tri-Stars current valuation of Assets comprises its core investments to date of $34million plus its balance sheet Net Assets of $13.7million. This gives Tri-Star a current valuation of $47million versus its current Market Cap of $35million (£28million at end September). That's a 34% premium to the current SP of 30p and should in fact be upwards of 40p.

Once the SPMP Plant is fully operational then we can use the appropriate business going concern valuations above. Tri-Stars valuation in 2021 based on an Operational Plant will be a minimum of 16.3% of $600million or $97.8million. For the sake of brevity lets just round up the numbers and make it a $100million valuation. That is the valuation projected in the next 6 to 8 months. And to put that in £ and pence an SP of 85p.
dyor

Wow Mibo overtime last night and an early start - they must be paying you well !

Maybe a FB TSTR chat - it will open it up further?

MIBO - Are you talking about tstr or yourself?

I've noticed a couple doing the same on other tstr chat board.
Turtle - unfortunately they are not paid to think..

Mibo it is clear that you have done any research on tstr. Why do you waste your time posting as nobody is interested in your views..

Furthermore Odey would have been well aware of the situation prior to suspension and would have had ample opportunity to sell when SP was at 30p.

Spot on Turtle - Odey will sale when its up to 100% capacity. The best part is that no further funding is required by tstr, the shareholding in Spmp is now fixed no matter the cost.

I agree with you Moon the last of the forced sells that could not be held by the Odey fund. I will be holding no matter what.

Was expecting this tr1 to come soon, the chains are off.