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Ormonde has similarities with Thor in tonnages (needs more expl work to beef up), so in theory with financing ;) (hint: management) we should see a re-rating of a similar type of 3 - 4 share price increase. IMO

At the same time I was going to go for Ormonde, but went this way instead :(

I don't have much of a holding here ~£50000 and down 30%, not exactly lunch money, but ever hopeful :)

GLA

It is not de-ramping, they need the finance, we all know that. When they do it will be a great company but they need it, management will have to show their negotiation skills to achieve it, give/take on both sides will be needed to achieve a great outcome for all invested parties.

I am invested here and will remain so until the job is done and God it has been a while.

Management it is up to you now, do us all proud to be invested in this great company and opportunity.

I think it will occur once the commissioning is nearing the end (inside talk), teething problems always occur.
Topping up when I can, the spread can be a nightmare !

Unless the management sort the greater construction finance issue out unfortunately this share will go nowhere and worse down, the management are quite safe in their investments and salaries and can wait out long periods. If we get the finance we will all do very well BUT if not...bottom draw.

Sorry fellow investees it is an unfortunate fact.

BacanoraL

Does the L at the end mean Lenigas or Lithium, I mean he does get everywhere !

It is on their website, the name plate capacity of the plant.

http://spmp.co.om/port-of-sohar-project/

I think this is it,

Stakebuilding, mandatory offers and squeeze-out (minority shareholders).

"Once 90% by value of the shares subject to an offer and associated voting rights are acquired.

Alternatively, 100% of a target company's share capital is acquired by a bidder under a scheme of arrangement approved by a majority in number, representing 75% in value of each class, of shareholders attending and voting at the relevant shareholder meeting. "

I will wait and see.

GL and Goodnight All

Takeover code,

http://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf?v=8Jan2018

"The Project will have a name plate design capacity of 20,000 tonnes of antimony and gold per year in combined metal products, representing approximately 12 per cent. of average annual world antimony production over the past five years."

12% not bad at all, no mention of the gold.

"Refractory gold is in the ground gold ore trapped in sulphide lattice structures that conventional processes are unable to unlock. The clean roasting antimony technology developed by Tri-Star sold to joint venture company, Strategic & Precious Metals Processing LLC in 2015 has opened the treatment again of these world gold resources, estimated to be 30% to 50% of remaining gold in the ground."

That is significant.

We should move away from name calling and questioning the honour of individuals it is not very gentlemanly, the management have done a great job getting us all to this point. I feel the management skills of the project has been very good and I feel it will be a great partnership.

Well-done management.

"On Thursday, Tri-Star said it has struck a deal with the holders of its convertible loan notes, involving the balance sheet being restructured, more working capital being raised, and most importantly Odey Asset Management taking a controlling stake in the business without making a takeover offer.

With Odey Asset Management to end up with a 54.27% stake in Tri-Star after the plan has been carried out, it is all conditional on Odey securing a waiver on the takeover rules that would require the shareholder to make a takeover offer for the company due to acquiring such a significant stake. "

A waiver is needed...if an offer is made the highest price of the past 12 months will be used and that should be before any consolidation.

Please correct me if I am wrong, getting rusty in my old age. That is still a significant premium for waiting awhile.

http://www.morningstar.co.uk/uk/news/AN_1496313275822117400/tri-star-strikes-financing-deal-to-see-odey-asset-take-54-stake-(alliss).aspx

They closed the job hiring so they should be all go, all manned up.

As for the $2 million that should be paid up on commissioning and be available to pay off the loan outstanding amount.

So far so good.

On a more positive note,

"The antimony market was valued at USD 1.64 billion in 2017 and is projected to reach USD 2.37 billion by 2023, at a CAGR of 6.0% during the forecast period. Increased demand for antimony trioxide (ATO) in flame retardant and plastic additives application is driving the demand for antimony, globally."

Not too shabby...we will have a slice of that thank you very much...and then there is the gold. OT do we have IP rights to the process, refractory gold deposits are getting more and more?

Sometimes it is best to have a little money ready for an unexpected event, the amount looks reasonable.

The reality phase is going to -hopefully- be shallow as it looks to be, I expect 1 to 3 months.

GLA

I doubt there will be any cash back to us for awhile other than maybe an increase in share price, although I could be wrong.

Typical curve of start ups, we are in facing reality and it looks a good one too :)

https://beta.techcrunch.com/wp-content/uploads/2012/04/screen-shot-2012-04-01-at-9-30-17-am.png?_ga=2.117862667.34101648.1531913809-733278682.1531913809

Woke me up :)

Would be nice though

May be they should rename the company Thaw... because it takes so long to warm up !