Member Info for seaace

ECR are worried about the Auditors report They can claim what they want, but having opted out, they have no say. Unless there is a change of heart from the Philippine Gov, no one can do anything without an EP so its just wishful thinking they can force Tiger into a corner, something Brown is conveniently forgetting to mention. At the moment, Tiger is just a shell company and unless they find a new project which will require a cash raise on their part, as stated, ECR's 25% is totally worthless. Even if Brown wanted to approach the P/Gov it would be pointless as he has no stake there having surrendered control. IMHO, I think he will be after a greater holding in Tiger to the extent of getting a seat on the board and then try to influence the P/Gov as, with the current situation, he and ECR have no say what Tiger should or shouldn't do..

Having done a bit more digging. when ECR ceased in having a JV status with Tiger, the terms of their leaving were not conditional but instead left on unconditional terms. Why does this matter you ask. Well now as Tiger are back in the driving seat it means they have the right to spend whatever they feel is necessary confirming the finding of the information gathered which led to the issue of the NI-43-101. Any monies Tiger now throw into the mix, if they so choose, will be weighted against the spend claim of ECR and it appears, if the final cost down to ECR is less than $500k, they lose all claims against Tiger and their holding in Dangley ie, the 25%. This is why it is so important for the Auditors to get involved so that the truth will out regarding the spend claims of ECR...

Furthermore, the expenditure in the Philippines needs to be audited so that every cent can be accounted for with all necessary documentary evidence. This smacks of a placing in the wings so they can meet their audacious salaries at shareholder expense...

The RNS isn't worth the paper it's written on. Brown is claiming 25% of a DEAD project as the EP wasn't granted which means he's openly saying he has 25% of nothing. Putting a value on it is misleading, and although he claims Tiger are being obstructive, he should be aware that he himself has refused to talk with them when he can't be bothered or is asked sensitive questions. If you can remember, Clayson purchased a block of Tiger shares hoping to take control (some 328K shares). Brown was offered a price to sell these shares but for some reason, he never informed shareholders of this offer, instead concentrating on spouting about what they entitled to although they pulled out of acquiring the mining licence once the Philippine had blocked the EP. It will be interesting when the Auditor gets involved to see if any monetary value can be attributed to Dangley.

Re the Dangley project, what value would you expect a sale of it to raise taking into consideration Tiger's last trade was at 7.5c in 2015 and that unless ECR use their capital to push for a new EP, which is very doubtful will be a success, is an encumberence as they have thrown in back into Tigers hands.??

Don't know about you lot, but once the SP has settled, I intend to build my holding until I have at least 100K. The more that is taken out of free float, the harder it will be for the markets to screw around. Plus there is the benefit of handsome divi payments in the future, and as most will be in ISA's there's no tax to pay...

This dividend payment will only cost the Company £151 million leaving £850m odd still in the bank. Now what would be the value of a Company that had an IPO saying they had £859 million in the bank and producing assets in excess of £1 billion and there only 888 million shares available. Bet it would be a damn sight more than they value it today...

As there are 880m shares in circulation, this will give a market cap of £8.88m per 1p. It will therefore be interesting to see what value the market places on a +£2 billion Company which continues to grow at a very positive rate. At 45.5p at the moment, it seems they think that its worth £404 million, and that's before they use the excuse of the dividend to drop it further. If they drop it by the 17p (divi) this makes it valued at a poultry £248 million (28.5p) which is where I suspect the owners will start jumping up and down and may even move to another exchange as there is no way on earth you can justify buying and selling shares at on tenth of its real value taken into account that the amount of capital it actually has in the bank. Earnings per share have risen from 6.6p in 2014 and practically doubled in 2015 to 13.1p and represents a staggering 45.9649% should the price indeed drop to 28.5p per share., and at this rate the Companies dividend payments in the near future will be worth more than it share value. Now, how stupid is that ???

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Not sure which market I went through, but price was 54.6p, so more than happy...

Well you can add another small buy of 1150. Idea is simple. Take divi to help recover costs and stick shares in the bottom draw. Win win really...

Maybe its just too announce temporary funding for the well as they wait for the $7.5 mill in back costs to come through which if so, would indicate that it will be drilled sooner than later.

Someones about to be spanked... HARD!!

Company Statement www.investegate.co.uk/article.aspx?id=20121128170029M7433&fe=1

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Depending on announcement, you may well read that the Co may go horizontal...maybe a hint at fraccing to open her up. Just have to wait and see. I'm still positive. Happy days

I'm here mate.