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Do we honestly think Odey will be selling his investment for sub 2p the guys a multi million pound business man.
I believe his shares currently that are currently being sold are to 2+ Investors or company’s keeping these buyers under the 3% holding for the time being. I believe these same buyers Odey is currently selling to will want to buy all remaining shares once delisted.
Or Odey is just genuinely selling the shares he cannot keep in a private company, as he feels the remains 58% is worth much more in the private company or potential buyout.
We need to remember the main shareholder here had voted to delisted reducing his shares from 30p-1.5p he could have sold out 30 days ago.. he hasn’t..
I’m struggling to understand how TSTR managed to raise funds before SPMP was just an idea. Now it has been built successfully and operational some trust has been lost in Odey/TSTR just because it is being de listed from AIM to save time/money?
Very sad I genuinely feel guilty they could be putting people of what I believe to be a once in a life time opportunity here..
I felt guilty yesterday that I’m positively talking about this stock and the price falls. All information I have researched just doesn’t justify a share price of anywhere near 2p.
Guess long term investors from here need to just cancel
out background noise/AIM games and just rely on own company research.
As always investors should do there own research and not go by what me/others are stating on here.
I’m in.
I haven’t seen one argument to justify the drop of 30p-1.5p even Zak Mir predicted a retrace to 10p+ just this week and he has interviewed the company in the past.
Finding it hard to switch of this weekend I’m 50% down on an investment I was sure a bargain price of 3p seeing I saw it rise to 6p within 2 hours of purchasing.
I just wish I had more money to put in here, I’m sure the retrace is inevitable now the 3%+ buyers will not have to notify there holdings.
Is it Monday yet.
Thank you for your reply staylong, at least it’s not just me thinking the same. I’ve been driving myself insane thinking what have I missed, de rampers haven’t even given one explanation to why they believe this company is worth nil.
The way I see it SPMP is in the best place at the moment, the last update we had was that the plant was producing and selling up to 50% capacity and that was going to be ramped up to 100% by March 2021.
I’m no expert but the value of the plant has to be well over £200m minus £50m debt - TSTR 16% = £24m
Our market cap = £2m
Absolute minimum SP here of 18p on this basis.
No further funding needed IMO.
It also noted that SPMP was currently in technical default of its current banking facility arrangements with Bank Nizwa and Al Aziz Bank, as the most recent repayment obligation had not yet been met.
The short term funding arrangements being negotiated were intended to remedy that default.
“As part of the current SPMP facility arrangements, on 15 March 2018 each shareholder in SPMP entered into a conditional completion guarantee in favour of Bank Nizwa and Al Aziz Bank,” Tri-Star explained.
“Tri-Star’s obligation under the guarantee amounts to 40% of SPMP’s liabilities outstanding to these two banks, which currently stands at approximately $30m out of a total owed of approximately $75m.
“Tri-Star’s obligations under the guarantee fall away once commercial production of SPMP’s facility in Oman has been achieved.”
The Tri-Star board said it believed that to be the case, as it had been informed by SPMP that commercial grade antimony had been produced, with commercial grade gold dore also produced and sold.
“The guarantee will be formally discharged once an independent consultant certifies to the banks that commercial production has been successfully started.”
At 1121 GMT, shares in Tri-Star Resources were down 59.1% at 14.11p.
Having read this statement, SPMP has now produced commercial grade product. This would confirm that TSTR sp value should now be higher then 14.11p?
To me this share price seems too good to be true, I’m try to work out every outcome but the reality it we own 16.3% of a successful working plant worth well over £150m?
I would be grateful if anyone who disagrees with this could detail how the current share price can be justified?
https://timesofoman.com/article/joel-montgomery-appointed-ceo-of-spmp
It sounds like our 16.3% of SPMP is in a pretty good situation if you ask me..Muscat: SPMP (Strategic & Precious Metals Processing) Board of Directors announced the appointment of Joel Montgomery as Chief Executive Officer as from November 1, 2020. Chief Operating Officer and Executive Committee member since September 2018, Joel Montgomery has been acting CEO since February 2020 following the departure of the previous CEO. The plant in Sohar has recently reached several important milestones, including the successful production and sale of 500t of antimony and gold doré. Sheikh Nasser Al Harthy, chair of the Board, said, “On behalf of the Board, I salute the work accomplished by Joel Montgomery and the team at SPMP over this difficult period to position the business for success. We wish Joel all the best in his new role.”The appointment marks a new chapter for SPMP as it embarks on an ambitious production ramp-up programme. SPMP has recently completed the restructuring of its long-term debt and secured the additional shareholder funding required to achieve full capacity at its Sohar facility. With the appointment of Joel Montgomery, the Board of Directors confirms the Company’s strategic ambition of becoming a leader in antimony production. Joel Montgomery, 46, is a seasoned mining professional with 23 years of experience in the mineral processing and manufacturing industries. A Canadian trained mechanical engineer with a master’s degree from Queen’s University, Joel has held various senior operational, maintenance and engineering roles throughout his career. Prior to joining SPMP in 2018, Joel spent 12 years with the Vale Copper Nickel Operations in Canada and 6 years with General Electric. Joel has served on several boards and volunteer organisations.SPMP is aligned with Oman’s strategy to provide job opportunities for Omanis and has progressively increased its Omanisation rate since inception to reach 42 per cent, with 6 per cent females, exceeding the minimum 15 per cent Omanisation requirement for a freezone company before 100 per cent production.Link..https://timesofoman.com/article/joel-montgomery-appointed-ceo-of-spmpThe more I look into TSTR the more confident I am this is a success story for us investors.
Games are being played now.. wish I could just not look until Wednesday.
Well done to anyone who bought in today absolute bargain in my opinion.
16.3% of a company that has invested £150m+ and currently working at 50% capacity expected to be 100% by March 2021.
All because we’ve volunteered to remove from AIM due to wasted cost/time.
30p+ only 30 days ago with fundamentals exactly the same.
Possible buy out in place..
Someone please tell me the catch!!?
Surprised there’s no buys over £5k? Or are they going to appear later!
We all know how quickly this can move north, hold tight investors!
As the board said at 30p the removal from AIM is in the best interest of us shareholders..
Keep positive people.
Just MM’s playing games for now.. I’ve never been a fan of AIM anyway, we all know the true value of these shares.
Hold.
When a company voluntarily delists, it may not be for negative reasons. This may occur when a company goes private—its shares have been bought out, potentially by a private equity firm, and it could be a sign of good things to come for the company.
I’m going to attempt to try and switch off for the weekend, looking forward to next week.
Enjoy your weekends!
Will Odey buy back a huge amount of shares just hours before the cancellation!? Makes sense to me. If he buys now the price will increase meaning a TR1 and he will have to offer more for remaining buy out once de listed. If he waits for the last day/hours of trading....
Fireworks next week!!
I agree, I can’t see or understand why anyone would be selling these shares below 2p so it has to be only buyers from here now. I’m hoping we exit around 9p.
The lowest price Odey paid was 10p for 12% stake the rest was much higher, I can’t see him selling out without taking his profit.
I’m trying to understand why he has sold 5% of holding that’s the part I can’t work out, and also why are private investors\companies not snatching this at sub 3p or are they behind closed doors? I’m expecting a TR1 soon with a new holder.
I’ve got to admit I just can’t work out how this share price is sub 3p, we own 16.3% of a up and running, working and selling super plant worth millions. Yet our market cap has been reduced to£3m from £30m+ just because we are de listing from AIM?
Yet people was happy to find this venture even before the plant was just on paper, now it’s up running and completed we see a 90% loss on share price.
The amount of money this plant is able to make is insane.
In my opinion we will be offered a buy out once delisted from either the Dubai company or Oman government?
I feel lucky my average is 3p here but I feel this is one of those shares that is worth holding out long term for.
Or am I missing something, how are some people valuing this so low??
Ok, that’s your opinion and I have mine.
I personally wouldn’t be invested if I didn’t believe in the fundamentals.
I’m invested here which is why I’m active on this board, what do you gain from being here.
I’m aware this conversation with you is taking up the news feed and will not be responding to you anymore.
I wish you all the best in your investments.
It’s not so hard for me to deal with, it’s just it will only be long term holders in the group? Deciding if we want to accept 20p offers for our shares etc.
Yeah but you won’t be in it though.. much better Imo.
I will be creating a WhatsApp group for all people holding after Wednesday to stay in the loop, if anyone is interested. I just need to get a spare phone/sim set up, not sure I want any de-tampers having my personal one.
Just an option.
Nice response, you obviously haven’t got an eye for a bargain then. Have a nice day!