Member Info for Wassatt

Finals are NOT late. Last 2 years brought forward as they had to be for what was going on. IGNORE the obvious speculation and myth A company is legally obliged to provide news if it is material, silence isn�t always a bad thing. They do have loads of time to push out finals � What they going to say � We know have an update so no real hurry is there??? Ignore the obvious speculative posts � They are NOT for the greater good.

Please note, this is from beyond, not me fatherelmer and pbody You are 100% right. No dividends till the year 3030. Odey�s will redeem loan and wipe out all PI�s. So best you both sell all your shares right now that way you get something. Why wait for what you are predicting? You two, sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell sell now or you won�t see a penny�. If I was not clear � You 2 need to sell 100% of your holding before June 2018. From (one step) beyond�..

Who do you think owes who the $3 mil? 29th Nov 2017 RNS: Terms of the SPMP Mezzanine Loan (spmp LOAN) $6 million to be invested in SPMP by way of unsecured mezzanine finance subordinated to the existing $40 million senior debt facility; 24th Jan 2018: The terms of this $2.8 million SPMP Mezzanine Loan are identical to the existing mezzanine loan Tri-Star invested in SPMP in November 2017. 22nd March 2018 The Project is based in Sohar, Oman and is being developed by SPMP, an Omani company in which Tri-Star has an equity and �mezzanine debt� holding. So TSTR have provided a mezzanine loan to SPMP. Not Odey�s to TSTR. It just means SPMP have to pay TSTR at same time as bank � So bank loan is not preferential over TSTR�s loan to SPMP. So if Odey�s call in the loan they get a % of SPMP which goes to TSTR and YES then TSTR owe That�s my reading and understanding of the situation, Odeys have protected their investment against banks grabbing money first. Who do you think owes who?

$70m of SPMP debt (of which a good chunk has been rolling up) at 15% means there is quite a lot to pay off before any profits are declared Who said bank debt is at 15%???? Nowhere has that ever been said. Also have you stopped to work out revenue? The plant will churn out revenue of around $236 mil per annum at 20% margin that�s $47 mil per annum. That�s 1.5 years to pay back $70 mil. Now if I buy a house for $1 mil and put $500K down and loan $500K what is my equity? Its $500K If I pay say two years of $100K what�s my equity in the property (all things being equal). Original cost $1 mil Loaned $500K Paid back �200K Outstanding debt $300K Sell for $1 mil Pay back loan my equity = $700K It�s really quiet simple � Profits diverted to pay back loan rather than dividends �Makes no odds � Future years are then at 100% not 100% - loan payments. It is fairly simple when you think about it!!!

23% up, nice one In the words of a poster here a while ago Come on Train

Not so much fun though ehhh

Sorry, wrong place

I've just worked it out that I've almost made enough profit buying and selling this month to pay my annual golf fees ....yeah

No, you're desperate not me You have a negative vein running around your body, and it shows. Never see any positive posts from you, but you're always quick to respond to people who do try to provide positivity. Try it some time, it might make you think differently

Good morning all

It will depend if harmony is needed and I don't think SPMP will appreciate discord...... so it is a possibility of extension

I'll answer your last point Don't forget that SPMP still have to make a $2M payment (the third tranche) upon commissioning, so that will help the case.

Does the RNS confirm Odey�s have a mezzanine loan against SPMP and NOT TSTR??? The Project is based in Sohar, Oman and is being developed by SPMP, an Omani company in which Tri-Star has an equity and mezzanine debt holding. So if Odey�s call in the loan they get a % of SPMP? I thought todays RNS was a little more positive (while some things are still unclear so not 100% happy!). All finance now seems to be sorted (no more cash calls, OO�s or Nobodys The concentrate handling shed and concentrate dryer, is complete and ready for cold commissioning. PROGRESS. Negotiations are also underway to sell the antimony metal to key customers and the gold dor� to a gold refinery � PROGRESS. The plant is due to produce its first antimony metal in June 2018. While we need to treat this with caution as any project gets closer to close timescales will be better know, so maybe end of June or July, BUT is it really a problem if its early August? I am confused regards SP though! Before OO it was sitting comfortably at .14 divided that by 3.25 (additional shares) and SP would have been .043 we are still way below that despite some PROGRESS on site, commissioning and finance? Very difficult as an investor to comprehend why with progress and what looks like no more ����s required it is sitting 25% below relative SP before OO???? Surely with news finance is sorted, some sort of firmish date for production and negotiations on sales underway you would think it would be sitting far higher than pre-OO??? A 34% rise from .32 would only take it to pre-OO position!!! #confusedfrombeyond�

I have never read such nonsense in my life as from pbody. Let�s look at the logic here? it would seem that odey get a progressively larger amount of equity because of a low OO than would have been the case had a more realistic OO price been set and say 6 or 10 million in cash had been raised and the loan payed (sic) back in full from the cash surplus. THEY COULDN�T GET PI�S to participate at .000001 how would they have got them in at a higher OO Price??? At a higher OO price and raising double they would have ended up with a larger % - What nonsense. And they probably would have not gone to PI�s at all, so in effect a lower % in free float. Sorry but I can read between the lines and there is an ulterior motive to Nobody and it�s not for the greater good of tstr. Odeys could have let the loan expire and hoover up ALL shares, had PI�s taken up full allocation Odeys WOULD NOT have increased % - Its PI�s fault NOT Odeys. End of conversation as far as I am concerned it�s hard to debate illogical discussion���. As always from beyond.

One question: If every PI took up their allocation in the OO what percentage difference would Obeys have got? A clue its between 0 and 0. It�s not Odey�s fault PI�s didn�t take up full allocation is it? From beyond�

Now Pbody is just getting ridiculous � She is soooo obvious in her intentions. GOOGLE things you numpty, how do you think everyone else working in the Port of Sohar gets to work. Port of Sohar: With the existing road network, deep-sea port, airport and planned railway system, companies in Sohar can target India, the Middle East, China and South East Asia while enjoying direct access to Abu Dhabi, Dubai, Al Ain and Muscat, as well as the biggest consumer market in the region, Saudi Arabia. Looking ahead, a US$60 million deal with a UK-led consortium will see SOHAR house the largest rare earth metal plant of its kind outside of China. Surely you can operate a mouse to search the internet, or not smart enough to? From Beyond, and don�t start with the I was just asking, your intentions are obvious even from afar.

Fatherelmer I think you are using two separate numbers there. 1. Revenue 2. Profits (10%). The revenue is the revenue even if it goes to paying down the bank. See my earlier e-mail regards house buying. I think TSTR will account for 40% of SPMP revenue in their own accounts? Could be wrong but! While two separate organisations SPMP and TSTR are inextricably linked. SP is very depressed at the moment just to get back to days when it was around .018 would equate to .0055. So we are seeing a depressed SP right now, primarily due to lack of news and uncertainty (SPECULATION from the nobody�s). Question: Why would a company with an annual turnover of �73,168,000 be valued at less than one years revenue, with 20 years of that revenue to come? That�s .00115 3.6 x where we are now. Yes it means have to be in full production but that should be less than 12 months away.

Fatherelmer, I model on TSTR 40% of total revenue of SPMP � I am sure that is what will be shown in TSTR accounts. Reason � Lots of companies don�t make a profit so if on profit if you make none is the MCap zero? Now saw a conversation around loans outstanding and SPMP dishing out the money etc. 1. TSTR have 40% of SPMP BOD 2. I am sure OIF and DNR will want as much dividends as possible 3. On paying down loans surely the SP will rise Stay with me on 3. above�. If you buy a house for �1,000,000 and take out a �500,000 mortgage you have �500,000 asset. If you pay down �100,000 and the house is still worth �1,000,000 your proportion is now �600,000, etc etc. So paying down loans before dividends in my opinion makes no odds. If we pay $20 mil off loans rather than issue dividends I would expect the SP/MCap to rise. Very simple I know there is more to it than that but I like to keep it somple so �nobody� is excluded from understanding. I think currently the FTSE 100's p/e ratio is 33, the historical average is 15. So somewhere in between? No perfect science here I think. Yes �nobody� said we are not FTSE100 � I know I know�.

Hmmmm no increase in SP then

Not much I shouldn't think if I'm honest. At the moment it's between China and the USA (mainly) Although miners have been affected, we aren't one of those now either