Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
All looks very good. Anyone that got in at the closing price or under will be laughing IMO when this starts trading again.
If that were the case how did BEH manage to negotiate 50% in the new company??? must have had some decent bargaining power.
The contradiction in the emails was that one was willing to say end of year where the other stated no timescale had been attributed. Or is that not contradictory mate? Where did i state the transaction would be complete by year end? But thanks again for trying to dumb down for me. Your posts are very patronising mate. I was sharing that information as requested by another poster and as you can see only picked out snippets. I am more than aware that the companies cannot release price sensitive information to anyone especially private investors like you or me. I simply asked each if a timescale was present to reinforce the article referred to in the shares magazine as stated by the poster on here. If not appreciated by you, that's fine mate. Hopefully others do.
Bayfield stated 'At the time of the announcement of the Bayfield/Trinity transaction it was anticipated that it would be complete at the end of the year.' Trinity stated 'The full information on the enlarged group will be contained in an Admission Document that will be published and available to all shareholders as soon as practicable.' When i pressed further on a timescale they stated 'i'm afraid not' e.g. one didn't exist or it does but they won't say Imo, I think we may here something before Christmas but the suspension won't be lifted until the new year.
I know, just a bit of banter. I got a response from both Trinity and BEH today, each contradicting each other somewhat.
Surely you don't have that much stuffed in here squire? You could just get 4 cans of special brew, then happy days.
Not received anything since my previous correspondence as posted on here. I would have thought investors of bayfield / trinity should be the first to know if trading was to commence in December not a shares magazine.
Thanks, very interesting.
I would hope so. I'm sure Linkedin will provide the answer. Hopefully if she responds to my last query i will ask re. their 2P.
Correct, pat on the back it confirms your answer. Also now i have a contact I can ask a few more questions that you don't have the answer to.
I e-mailed Trinity regarding the production query that was raised a couple of weeks back and this was their response: "Dear X, Many thanks for your interest in Trinity Exploration & Production. As detailed on the company’s website, Trinity is the holder of seven lease operatorship agreements. Its production from these leases is captured in the “PTRIN (LO)” column of the file you reference. Trinity is currently producing approximately 2,370 bopd (net) as per the RNS you reference in your email. I appreciate there will likely be many questions on Trinity given it is a private company and that is why the Bayfield shares are suspended. We are currently preparing an Admission Document which will be posted to shareholders in due course with full details of the enlarged group. Kind regards, Catriona Catriona McDermott Director Brunswick Group LLP, 16 Lincoln's Inn Fields, London, WC2A 3ED, United Kingdom"
Guys, Not sure if this has been highlighted but was on the media / news on the Trinity web-site. http://www.trinityexploration.com/wp-content/uploads/2012/09/Trinidad-and-Tobago-Positive-indications-for-2012-deepwater-bid-round-September-2012.pdf I like this the best: 'Finally, Trinity Exploration is a local junior entirely focused on Trinidad. Formerly known as Ten Degrees North, the company has ambitious growth plans and spent much of 2011 raising capital from private equity investors. It has produced small quantities of oil from some of the country’s mature areas for many years – current output is around 2,500 b/d and it has ambitious plans to grow that to 10,000 b/d by 2015, as well as turning its attention to deepwater exploration. It has placed a joint bid for TTDAA 5 in partnership with Cairn Energy.'
IMO Petrotrin will not go back on this deal / discount on sales as BEH are merging with Trinity not being takenover in as many words and the relationship with Trinity seems just as good if not better than BEH's especially with having someone in the management who used to work for Petrotrin.
I meant to say 'granted XEL have nothing to do with T & T'
Thanks, so if BEH listed at £130m expect the new company, in this market to list around the £150-200m IMO if you look at the likes of RRL and XEL, granted XEL having the to do with T & D and are not in production yet but are valued at £300m & RRL 115M. Plus the new company will be producing near enough 4000bopd which equates to $131m / year in revenue. BEH drilling liabilities $100m to 2015 however if you add on both the companies reserves and cash as well as the equity to be raised, which will be done before listing IMO this is how i get to the above listing mcap. I would imagine we will get advanced notice of the listing through an RNS the week before stating something on the lines of 'Shares in the new company will resume trading on the AIM on x date' They will also want to do a bit of PR around it. As I think JemJem on ADVFN said they will want to make sure it's a success and the more media and PR behind the listing to make everyone aware of it can only help IMO hence the interview on the Trinity web-site.
Very good post 18:56. I have little experience but an investment i know fairly well in Australia called DNi, they are currently in the process of carrying out a RTO of Wintech. Wintech's shares are suspended just like BEH and have been for over 12 months now if i can remember as they are at the mercy of DNi and when they want to re-list. DNi have decided in the past 2 months that they are going to re-list and have started putting all the paperwork together including the change of company name and notifying of major shareholders and the BOD's share allocation. DNi are currently acquiring all the outstanding shares of Wintech which is due to take another couple of weeks at which point all the necessary paperwork, name of company, market cap and shares in issue etc should be in place. I imagine all the above will apply to Trinity when acquiring / merging with BEH and re-listing. A RTO is the best vehicle for Trinity as I imagine it saves a lot of cost in listing as a separate entity on the AIM. Also further to speaking to my account holder i can confirm that they no nothing more then we do regarding the acquisition / merger nor what my average may be, thus we are all at the mercy of the new company. My thoughts regarding Mossy's comments are that they are incorrect as we do not know what the new market cap of the company may be. It could be 100m it could be 150m what we do know is BEH will have 45% of it. Just out of curiousity what was the mcap of BEH on listing??
I don't think that drop in share price will be a problem when the RTO is complete and the new company listed. However i am always the optimist. GL
Well done calling the dd behind the scenes, even if it was a guess ;-) no fair play, got to be honest didn't see a merger coming. Would be good to see if we can try and put a value on the new company to get an idea of the placing price.
True. We will know more about this once the RTO i guess. You are right it doesn't seem to fit with the companies strategy i imagine it will lapse or keep on the back burner pending any need to explore / drill within a specific time frame.
Trinity's chairman and CEO discussing merger: http://www.trinityexploration.com/?p=302