Latitude Resources Share Discussion Threads

[rochdale] 06/8/2007 10:37

tick up today - nice

news imminent?

big buyer in the wings?

[loinerscum] 03/8/2007 17:32

Oooh Errr thats a big pair! Fnarr Fnarr

[rickus] 03/8/2007 17:01

Two more big ones at 4p

[cerrito] 02/8/2007 18:51

Loinerscum
Thanks for the clarification. I was going on the basis that this deal will not close for some time and that it was good to know in last week's markets that someone loved them ; your logic fully understood.
While Western is less important given the recent sales, good to see that they came up with an upbeat second quarter statement although it did nothing for the share price.

[rochdale] 02/8/2007 16:27

tick up and a buy of 500,000 - is that about £15k?

be good to get this circular from LTR

[rickus] 01/8/2007 08:15

From 5 July RNS:

"Completion of the sale is subject to certain conditions, including final due
diligence and the approval of the Company's shareholders. Shareholder approval
will be sought after the final due diligence has been completed and further
details of the transaction will be provided at this time."

Wonder how long final DD will take and what further details will be provided.

[shoggoth] 01/8/2007 06:02

Excellent - Tamaya is now down to 28c. I was concerned that we'd get the shares on a spike and have to carry the downside.

[loinerscum] 30/7/2007 16:32

Frankly Cerrito, Latitude shareholders should want Tamaya shares to dip further because the value of Tamaya shares which will be issued is capped at A$24.7 million, which equates to around 29cents per share. Above that price the number of shares tails off; if when the deal is ratified Tamaya shares have recovered to last weeks high of 35.25 mid, LTR would only get 70 million Tamaya shares rather than 85 million.

I certainly know where I'd like to see Tamaya shares for the next few weeks, thats below 29 cents, I've pasted the detail below for anyone interested.

Cheers
Andy P


The consideration proposed is 85 million fully paid ordinary shares in TMR and
15 million options. The 15 million options are to be issued in three tranches of 5 million options each with exercise prices at A$ 30 cents, 40 cents, and 50
cents respectively. Each tranche of options may be exercised between 12 months
and 36 months of the date of completion of the transaction.

The share consideration for the disposal is valued, at yesterday's closing mid
market, at circa A$ 22.0 million (£9.4 million). The number of shares to be
issued is subject to the TMR share price shortly prior to completion but the
aggregated value will not exceed A$ 24.7 million (£10.5 million).

[john boy walton] 28/7/2007 09:08

Looks as though those annuals came out after all.

One wonders if a sell up and divi is on the way here.

[cerrito] 27/7/2007 21:20

Good to see that Tamaya closing today at 31.5 has kept its head up and I guess we should be grateful that Western has not fallen more than 2.6

[kickstart] 24/7/2007 16:59

Well the volume is building lets hope we get the rise that usually follows.

[rochdale] 21/7/2007 09:24

those summer annuals - they stop me getting anything done for a good month when they come out

[john boy walton] 21/7/2007 08:05

Trouble is that whilst it may be in Latitudes best interest to get things done on the deal ASAP it is not in Konigs or Rowlands nature to walk quick let alone work quick.
No sign of the circular as yet but I contacted them on Friday and they assure me that as soon as they have finished reading this weeks Beano & Dandy it will be their top priority, as long as the summer annuals don't come out next week.

[shoggoth] 21/7/2007 03:26

k - but the value of the Tamaya shares are capped at around 10.5M (equivalent to around 30c). So as long as it remains in an uptrend it's in Latitude's interest to get the deal done as quickly as possible.

[kickstart] 20/7/2007 09:42

I notice the price of Tamaya creeping up closed last night at 32c and Western Goldfields up 3.5% to $2.99. LTR looking cheaper by the day.

[scrod] 19/7/2007 08:04

Good find Shoggoth

[shoggoth] 19/7/2007 01:18

Article on Minesite, please note the reference to Blackfish, and NAV of 6.5p.



"Investec owns 15 per cent of Latitude and the Rowland family, who made their money in property, own an 18 per cent stake. In the longer term it seems highly likely that the future of Latitude will become more linked with Martyn's other position as joint manager of the newly launched Blackfish Investec Resource Fund. Ownership of the fund is split between Investec and Blackfish and takes an innovative approach to mining investment.

For a start it has very demanding hurdles on what it expects its investments to return, and that rules out a lot of projects to begin with. More interesting, though, is that each long position in a developer or miner is balanced by a short position in the relevant commodity so that the fund is not taking metal price risk. It is investing solely in the underlying resource and the management of it. At the moment the fund is low key, but the idea makes a lot of sense and will surely attract a lot of attention before long."

[shoggoth] 17/7/2007 09:13

Question: if they can get over 50% on board, will an EGM be required?

[rickus] 17/7/2007 09:09

"It is noteworthy that the management have very few shares."

I believe that some of the larger shareholdings have management (or ex-management) connections.

As at 30 June 2006 the Company was aware of the following substantial share interests:
Ordinary shares %
Aktiva Holdings BV 40,000,000 14.84%
Investec Bank (UK) Limited 40,000,000 14.84%
Resourceworks plc 40,000,000 14.84%
HSBC Global Custody Nominee(UK) 17,833,500 6.62%
Roy Nominees Limited 13,500,000 5.01%
Fiske Nominees Limited 10,679,705 3.96%
R B Rowan 10,431,470 3.87%
Vidacos Nominees Limited 9,570,800 3.55%
Morstan Nominees Limited 9,450,000 3.51%

There's been a few holdings RNSs since then - mainly institution related.

I guess they know they have plenty of the big shareholders on board already. Will be interesting to see which members of the current management team are to stay with them. Many of them have a reasonable number of options - quite a few of the 4p ones expire over the next 6 months and there are various 5p options until 2015.

[rickus] 17/7/2007 08:35

Shoggoth - agreed.
Anyone know when we are going to get sent more info?

[shoggoth] 17/7/2007 08:07

TMR now 30c, the upper limit above which the number of shares that are on the table for the deal will be decreased. At this rate, it would be better that the deal gets done as soon as possible.

[rickus] 13/7/2007 07:33

TMR current price is 28.5/29c
Volume over 9.6 million

[shoggoth] 13/7/2007 01:59

The number of shares in Tamaya will be subject to the price if and when the deal is completed. Assuming a simple pricing model, the upside valuation of 10.5M comes at at price of about 30c. As gold and gold shares are rising, it should focus the minds of the people involved.

[shoggoth] 12/7/2007 16:55

Tamaya are indeed a small cap, as Latitude is a micro cap. There were 51.6M shares traded today in TMR around the 0.27c level (about 11p). That's GBP5.5M worth. The price ended flat!