Latitude Resources Share Discussion Threads

[hosede] 08/8/2007 13:11

Another 2 million buy - It does look as though we may be thru the worst and on the up - fingers crossed

[suahb] 08/8/2007 11:15

well well, some pace beginning. I knew something would happen when i sold at 3.75 100K!!

[charles m] 08/8/2007 11:04

another holdings RNS.
with investec and resourceworks both tied at the hip, it can only be a matter of time before the concert party rules take effect and that bid appears.
my bet is still 6p minimum.

The Company has received notification from Investec Bank (UK) Ltd that as at 6
August 2007, they had a beneficial interest in 45,750,000 ordinary shares of 1p
each in the Company, which represents approximately 16.97% of the issued share
capital.

[charles m] 07/8/2007 15:45

thecynical1 - 7 Aug'07 - 14:12 - 721 of 721

Do you agree about going private?

[thecynical1] 07/8/2007 14:12

well spotted Charles !!!!!! ; )

[charles m] 07/8/2007 14:11

so that news relates to 4 days ago then?

who was buying yesterday then, the same people?

MBO and take the co private. It wont be under 5p that's for sure

[loinerscum] 07/8/2007 13:54

Thats great news, they've increased their position by 3 million shares since March.

Investec are very closely associated with Martyn K having bought into LTR at the same time as Resourceworks (at 5p per share). Apart from the stake in LTR, Investec co-invested into Western Goldfields (where MK is a non-exec) and provided the $100m+ debt finance to develop the Mesquite mine. They are also partners in MK's hedge fund Blackfish-Investec Resources Special Situations Fund.


I don't personally think this stake is the hedge fund, rather its Investec themselves.

I take this as a very positive indicator.

Cheers
Andy P

[shoggoth] 07/8/2007 12:27

So they have taken a long position in Latitude, and expect to average 750% per investment. Have I read this correctly?

[shoggoth] 07/8/2007 12:06

That'll be Blackfish, the hedge fund that Martyn heads with Investec.
I kind of guessed this would be the outcome. Blackfish invest in undervalued companies in the resources sector, and the criteria are strict.



"Investec Bank and Blackfish Capital Management launched a long/short natural resources hedge fund on March 1 with a plan to raise $300 million over the next six to 12 months from undervalued stocks in the mining and resources sector.

With a $40 million Equity at Launch, the Blackfish-Investec Resources Special Situations Fund's prime broker is Goldman Sachs, with Walkers as Law firm and Butterfield Bank as administrator, Kinetic Partners will Audit the new hedge fund.

...the hedge fund strategy will be to achieve absolute returns through strategic investments in the small to mid-cap resources sector focused on value opportunities on the long and short side. The manager will trade the underlying commodities to provide a hedge to the market, actively managing commodity price risk."

[suahb] 07/8/2007 11:58

interesting stuff.

[charles m] 07/8/2007 11:49

mmmmmmmmmmm

I can see a bid coming, 6p would be my guess.

[scrod] 07/8/2007 11:14

RNS Number:6470B
Latitude Resources plc
07 August 2007
Latitude Resources plc

Notification of share interest

The Company has received notification from Investec Bank (UK) Ltd that as at 3
August 2007, they had a beneficial interest in 43,000,000 ordinary shares of 1p
each in the Company, which represents approximately 15.95% of the issued share
capital.

[rickus] 06/8/2007 18:20

Probably not down to this but it might have helped - an announcement from Tanami (nb not Tamaya) overnight:

Coyote Gold Project - Increase in Gold Production

6 August 2007
The Manager
Company Announcement Office
ASX Limited
Exchange Centre, Level 4, 20 Bridge Street
SYDNEY NSW 2000

Dear Sir
COYOTE GOLD PROJECT – INCREASE IN GOLD PRODUCTION
The Directors are pleased to advise that the forecast increase in gold production is being achieved at the Coyote Gold Project as Pit 2 deepens.
The mining of Pit 2 is progressing well with a 120 tonne excavator being used to mine waste and a smaller excavator being used to selectively mine ore thereby minimising dilution. With the ore in Pit 2 being near vertical, it is being cleanly excavated by slot mining the ore in advance of waste removal as shown in the photo below (NOT COPIED)
Tanami Gold NL 2
With the increased ore grade and high recoveries being achieved in the modified treatment plant, the highest level of gold production to date has been achieved during the past two weeks with 34kgs of bullion being poured. A total of 1,844 fine ounces of gold was produced during July 2007 with increasing gold production forecast as the open pit deepens.
The latest parcel of high grade ore treated from 20 July to 27 July 2007 was made up of 6,570 tonnes at an average grade of 4.0g/t gold with the highest daily grade of 6.8g/t gold recorded on the last day of processing the high grade ore.
The tonnes and grade of ore from the last bench mined and treated is very pleasing as it is expected that as the pit deepens, there will be an increase in the tonnes of high grade ore from each bench which will enable more tonnes of high grade ore to be supplied to the plant for processing in coming months.
The mining of the open pit is scheduled to reach the decline portal depth late 2007 following which the decline will be developed to provide access to the higher grade (+12g/t gold) underground ore scheduled for the end of the March 2008 quarter.

Yours faithfully
Tanami Gold NL.

Denis Waddell
Executive Chairman

[rochdale] 06/8/2007 16:43

interesting - lets hope they keep buying

[shoggoth] 06/8/2007 16:36

There were two sells of 100k and 150k. At the end of the day, the 2.5m buyer took these as well - the trade was modified to a 2.75m buy.

[greenpastures] 06/8/2007 15:38

Yes, volume has increased a lot since I last looked this morning. Maybe something is afoot.

[rochdale] 06/8/2007 15:30

yes someone is accummulating - good news - 6p please for mine

[hosede] 06/8/2007 14:02

three large buys at 4 and 4.25 total 5.5 million shares - looks like somebody loves us!

[rochdale] 06/8/2007 13:18

need the circular tidying up things from the recent announcement

[shoggoth] 06/8/2007 13:10

Bid 4.0625 for 100k, offer 4.12p for 25k, those were my two buys.

[suahb] 06/8/2007 13:09

with so many false starts with LTR you just do not know when to offload in case it ticks back down. big trades here, so i will hold. Offloaded 100K at 3.75 a couple of weeks back but i think might go higher this time.

[thecynical1] 06/8/2007 12:53

someone out there knows something we do not !!!!! two very large T trades .... wonder when we will see the RNS telling us that one of the large holders has increased their holding? or am I just being optimistic ? ; )

[thecynical1] 06/8/2007 12:48

afternoon all....haven`t posted on here for a while.....still holding a relatively healthy quantity of these...

rochdale...why get out now when the fun is potentially about to start ? : )

[rochdale] 06/8/2007 11:50

agreed - if it goes much higher I might be tempted to unload a few myself

[greenpastures] 06/8/2007 11:39

With only 45,000 shares traded it looks more like the sellers are done than a big buyer in the wings. We will find out in due course.