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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tianshan Gold. | TGF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 10.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.25 | 10.25 |
| Top Posts |
|---|
Posted at 20/8/2009 10:36 by clearsoup Frantic financiers at it again:This has the 'strategic' fingerprints of Cape Lambert all over it. I have to say the reason I liked TGF was because it was operationally transparent: focussed on developing promising low-tech chinese gold assets, so an investor knew where he was. Now I have the opportunity to back that same management's ability to find even more attractive uses for my money. How can I refuse? |
Posted at 06/7/2009 10:00 by mr.oz Cape Lambert Iron Ore aims for double takeoverFont Size: Decrease Increase Print Page: Print Sarah-Jane Tasker | July 06, 2009 Article from: The Australian CAPE Lambert Iron Ore is expected to launch a takeover bid this week for one or two companies that it acquired stakes in through its recent purchase of CopperCo's assets. Cape Lambert's board will meet today to review its options, and it could make a play for Chinese-focused Tianshan Goldfields, Corvette Resources, or both. The Perth-based miner finalised its $106 million transaction for failed CopperCo last week, which involved Cape Lambert buying the defunct miner's debt and all its assets. The deal included assets acquired by CopperCo through its acquisition of the Mineral Securities group of companies, which had investments in Tianshan and Corvette. Cape Lambert's sale agreement for CopperCo needed to be structured to meet a recent ruling of the Takeovers Panel, which said Cape Lambert would have to launch takeover bids for each of the listed companies it acquired stakes in or sell down the shares when the purchase was complete. Cape Lambert has a 19.99 per cent interest in Tianshan and Corvette. Cape Lambert executive chairman, Tony Sage, said the company's board would meet today to make a decision on Tianshan and Corvette. "We will make a decision on Monday, as we have been given all the advice now from our legal teams," Mr Sage said. "We can either creep, sell the stakes or make a takeover bid." Mr Sage also flagged last week that he had already received three offers for the Lady Annie copper mine near Mt Isa in Queensland -- another of the assets he acquired in the CopperCo transaction. With a background as a fund manager, Mr Sage's strategy is to extract value from companies and then onsell them. He is slowly increasing the range of explorers and miners under his Cape Lambert banner and has already based six of his subsidiaries at his Perth head office. He is on five of the boards of the companies he has an interest in, and does not plan to be a silent investor. "When we fund them, we don't just get the interest and not take an interest," Mr Sage said. "We want board seats, we want to be active. "We make it clear that we are going to want to run the technical side of it. "We aren't really a miner. I'm not going to mine anything. What I like to do is take a bit of virgin ground that we like and develop it to a stage where someone can come along and mine it." DMC Mining is the latest company to join his team. He took a 37 per cent stake in the iron ore explorer on Friday. |
Posted at 18/6/2009 08:09 by mr.oz Sage shrugs at Takeovers Panel ruling on CopperCo18th June 2009, 7:00 WST Cape Lambert Iron Ore boss Tony Sage has shrugged off a Takeovers Panel ruling that will force him to launch takeover bids for four junior mining companies or drastically reduce $21 million worth of shareholdings. The panel said yesterday it had upheld a ruling by the Australian Securities & Investments Commission not to grant Cape Lambert relief with regards to shareholdings in Tianshan Goldfields (25.5 per cent), Corvette Resources (35 per cent), Niplats Australia (40.1 per cent) and Buka Gold (47.3 per cent). Cape Lambert is poised to acquire the shareholdings, worth $21 million, as part of its buyout of the collapsed CopperCo. The deal is expected to settle by the end of this month. But under Australia's Corporations Law, investors with a more than 20 per cent stake in a publicly listed company have to launch a takeover bid, barring a few exceptions. Without ASIC relief, Cape Lambert may have to cut its shareholdings below 20 per cent, or launch takeover bids. Cape Lambert had appealed against the ASIC decision not to grant relief. Mr Sage said yesterday he was not concerned at the panel's ruling. Cape Lambert shares eased 0.5¢ to 32.5¢. |
Posted at 08/1/2009 05:45 by mr.oz UP 14%Thursday, January 08, 2009 Tianshan Goldfields has significant gold hits at Gold Mountain by Proactive Investors company news image Tianshan Goldfields (ASX:TGF) has announced final results from the program of near-resource drilling undertaken during 2008 at the Company's 90%-owned 2.6moz Gold Mountain Project in northwest China. The program returned "encouraging drill intercepts at depth on the southern margins of the Yelmand and Balake deposits." The results included significant broad intercepts of gold mineralisation including 72 metres at 1.75g/t gold (including 58 metres at 2.08g/t gold) at Yelmand and 48 metres at 2.08g/t gold at Balake. The results have reinforced the potential for extensions to the existing resource base at Gold Mountain. The Gold Mountain Project currently comprises Measured, Indicated and Inferred Resources totalling 94.8 million tonnes at 0.9g/t gold for 2.64 million ounces. In November 2008, Anglo Pacific Group (ASX:AGP; LSE:APF) increased its shareholding in Tianshan Goldfields (ASX:TGF) from 7.9% to 10.1%. Tianshan Goldfields had a healthy cash balance of $A17.3m as at 30 September 2008. |
Posted at 25/11/2008 16:26 by clearsoup duhh... Found it. My previous search got directed to the CUO thread. But HotCop isn't great. Have been buying and now have 200K. Recommend Chris Wood gold bull article He is tuned in to China, India and the Middle East, which is where I see new leadership in POG coming from. I think the 'permission' given to PRC investors to buy gold may reflect some kind of deal, for PRC to support orderly adjustment of USD exchange rate, in exchange for US ceasing to intervene in futures to keep gold down. Also it looks as if the Iranians see buying Gold as a way to score off the US. Russia could also be tempted. So IF the fundamentals remain tight, we may see some POG strength. |
Posted at 17/7/2008 10:29 by mr.oz clearsoup , anyone .... any thoughts on this news aboveI can't make my mind up what to think. EPS dilution, against working capital and enlarged investor involvement Seems early to talk about taking debt too. But this is all evidence of a growning entity full transcript: Tianshan Goldfields mulls HK share sale Bloomberg in Perth Jul 16, 2008 Tianshan Goldfields, an Australian company seeking to mine bullion on the mainland, is considering a Hong Kong share sale to raise funds for the project. The company expects to spend as much as A$70 million (HK$529.54 million) on the project in Xinjiang province before mining starts in the first quarter of 2010, chief financial officer Jason Bontempo said. China's consumption of gold jumped 23 per cent last year, making it the world's second-largest consumer. Gold climbed to a record in March, prompting mining companies to seek deposits. "Raising money through Hong Kong for a mainland project could make a lot of sense," Mr Bontempo said. Tianshan might also sell debt, he said, without giving details. Macquarie Group on July 3 raised its stake in Tianshan Goldfields to 11 per cent, trailing Mineral Securities' 25 per cent holding. Mining companies are asking Hong Kong's stock regulator to relax listing rules so that explorers without proven production prospects could sell shares. Spot gold hit US$987.75 an ounce yesterday, the highest since March 19, before easing to US$985.20 against US$971.20 late in New York on Monday. Falling mine production and the declining US dollar were the main spurs for gold buyers, said Citigroup Global Markets analyst John Hill. "One of the biggest attractions of China is the ability to be a low-cost producer," Mr Bontempo said. "If you are an Australian investor in gold, you are going to have to gravitate to companies with overseas projects. The Australian gold industry is suffering because it's failing to produce at reasonable costs." Tianshan Goldfields has 2.6 million ounces of resources at the Gold Mountain project in Xinjiang and may produce as much as 100,000 ounces annually in the first six years. |
Posted at 11/7/2008 16:59 by mr.oz July 10, 2008Tianshan Goldfields Gets Ready To Move On Its First Mine Up At Gold Mountain By Our Man in Oz The temperature is rising in Yining and the days are long - perfect conditions for crews drilling Tianshan Goldfields' Gold Mountain project in north-west China. ......... .......It is reasonable to assume that should the gold price hold, Tianshan will soon be awarded a similar A$78 per ounce value which, in theory, will lift the market value of the company to around A$200 million, or roughly double what it is today. That makes for an interesting, albeit totally theoretical estimation, which is worth a note in any investors black book, although London-based investors might want to think twice about that as the dual-listing is not long for this world. |
Posted at 25/4/2008 16:40 by mr.oz Interesting article , includes a section on Juniors:Most hard money investors would be well served to use these rules: Sell any stock that is issuing warrants with their next financing and tell your broker why and have him call the company as well. Never put more than 5% of your money in exploration stocks unless it is an advanced exploration play with plenty of prior drill success. Look for developmental companies that are within a year from bringing on new production. This is my favorite area for our Fund and one that you should pay attention to. Make sure that even with much lower metal prices (gold at $600) the company will still sell for less than 15 times after tax cash flow per share. Always look for companies with giant deposits that have economic grade. Even if the company is small, a big deposit gets attention. I hate to say good management because almost all companies can make it look like they have good management. But good people make things happen not rocks. In the coming years one of the best sectors for investors will be the mining industry for reasons you already know about. Progress in China and India, paper money, derivatives, insane governments, debt, etc. all point towards much higher metal prices for perhaps a decade. Don't shortchange yourself. Stay with the companies that have the real goods in the ground. |
Posted at 11/3/2008 20:13 by mr.oz PROACTIVE INVESTORS AGREE WITH ME....Tianshan Goldfields pleased with progress Tuesday, March 11, 2008, 12:31 PM Interim Results for Tianshan Goldfields ( AIM/ASX: TGF ) didn't throw up any surprises from a accounting point of view. The company does not generate any revenues yet, but is rapidly advancing its Gold Mountain Project in north-west China. Tianshan ended the period with A$17.5 million in cash, and said that its goals for 2008 were to complete a feasibility study underway on the potential for a open pit heap leach mining operation. Other plans for 2008 include following up new targets identified in 2007 and continuing infill drilling at Jinxi and possibly Yelmand where higher grade feeder zones have been confirmed |
Posted at 29/2/2008 19:25 by mr.oz Get Ready - Here Come the Gold Stocks!By David Galland Casey Research You'd have to be a monk living in isolated penury to miss the fact that gold is on a tear. Specifically, it has risen from $277.75 on January 4, 2002 to $950 last week, a gain of 242% in just over 6 years. Over the same period, the trembling S&P 500 is up an anemic 22%. In a gold bull market, an investor would expect the profits on gold stocks to be a multiple of those to be had from bullion. That leverage comes from simple arithmetic: once a gold producer covers its production costs, then each 1% rise in the price of gold can translate into a 5%, 10% or even richer improvement in the bottom line. For a company such as Barrick, with 125 million ounces in proven and probable reserves, even a $1 per ounce increase in the price of gold can mean big money. And so we see that between January 2002 and last week, the gold stocks were in fact up 612%. So far, so good. Yet, the gold stocks have stalled in recent months; between August 1, 2007 and February 21, 2008 gold bullion rose 42%, but gold stocks were up just 37%. What's going on? Is it that, in their concern over the broader equity markets, people have forgotten that gold stocks are associated with gold? Or is something else at work here? The answer is "something else." The Mothball Years While there are a number of plausible reasons for gold stocks lagging of late, we have come to the conclusion that the true explanation reaches much farther into the past. It's that the managements of the gold producers have only recently escaped the state of fear they operated under during gold's 20-year bear market. Consider: as recently as the year 2002, gold was still trading near $280. Against that number was a cash cost of around $250 per ounce for a typical company. That cost figure is about as low as the number could go, and it was the response of an industry beaten down and huddling in a trench. Caution lingers after the reason for it has gone. As gold began its upward move in 2002, it did so against the backdrop of an industry still in mothballs and still run by managers whose primary skills were cost cutting and frugality. This is important on a number of fronts. 1)Having been trained in the acid bath of razor-thin margins, management was intensely skeptical about gold's rally. They suspected it might be just another bear market trap, ready to punish unwary optimists who parted with cash to ramp up production. 2)In the hunkered-down years, miners focused on the higher-grade, easy-to-mine material that gave them the best shot at turning a profit, however small that might be. And being in survival mode, they were extremely cautious about buying new equipment or maintaining a large workforce. Employee rosters were reduced to the bare minimum. 3)Because staying in business was such an urgent goal, they were willing, even eager, to sell future production at a set price -- a perfectly rational strategy in a bear market, because it at least assured they would receive a price that covered the known costs. With all these factors taken together, it's easy to understand why the industry was slow to respond when gold started rising. In fact, it was only in February 2003, with gold trending over $350, that Barrick Gold Corp., the world's largest gold miner, began the expensive process of unwinding its hedges. And it wasn't until November of that year that the company announced it would stop forward selling altogether and would eliminate its entire hedge book. Once the turning point came - when management finally realized the bull market was for real -- the industry began to scramble to catch up. Which, in a choo-choo industry like mining, means hiring and training lots of people, buying or refurbishing the equipment needed to reestablish production on second-tier deposits, upgrading facilities, building expensive new mills, etc., etc. And, of course, dealing with the challenge and expense of unwinding hundreds of millions of dollars worth of forward hedge contracts. The rebuilding of the gold mining industry, in short, really only began in earnest over the past few years. The Ugly Duckling Years As would be expected, the costs associated with rebuilding the industry sent big hits to the bottom line, resulting in the kind of ugly financial metrics that repel institutional investors. The metrics were not at all helped by the shift away from high-grade ore, because the lower the grade, the more the material you have to dig, hoist, haul and process, meaning increased production costs. In addition, the industry rebuild occurred against a backdrop of generally rising inflation and a falling dollar, which helped push the cash cost of production up by more than double from the mothball years, keeping the miners unattractive as investments. By contrast, the base metals companies, which had hit bottom earlier, near the end of 1998, had already emerged from the mothball stage, thanks to increasing demand from China and elsewhere. They were, as a result, well on the road to recovery when the big price increases for base metals kicked off in 2004. So, while the gold miners have been widely shunned as ugly ducklings in recent times, the base metals sector has been enjoying salad days, reflected in multi-billion mergers and acquisitions and, of course, sharply higher share prices. The Golden Years Here at Casey Research, we are of the firm opinion that, now that the biggest costs related to restarting their industry are behind them, the big gold companies are poised to take off. The proof should come in rapidly improving margins which, lo and behold, we have begun to see in the quarterly reports now being released. Just last week, Goldcorp announced that fourth-quarter profit had nearly quadrupled over the same quarter the year before. And then Kinross announced that it, too, had posted a record quarter, with profits up almost three-fold over Q406. Meanwhile, Barrick reported that net profit for 2007 was 28% ahead of 2006. In addition, Barrick is feeling sufficiently flush (and optimistic) that it's buying out Rio Tinto's 40% interest in the Cortez Hills joint venture for $1.695 billion... cash. And the exception to this picture of profit eggs finally hatching is only superficially an exception. Newmont announced a loss of $1.8 billion in 2007. But most of it came from a one-time house cleaning -- $531 million to unwind 18.5 million ounces of forward gold sales and a $1.6 billion non-cash charge to terminate operations related to merchant banking. Look past those elements, which are an overdue recognition of money that went down the drain years ago, and you find that Newmont's mining business is actually in a healthy position. Looked at from another angle, Newmont took these charges now because they could afford to do so and because they felt that the damage to their share price would be softened by the strong performance of their current operations. Now that they've cleaned up the books, they too are dressed up to join the profit party. How to Profit It won't be long before others also note the pending improvements to the bottom lines of the big gold companies. The investment herd, we are convinced, is coming and, we expect, coming soon. How to profit? First and foremost, you want to be moving into the established producing companies post haste. The gangway on this ship is getting ready to be pulled up. Secondly, you should seriously consider moving some funds into the higher-quality junior exploration stocks. History has proven that, absent an exciting discovery story, the big gold stocks must get in gear before investor sentiment can reach the critical mass needed to ignite the juniors. History also shows that as profitable as the big gold companies are in a bull market, returns on the juniors can blow those away. Exponentially. This upside, of course, comes with a greater degree of risk. But paradoxically, this risk has been largely mitigated by the majors' slow take-off. That's because, anticipating that the gold stocks would follow the metal higher - and history shows no example of them not doing so - investors have already poured record amounts of money into exploration programs. As a result, we now know which companies have the goods -- significant discoveries that juniors have spent tens of millions to define and prove up with the clear intent of selling to the majors. The missing element, of course, has been that, until recently, the majors didn't have enough free cash to make those acquisitions. That is about to change. While you don't know me and so will have to take my word for it, I am not the type of person to fall in love with any investment. And any time I feel such an urge coming on, I check all my assumptions twice and then check them again. That said, I will also say that I have never been more bullish than I am now on the gold mining sector as a whole, with an added nod to the well-run exploration companies. -------------------- David Galland is the managing director of Casey Research, publishers of Doug Casey's monthly International Speculator advisory. For over 27 years Doug Casey and the Casey Research team have provided self-directed investors with unbiased research on investments with the potential to provide double- and triple-digit returns by tapping into evolving economic and investment trends ahead of the crowd. |
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