Tianshan Goldfields Share Discussion Threads

[mr.oz] 29/1/2008 23:19

MinSec recommends merger with CopperCo

Resource investment house Mineral Securities Ltd (MinSec) has given the thumbs up to a merger proposal with copper producer CopperCo Ltd, to create an diversified base and precious metals company with a market value of $530 million.

A name for the new entity will be decided upon later this year but is currently going under the banner of `New CopperCo'.

MinSec's independent directors, including well-known mining figure Robert Champion de Crespigny, have recommended that shareholders accept the offer.

The enlarged company will bring together CopperCo's main assets, namely the Lady Annie copper mine and Lady Loretta lead-zinc project in Queensland, and emerging platinum producer Platmin Ltd, which is 16.4 per cent owned by MinSec.

It will also take in Tianshan Goldfields, which has a gold project in China and is 19.9 per cent owned by MinSec, and Sappes Gold, which is wholly owned by MinSec.

CopperCo will offer MinSec shareholders 2.2 CopperCo shares for each MinSec share held - valuing the stock at $1.43 and the target at $149.35.

CopperCo will also issue about 361 million shares to MinSec shareholders and option holders, giving MinSec an equity value of about $242 million and an enterprise value of $268 million.

MinSec's 19.8 per cent stake in CopperCo will be disposed of within 12 months of completion of the merger by either seeking New CopperCo shareholder approval to cancel or buy back those shares or disposing of the shares through a rights issue or placement.

Following the merger, CopperCo shareholders will own about 54 per cent of New CopperCo, and MinSec shareholders and optionholders will own about 46 per cent of New CopperCo.

Among other conditions, the offer stipulates an 80 per cent minimum acceptance threshold.

CopperCo managing director Brian Rear said the desire to diversify beyond copper was the main reason behind the merge.

"I'm a believer in the virtues of diversity," Mr Rear said during a teleconference.

"We've attached an importance to platinum.

"Platinum has very strong fundamentals for the next decade.

"Industry is not delivering to demand for platinum around the world."

He said the platinum price was generally trending upwards, driven by increasing demand for light diesel engines, which require platinum in catalytic converters.

The new entity will focus 52 per cent of its efforts on copper, 30 per cent on platinum, and 18 per cent on gold and other base metals.

Mr Rear noted the price cycles of these metals tends to move in opposite directions to each other, underpinning the advantage of being diversified.

He said the merged company would have a greater equity market presence.

Also, merging offered better use of human resources.

"(MinSec managing director) Keith Liddell and I had worked together for a long time and have similar beliefs on how to drive a company's worth, so ... its better us to work together than in small companies in isolation," Mr Rear said.

He said the offer document would be dispatched to MinSec shareholders by mid-March followed by a meeting of CopperCo shareholders later that month.

The earliest date the offer can become wholly unconditional is mid to late April, he added.

At the 1615 AEDT close MinSec was steady at $1.40, while CopperCo's shares were down two cents to 63 cents.

[pillion] 27/1/2008 21:17

LOL !!

The Golden Eagle Nugget was sold then melted down

Larcombe bought a pub near Kalgoorlie called it the Golden Eagle

Can't find much about it on Google

[mr.oz] 27/1/2008 21:04

I knew an elderly couple doing just that ; died of food poisoning I heard...

[pillion] 27/1/2008 20:55

Mr O

At Widgie we were prospecting for nickel, however .................
close by was a prospector and his wife working a shallow mineshaft for gold

She would wind him down the shaft by hand, bit like a water well

They lived in an old shack, been digging there for years, in fact they still drove an old Ford model A, this came shortly after the Model T Ford

I'm telling you this because they too came from Yorkshire

Must have been in their 60s then

I remember we used to sneak them some good food from our camp, rump steak and the like

Don't know what happened to them after I left

[mr.oz] 27/1/2008 20:42

Hi Pillion .... nope , in N.Yorks , but travel a lot , so currently in Chicago. Hence some posts are weird times, or not at all.....
V.Interesting picture indeed

[pillion] 27/1/2008 16:49

Mr O
I watch 'cos of MXX 19.3% interest

Are you in Oz ?


btw, I took this piccy at Widgiemooltha, WA, more than 30 years ago

A nice lump of gold

[mr.oz] 23/1/2008 01:26

lets see if it brings it back too .... bouncin 14% at the mo...a buy opp tomorrow in uk early doors for anyone watchin this

[mr.oz] 22/1/2008 10:51

Bloody hell ... AU:TGF led this one down ; see scrolling chart to compare
Will have to look under the mattress , amongst the bed bugs, for top-up monies

[mr.oz] 16/1/2008 21:11

Gold Price still looking hot for the foreseeable ... We'll be a Producer at the best time



Goldman lifts gold price forecasts

NEW YORK (Thomson Financial) - Goldman Sachs raised Wednesday its gold price forecasts to reflect expectations of a U.S. recession in 2008, which should lead to a lower U.S. dollar.

Analyst Oscar Cabrera raised his 2008 average gold price forecast to $910 an ounce from $800, his 2009 estimate to $870 an ounce from $852 and his 2010 projection to $940 an ounce from $907.

Cabrera expects investment demand, emerging market central bank purchases and declining mine supply to continue to support gold prices.

Goldman sees the dollar falling vs. the euro to $1.5 in the next six months, vs. the previous exchange rate forecast of $1.35, as the firm's economists now expect a contraction in gross domestic product during the second and third quarters.

February gold futures fell $18.80 to $883.80 an ounce, pulling back from an all-time high of $916.10 an ounce reached in intraday trading on Tuesday. The euro was last trading at $1.4650 vs. the greenback, down from about $1.48 in late New York trading on Tuesday.

[mr.oz] 09/1/2008 18:49

escondido ...good timing I think
It is only the market sentiment that is playing with this one. I think you recognised that with the timing of your purchase. Buy on the Dips.

[mr.oz] 09/1/2008 13:33

Going great guns in AUS

3rd Jan - 15% drop
then..

4th Jan + 2.6%
7th Jan + 10.3%
8th Jan + 4.6%

and last night ... + 15.5%

[escondido] 04/1/2008 21:37

think the drop recently has been down to offloading by short-termers (mid 2009 earliest for mining to start)and the question over funding. This is the biggest concern especially with the amount of dilution in the last 6 months or so. Hope they don't go that route. Would rather they enter j/v or even better get bought out by a bigger co looking to increase their resource/reserves. Think the latter is unlikely until they get the necessary mining permits/licenses and ongoing feasibility study out the way. Still looks very cheap at the mo - somebody tell the russians...

all imo etc

[mr.oz] 04/1/2008 20:43

Haven't had much time lately to really check things out ... but yes the drops recently, led by AU listing, is a buying/topping up opportunity
However, have Macq actually increased, or just consolidated their interests?
I'll look into it later.
Good Luck

[escondido] 04/1/2008 20:06

took a small stake in these recently after monitoring for some time.
Looking at the recent increase in Macquarie holding plus the additional FRM and today's announcement of WFM 20mil i wonder where they're picking up the stock from?

The price now is looking very tempting for a further top up. The rsi looks well oversold.

esc

[mr.oz] 21/12/2007 17:10

In for the long haul , happy indeed
New Website coming boys .. looking good as still under construction
Will be why we lost some pics above ; will sort out in due course

[skyfoot12] 21/12/2007 12:14

just give it a week or so, now the issue of equity is out of the way,

[mr.oz] 19/12/2007 13:26

Tianshan Goldfields says Gold Mountain drilling confirm, extend mineralisation
AFX

LONDON - Tianshan Goldfields Ltd said drilling at the Jinxi, Yelmand-Balake deposits, has intersected extensions to mineralisation in the south-east, while drilling at the Mayituobi deposit confirmed mineralisation in the north east.

Drilling at both the sites is part of Tianshan's Gold Mountain project, northwestern China, the company said.

A total of 54 drill holes have been completed in 2007 at the Jinxi deposit, while 18 drill holes have been completed at the Mayituobi deposit.

[mr.oz] 19/12/2007 03:05

Small-cap miners look to consolidate

Created: 18 December 2007 Written by: Alastair Ford
There are two key themes in small-cap mining at the moment. One is that fund managers are gradually becoming less enthusiastic about parting with their millions, and the other, a more long-running theme, is consolidation. The connection between the two, however, is growing more marked

Fund managers are becoming increasingly frustrated with holding illiquid shares. This is partly because many are sitting on large paper gains, but know that if they attempt to off-load at the quoted market price, the price itself will drop. And it gets worse. In meeting redemptions, fund managers find it easier to sell the more liquid companies in their portfolios, and these tend to be the better-quality companies. This has meant that over time there has been much furring of the arteries, as decent companies get bought and sold, but the ones that underperform, and trade infrequently, remain on fund managers' books. The Alternative Investment Market (Aim) has never been known for liquidity, but there's still a limit to how much illiquidity a fund manager can stomach.

Many companies get round this by dual listing, either on the Canadian or on the Australian markets, and there ought to be more dual listings in 2008. But more marked, perhaps, will be a relative decline in new issues on the mining side on the Aim market. The recent listing of Central Rand Gold was quite well supported, but although the company wouldn't have looked out of place on Aim, it went straight onto the main board.

Meanwhile consolidation, a theme we highlighted last year, has been very much in evidence in 2007, and ought to continue to be so in 2008. Part of that will be driven by success, but there will be an increasing number of Aim companies who struggle to get re-financed, and who will be pushed into deals. Under those circumstances some of the more canny players in the sector may be able to pick up some bargains.

[mr.oz] 19/12/2007 03:02

Well ... more good news , and it keeps a comin....

We have not put a foot wrong

[mr.oz] 13/12/2007 18:00

better volume lately in OZ , and the only blue on my monitor today.

[mr.oz] 12/12/2007 13:43

I make this a new holder (significant holder !)

Tianshan Goldfields Ltd
12 December 2007

TIANSHAN GOLDFIELDS LIMITED

('TIANSHAN' or the 'COMPANY')

Notification of Significant Shareholder

The Company confirms that it has received notice as follows:

Genesis Asset Managers LLP now hold 13,935,491 ordinary shares in the share
capital of the Company (representing 6.48% of the Company's current issued share
capital).

[mr.oz] 11/12/2007 04:46

mmmmmmmm... currently up 10% in Oz.

[mr.oz] 05/12/2007 12:54

Tianshan Goldfields Ltd
05 December 2007


For immediate release

TIANSHAN GOLDFIELDS LIMITED

('Tianshan or the 'Company')


Tianshan confirms that on 4 December 2007 the directors of the Company approved
an allotment of shares following the exercise of warrants over ordinary shares
of no par value in the share capital of the Company (the 'Warrants') as set out
below:

ANZ Nominees Limited 1,000,000 $0.34
1,000,000 A$340,000

Application will be made for the ordinary shares created pursuant to the
exercise of the Warrants (the 'New Ordinary Shares') to be admitted to AIM and
dealings in the New Ordinary Shares is expected to commence on 11 December 2007.



The total number of issued ordinary shares in the Company, including the New
Ordinary Shares, is now 216,192,597 ordinary shares.