|Titanium Resources Group
||COM SHS NPV
||EPS - Basic
||Market Cap (m)
Real-Time news about Titanium Res (London Stock Exchange): 0 recent articles
|pre: bid rising....another rns which was a bullish update pre-xmas yet to feed into the share price imo....note rutile prices incresaing:-))))
RNS Number : 4885Y
Titanium Resources Group Ltd
23 December 2010
Titanium Resources Group Limited
Trading Update and Board Change
23 December 2010: The Board of Titanium Resources Group ("TRG") today issues a pre-close trading update for the year ending 31 December 2010.
Full year rutile production for 2010 is expected to be approximately 68 000 tonnes, which is in line with the updated targets announced in August 2010.
Rutile prices have increased sharply during 2010 with recently concluded contract prices for approximately 22,000 tonnes of 2011 production being at between 19% and 25% above 2010 average contracted prices. TRG remains contracted to deliver in 2011 approximately 34,000 tonnes of production against 2010 agreed delivery contracts.
TRG remains engaged in positive discussions with the Government of Sierra Leone to complete a definitive agreement regarding the loan to Sierra Rutile Limited. The Company will make further announcements when appropriate.
The Strategic Review Committee has completed its first stage of the strategic review, announced at the interim results. TRG's Board has reviewed the Committee's recommendations and has approved a comprehensive set of system and process improvements. The management team are now developing a plan for implementation.
The Board of the Company also announces today that Mr. Wayne Malouf will become Non Executive Chairman of the Company with effect from 31 December 2010 (previously Mr. Malouf was Executive Chairman). All other Board responsibilities remain unchanged.
For further information:
Titanium Resources Limited
Wayne Malouf, Executive Chairman|
|maty: can someone tell me what is happening here, the share price is dead and falling and yet it looks like a great business?|
|daddy2010: D2 DREDGER INSURANCE DETAILS?
Does anyone have any further details on the outstanding insurance claims from the capsize of the D2 dredger in 2008?
I am aware that the collapse and loss of the D2 dredger is estimated to have cost TXR $35m and that TXR has already recouped around $3.5m was recovered from Zurich Insurers (their second largest insurers) in April 2009.
I am also aware that the pre-trial timetable of the Court directed mediation between the TXR and its other insurers (to recover the outstanding insurance) has been delayed by approximately four weeks and is now expected to take place by the end of February 2010.
Hopefully some sort of settlement will be agreed out of court otherwise a the 4 week court case will rumble into view and this is expected to commence on 28 June 2010. Therefore a judgement will take us up until the end of July.
- Who are the insurers TXR is pursuing?
- For how much (is it $35m less the $3.5m recovered already, i.e $31.5m?)
The management feel they have a very good case if you read their statements in the interim and final reports.
Assuming they win, have no court costs to pay and recover a tidy sum, this could have a transformational impact on the share price.|
|markth125: Upon the placing being made, won't the share price crash with there being loads more shares in issue. Why will the company be valued at £40m (385million shares at 11.5p) rather than £25m today. Or is it as simple as the additional monies going in will flow straight in to the valuation of the business. I some what would doubt that! Also, does this indicate that the insurance monies perhaps wont be coming as surely if they were going to be getting a sizeable chunk then why would they want the placing monies. All a bit strange. Still holding, wouldn't want to miss a rise. If I sell you can guarantee a rocket type recovery.
|billbyrne: The listing on aim is something that they are happy with (see below) so why
would Boulle want to take it private again. Perhaps he just sees good value
in the share price at the moment.
Under the Company's Articles of Association, Mr Boulle, as a shareholder who
owned in excess of 30% of TRG's issued share capital prior to the Admission, is
not required to extend a corresponding offer to all of the Company's
The Board of TRG welcomes the increased participation of Mr Boulle given his
deep knowledge and understanding of the Company, its assets and Sierra Leone.
The Company currently intends to maintain its listing on AIM and to continue
with the strategy as described in the trading update published on 19 January
|laserdisc: tdw will be a member with plus traded so it can get their live prices etc
its the mm that decides where to place the deal either on plus or direct to lse, as from from sept mm's have been getting a better incentive on deals with plus they will get better commision rates than lse as i see it.
plus markets have been taking volumes of business of late their mkt share increased volumes saying that their share price( pmk )still not re acted to the increase|
|billbyrne: Boulle is in the best place to know if the current share price
is good value or not. The way he is accumulating stock I would
say he thinks the current share price is more than good value,
its a bargain. As you say pre interesting times ahead.|
|numbercruncher2: We should see an RNS later noting the movement in share price, wonder if they will give anything away or issue the usual "The directors know of no reasons for the increase in share price"
Will wait and see.........|
|simon_64: Morning All
I have e-mailed the company this morning.
I am a longterm private investor in the company and have invested a considerable sum in our companies shares and do believe in the longterm future of the company, but at the same time i am rather concerned about the lack of clarity and information being provided to private investors and indeed at the lack of directors purchases whilst the share price is languishing at all time lows.
Could you release some news to how the talks with the insurers are progressing. Has the recent settlement enabled Dredge 2 to be repaired.
When will the directors be puchasing shares as a show of confidence ?
Once settlement was received from the insurer why was an announcement not released as it was certainly newsworthy.
If anyone can think of any other relevant questions please add.
|andrbea: To me it's a proven production and corresponding share price story
and they have government backing
so why can't they get back to where they were 2 years ago? Share price in Jan 08 stood at 80p, based on good production the year before
In april 2007
txr even has thoughts of becoming the world's biggest rutile producer...
"The company shipped 73,000 tonnes in 2006, and expects to hit 100,000 tonnes in 2007
All they need is a big stakebuilder and 2 or 3 producing dredges (maybe he'll fund the cost thereof)
Titanium Resources share price data is direct from the London Stock Exchange