Canisp Share Discussion Threads

[keya5000] 04/8/2010 19:45

It would seem now the full details of the AD are being digested, I think most read the first three paragraphs and thought oh f@@k we have been robbed.

For those in the know (Wendy) how long would the JORC take to complete?

[redimp98] 04/8/2010 19:21

Read between the lines boys and girls. There is a substantial amount of gold-antimony and silver lying less than 200 metres below the surface. All that is needed now is for the Co. to look at the geologist's report and cut diamond drill holes through to the intersects. Then onto Stage 2. I'd speculate the value of this Co. by the end of stage 2 as between an mcap of £200m and £1bn. The Canisp key unlocks an abs fortune for Mr Eyi.

[redimp98] 04/8/2010 19:14

Wordsearch time. Look for the word "bonanza" in the 100+ pages of the report.

[elena saratov] 04/8/2010 19:00

Hooster,

May I enquire as to your positioning of the decimal point?

You state that Canisp/Tristar may relist at 0.001p

Did you mean 0.010p?

As I understand it the placing will be at 0.005p.

One good point about this placing for the new investors is that the shares are 0.005p shares so future placings should not be below this 0.005p value.

I am hoping that Brian Spratley knows where the magic lamp is located in the cave so we can all become rich beyond our wildest dreams!

[welshgoat2] 04/8/2010 18:34

hoot, gld someone else have done their maths before deramping this aquasition, rememer $9k ia avge and has been sold to $18k in past.world compsumption is 2.2m and less than 200k produced 08 and 09, 2+2=5 there in my book, it a vital resourse to the ecomony, my money is on prices going up, as you said if we can produce 10k@£2k profit=£10m pe10=£100m mkt cap, many other minerals there we all know there is gold there but how much and what grade, cobalt and dimonds should be intresting, there is a reason why current owners wanted to list,gl

[ditb13] 04/8/2010 18:20

Very true Keya

I can understand everyones fustrations at the amount of dilution as am I!! but at the end of the day I am sure there is a very good reason for it!! as nothing is free in this world!!! We have waited long enough so I am going to be in this untill the full picture is clear!!

G.L.A

Regards

[keya5000] 04/8/2010 18:13

If we all top up and the subscribers cant sell there may not be much of a 'sell off', most I would expect after holding for six months will either bottom draw them or add to average down if the chance is there.

I said all yesterday that this deal was not what it first may seem and I am sure we will get our return.

Reading the AD it looks like Brian Spratley is the driving force behind this and the fact he's done the prospecting and he's confident to get involved at the top is a good sign.

It also look's like the Turk's have been very shrewd if it was worthless I am sure they would have given it away for £300K but they are keeping 75% for a very good reason and the fact MH and crew could not wrestle them down further also shows what we may be dealing with here.

[ditb13] 04/8/2010 18:06

Thanks Hoot as always very informative! I for one will also be topping up on open!

Regards

[hootster] 04/8/2010 17:55

Let's say things I don't think are as bad as they look on face value and all will become clearer I am sure for those that hang in.
I think the MM's and a few will be given the nod of the true Potential here so if there is a chance to get in at 0.0010 on open I will be Topping up ;-)
As always DYOR etc...
REGARDS THE HOOT....

[fightback999] 04/8/2010 17:52

Thanks Hoot.
So the Gold will be a bonus ;-)

[hootster] 04/8/2010 17:42

The large number of shares issued to get the deal done was unexpected and the price to get it away but I think you have to dig a little deeper to see what the true potential of this asset is and if you look harder enough it is in the Admission document. Those close to the action have got in on the cheap but those prepared to hang in there I think will be rewarded.


It is recommended that the Goynuk Mine area and the surrounding concessions be explored and evaluated in more detail for their potential of hosting economic concentrations of epithermal antimony-gold mineralization.

The conceptual objective of the Goynuk exploration program should be the ultimate discovery of one to three million tonnes of open pittable mineralization grading in excess of 2 per cent. antimony in one or more deposits on the property. It is expected that this objective can be verified via a two stage exploration program. The first stage will work out the geological and geochemical framework of the deposit, including a few diamond drill holes to help define the shape and depth potential of the Goynuk mineral system.

The latter will also test for higher gold concentrations at deeper levels, as predicted by modern epithermal theory. If the first exploration stage verifies the geological concept of a near surface body of mineralization, a much more comprehensive and broader follow-up program would be justified. The stage one exploration program is expected to cost about US$700,000 and will entail surface mapping and trenching, geochemical surveys, rotary air blast drilling, and preliminary diamond drilling.

Worth noting that an open pit producing Antinomy works on 80% margin so therefore each tonne of Antimony mined will give Tristar a profit of $7,200 based on today's market price of $9,000 per tonne

So let's look at the figures it is suggested that there is between 1mln – 3mln tonnes of Antimony and a very conservative 2% purity is being used, the higher the purity and in some cases can be between 10%-15% will give a much larger asset.

1mln Tonnes x 2% will yield 20,000 tonnes of Antimony and based on current mkt rate of $9,000 per tonne gives a producing asset of $144mln(£91mln) based on 80% margin

Now things really start looking interesting when you take 3mln tonnes this takes you up to a producing asset of some $432mln (£273mln)what does this equate to in share price well with 4bln shares which will be in issue and on the above figures will give 6.8p

Now what if the purity raises to say 4% then your 3mln tonnes will produce 120,000 tonnes of Antimony and a producing asset just over $864(£546mln) and a share price of 13.65p

As stated Tri-Star will need US$700,000 to start the exploration program and this will need another placing but I am certain will not be down at the 0.0005 and more than likely be between 0.0010 – 0.0020

Once this asset and the value of what is in the ground is proven you can be rest assured the share price will be heading in a rapidly northerly direction.
I certainly will be looking to add on open and let the true picture unfold.

As always DYOR etc.
REGARDS THE HOOT....

[jimmyjagger] 04/8/2010 17:34

I was under the impression they had a flea-bitten old exploration license thats been lying around since 2005 and needed to prove up a resource figure before applying for the mining license. I'm happy to be corrected

[fightback999] 04/8/2010 17:29

Now you know why nearly a million pounds have been made available to Tristar.
Comments from Hoot Redimp and Share Cruise on this please.

[fightback999] 04/8/2010 17:24

No wonder Brian Sprately is now on the board.
Have you seen this from the AD:

Please treat these samples with caution and my comments as I have not thoroughly analyzed the

results and until I get comments from a couple of colleagues I may still get some assumptions wrong,

but, there is significant gold and silver at Goynuk, but alas platinum is less likely.

Sample

Number Au Au Pt Pd Ag Al As Au Sb

ppm ppm ppm ppm ppm % ppm ppm ppm

1 >10.0 >100 0.63 >10000 19.1 886

2 0.164 1.08 0.61 4820 10000

4 0.043 0.25 0.06 550

[fightback999] 04/8/2010 16:27

For anyone who hasn't seen the AD

Proposed Directors
On Completion, it is intended that Adrian Collins, Jos Trusted and Jonathan Quirk will be appointed
to the Board as Non Executive Directors, Mehmet Vehbi Eyi (the founder of Tri-Star) will be
appointed to the Board as an Executive Director and Brian Spratley will be appointed to the Board
as an Executive Director and Chief Executive.

Adrian Collins, proposed Non Executive Chairman, aged 56, was previously a director of Strand
Hanson Limited (previously Strand Partners Limited), a leading London-based corporate finance
advisory firm and has worked in the fund management sector for over 30 years, a large part of
15
which was spent at Gartmore Investment Management, where latterly he was a Managing Director.
Adrian was one of the founders of Trustnet.com, a leading provider of Fund performance
information on the Internet. He is currently on the board of a number of public and private
companies in the United Kingdom and overseas. He is chairman of Lion Trust AssetManagement plc
as well as a non-executive director of Hiscox Investment Management Limited and City Natural
Resources High Yield Trust plc.

Jos Trusted, proposed Non Executive Director, aged 39, has spent 15 years in investment banking.
Jos began his career as a solicitor with K&L Gates, before moving to the investment banking team
at Dresdner Kleinwort Benson. Jos spent the majority of his career at UBS, where he was a director,
before moving to Kaupthing Bank in 2006 to assist in the establishment of the UK equities division.
Jos has advised a number of FTSE clients including Next, Kingfisher, Carnival and Centrica, but has
latterly spent more time focusing on smaller businesses, including a number of mining companies
including Marcona Mining, Peru. Jos is currently working in investment management.

Jonathan Quirk, proposed Non-Executive Finance Director, aged 58, is a Chartered Accountant. He
has worked in the financial services sector since 1974 for, among others, Morgan Grenfell and
Deutsche Bank in their capital markets divisions. Since 1997 he has been a founding director of
Cairnsea Investments Ltd, an FSA regulated investment manager specialising in quoted and
unquoted smaller companies particularly in the financial services sector.

Mehmet Vehbi Eyi, proposed Executive Director, aged 68, graduated from the Academy of
Commerce and Science in Ankara, Turkey. He moved to the UK in 1968 and started his career working
for a metal trading company where he specialised in minor metals. Mr Eyi worked for an associate
member of the LME. In 1993, he established Vemetalco Limited to conduct proprietary trading in
minor and speciality metals, specialising in antimony and its co-products. In 2006 Vemetalco Limited
was dissolved after trading assets had been distributed to Mr Eyi as its proprietor. Mr Eyi continued
as an active investor and trader in metals and, in 2008, he established a controlling interest in Tri-
Star.

Brian Spratley, proposed Executive Director and Chief Executive, aged 60 is a mining engineer with
over 38 years experience in the mining industry and is currently (and until the end of August 2010)
the Chief Operating Officer of PT Artha NusantaraMining in Indonesia. He has held various positions
within international mining groups, including Lundin Group (1995-2003), Crew Gold Corporation
(2003-2008) and Grängesberg Iron Ore plc (2008). He has worked in many commodities globally,
primarily in a project development role, from exploration and studies through to engineering,
construction and operations. His background in the corporate development of junior and mid-tier
mining companies is a natural fit for the Company.

[wattzy] 04/8/2010 16:24

When does this relist.

Cheers

[elena saratov] 04/8/2010 16:22

The shares are placed at 0.005p. 200 to the penny. I bought 128510 shares for £500 including charges.

The placees get 10 million shares for £500.

Some dilution involved.

If they get a 80 bagger shareholders break even.

Three Star Import and Export Antimony Mining Industry and Trade Inc?

Why not 5 or 3,100,000 star?

The Directors of this company have not looked after shareholders investments.

The relisting price is likely to be 0.01p

I must say no one expected this scenario.

Apologies for my earlier post when I alluded that my shares might be worth £9.99p I think £6.99 would be nearer.

[welshgoat2] 04/8/2010 16:20

has any of the derampers here gone yhru the new directors??? intresting very intresting

[keya5000] 04/8/2010 16:16

jimmyjagger - 4 Aug'10 - 16:02 - 2633 of 2634


There is no mine just a patch of rocky land. No mining license just a 2005 exploration license covering 25 hectares, which is pretty small

---------------------------

Jimmy do you think the majority here have not read the AD????

There is a mining licence to 2015 to mine Antimony and exploration licences for most other base metals.

Please state facts if you are going to post.

[jimmyjagger] 04/8/2010 16:02

There is no mine just a patch of rocky land. No mining license just a 2005 exploration license covering 25 hectares, which is pretty small

[soulseeker] 04/8/2010 15:59

We're suspended so your shares are worth squat and you've waited months for a 'result' so why not just sit on them and wait,you cant lose if they are already worth squat....

[welshgoat2] 04/8/2010 15:47

zaitoon, dont try and explain m8, they just wont get it?? tried and failed to explain that we have bought a mine for £11m through shares, the value of the mine might be worth £0 or might be worh £100m, we shall soon find out, but with the owners taking the company to the market and holding 75% it looking good imo.