Investika Di Share Discussion Threads

[jtcod] 18/12/2007 10:21

You can't argue with 183p per share in the current market. Well done the management.

[dangersimpson2] 18/12/2007 10:05

16% premium to last night's price in oz

[stemis] 18/12/2007 09:36

INVESTIKA LTD
SHARE PLACEMENT
18 December 2007

The Company wishes to advise that it has agreed, subject to approval by
shareholders at a General Meeting to be held on 10 January 2008, to place with
institutional investors a total of 3,000,000 fully paid ordinary shares at a
price of AUD $4.30 per share.

The new shares will rank pari-passu with the existing issued fully paid ordinary
shares and funds derived from the placement will be utilised in carrying out the
bankable feasibility study on the Las Pascualas copper project in Chile.

The Placing Shares will not be offered generally to Shareholders, whether on a
pre-emptive basis or otherwise.

[nghomi] 27/11/2007 17:22

Tarquin Resources Change to Board
RNS Number:5705I
Tarquin Resources PLC
27 November 2007

TARQUIN RESOURCES PLC

("Tarquin" or "the Company")

CHANGES TO COMPOSITION OF BOARD OF DIRECTORS

London 27 November 2007. Tarquin (AIM : TQN) advises that following the Company
becoming a subsidiary of Investika Ltd, the Board of the Company has been
rationalised with Messrs Tomislav Bogdanic, Robert Cleary and Michael Smith
retiring as directors. The Board now comprises Chris Kyriakou (Chairman),
Charles de Chezelles (non-executive) and Roger Shakesby (non-executive).


Chris Kyriakou expressed his heartfelt thanks to Messrs Bogdanic, Cleary and
Smith for their contribution to the Company.

[nghomi] 24/11/2007 09:18

Based on yesterday's announcement, I am updating my estimate of IVK's assets (see post #730)

1) 11% of TMC = £8m
2) 18% of BNC = £19m
3) Las Pascualas = £8m
4) BNZ and UMC = £5m

Hence, the total asset is £40m and the asset per share is more than 240p. Nothing really has changed the only thing is that IVK is now more diversified than before.

Note that I have reduced BNC value to £19m from £22m based on the Cash element in TMC. I personally put very small value to the other TMC's projects. All imho of course.

[nghomi] 23/11/2007 15:02

I expect a few of the new 2,316,987 shares would be sold immediately by the new shareholders. IVK has given an exit route to BZC and TQN holders. I expect some weakness in the share price until these 2m shares find a permanent home.

[red river 1] 23/11/2007 13:36

I agree, very good news today, consolidating the position for future development. Yet despite this and the apparent outweighing of buys to sells currently the price is down!

[nghomi] 23/11/2007 11:27

According to the company RNS's, I think BFS would be completed before June 08. I think it was mentioned in their interim results but I could be wrong.

[stemis] 23/11/2007 08:54

I think in the short term the share price will depend on TMC. The next catalyst will be the BFS or drilling results on Las Pascualas. Anyone got any ideas for the timetable on those? Further drilling has commenced at Belitung but with the current bottleneck in assay laboratories I don't think we'll hear anything there until well into the next quarter.

[strow] 23/11/2007 08:45

Stemis-i think we are sitting on a base metal gold mine in this share now and totally agree,although my long term target is in 10 bagger territory-there is no way they would have taken the rest of belitung if it was not worth it-we KNOW that las pasculas is worth it-i am aghast at the potential here now,but very fed up i have no more cash to add at the moment-may be sensible to wait until end of 1st quarter or so next year anyway given current market conditions-this current share price is now underwritten 3 times over as you say-we have a very clever and canny management here-the risk here now just does not compare to tmc and im not suprised that ck is 4:1-all the best and happy adding

[stemis] 23/11/2007 08:39

The current share price is pretty much underpinned by its TMC/Berong assets. However the conservative npv of Las Pascualas at 15,000t pa production of £55m is almost double the current share price. If it does come off then £4-5 a share shouldn't be asking too much surely?

[strow] 23/11/2007 08:21

Well that is just fantastic and amazing news and all for a premium to the current aim price,so no dilution to the s/p-what a boon-ivk is fast becoming an even more amazing investment!The potential value of the assets just does not even begin to compare to what they are going to pay for them-absolute peanuts by comparison-yes!!!

[7kiwi] 23/11/2007 08:13

Well done Stemis.

[stemis] 23/11/2007 08:09

the Company has agreed to issue a total of 2,316,987 fully paid ordinary shares to increase its percentage equity interests in Tarquin Resources plc and Belitung Zinc Corporation plc from 40.2% and 42.5%, respectively to 83.8% and 100%, respectively.



I suppose it was inevitable that IVK would tidy up the ownership of TQN (I presume they will now take out the minority) but the Belitung move was a surprise. The TQN move looks a precursor to funding Las Pascualas to which TQN could never have contributed its share. The capex for Las Pascualas is estimated at £34m. Assuming they need to raise £10-15m equity then IVK have the cash from the convertible (£4.2m) plus cashflow from Berong.

They paid £1.85m for their holding in TQN (valuing it at £4.24m) and £2.12m for their holding in Belitung (valuing it at £3.69m). I guess they must still see value in Belitung (unless they are just baling out their mates).

I'll update the header when I get a moment.

[nghomi] 23/11/2007 07:59

Investika has increased its interest in the Company pursuant to an offer to a
number of shareholders in the Company of one Investika share for every 5.725
Tarquin shares held.
===================

Based on today's annoucement, it seems that BZC is valued at £3.8m. Also we own 91% Las Pascualas which is still valued at ~£8m. imo this is a very good news indeed as it would dilute CK's holding and diversify IVK's assets more. I have no idea what would be the effect to the share price though!

[strow] 20/11/2007 08:16

Soooo predictable

[nghomi] 16/11/2007 14:27

Not that we would see higher IVK's share price, but it is still interesting ....

[stemis] 15/11/2007 12:49

It depends on if you think BNC is undervalued or not.

We're slightly talking at cross purposes. I have quite a few TMC and some IVK as well. Although I agree that there is good value in BNC, I don't really want to increase my exposure. My comments related to a short term arbitrage opportunity.

If TMC hits 350p, what would you think IVK should be?

Probably go down!

;~)

[nghomi] 15/11/2007 12:05

SteMiS,

It depends on if you think BNC is undervalued or not. TMC seems to be about to a break out. Somebody is accumulating TMC for sure. If TMC hits 350p, what would you think IVK should be? IVK's NAV would be certainly a lot higher than 285p.

[stemis] 15/11/2007 09:52

Current share price in Australia is 199p (4.55 at 2.29).

For some reason the UK price has become decoupled from the Aus price and TMC. Over the last month TMC has risen slightly from 275p to 282.5p. IVK has fallen from 195p to 180p. Everything says that IVK should be about 200p.

Unfortunately the bid offer spread quoted by Selftrade is 10p i.e. 175p-185p (and they aren't offering prices inside the spread). So even if I bought and the bid-offer moved to 190p-200p, I'd make 5p or 2.7%. Not really worth it.

[red river 1] 14/11/2007 22:04

IVK certainly does have a little way to go to catch up with its relative value compared to TMC. I bought another 2k today having previously bought the rest back in may substantially higher. I think it represents a bargain at the moment and should be at least £2 compared with the Aus price and probably nearer £2.20 compared to TMC when it was rising back in may. Oh well long term hold and top up as funds become available. Looking forward to the full MPSA by 24th Nov, that should boost the price a bit.

[tiggy2101] 14/11/2007 19:42

I have posted my notes from todays AGM on the TMC board.

[mpclag] 14/11/2007 08:14

very strange 5000 share trade at 7 am this morning-m's puttinh fake trades through to bump up price?

[nghomi] 13/11/2007 16:51

badgerbadgerbadger,

If market was always right, there would never be a buying oppurtunity for the patient investors!

After today's TMC rise and based on my post #730, IVK's assets is worth £40m imo. This would be around £2.85 per share NAV.

[strow] 13/11/2007 14:29

Dont think the mms have caught onto the fact that the exchange rate has changed-now $a 2.3 to the pound,bwdik-they probably dont care anyway!