Latitude Resources Share Discussion Threads

[rickus] 24/8/2007 05:07

Thought I was the only one up at this time!

I agree shoggoth. Tanami is worth only about £0.5m to LTR at present but if they follow through on today's drill results that could become a lot more.

Received the circular some time around last week-end.

[shoggoth] 24/8/2007 04:55

Hi Rickus, promising but no cigar just yet.
Tamaya is the one to watch, it will constitute more than half of Latitude's cap.

PS Has anyone had the circular from Martyn yet, which was supposed to have been sent last week?

[rickus] 24/8/2007 04:51

First part of a release from Tanami today - sound like good grades to me but has not done much to their share price so far.


SIGNIFICANT ASSAYS RECEIVED FROM COYOTE DIAMOND CORE DRILL PROGRAM
Assay results have been received for the Coyote diamond core drilling program including the following high grade intercept:

CYDD0162 0.78 metres at 157.3g/t Au from 205.22 metres, (including 0.31 metres at 257.4g/t Au)

A diamond core drilling program into the Buggsy, Coyote and Muttley high grade gold lodes at Coyote (see Figure 1) was completed in early July 2007.

[shoggoth] 23/8/2007 13:16

Tamaya news. May be relevent one day.



Development of the Lichkvaz Gold Mine announced
• JORC Inferred Resources of 3.0 million tonnes at 7.0 g/t gold, 31.5 g/t silver, and 0.5% copper for a total of 675,000 ounces gold (cut off grade of 2g/t)
• Production to reach 100,000oz gold per annum rate by March 2009
• Capital Cost of development estimated at USD60 million
• Operating costs expected to be USD300/oz, inclusive of royalties
• Financing being arranged to minimise dilution for Tamaya shareholders

[loinerscum] 21/8/2007 20:01

Thats around £900,000 that Investec have spent hoovering up almost 20million LTR shares this month. You don't spend that sort of money on a whim. These buys are to my mind the next best thing to Director buying due to Investecs close links with MK, I'm really surprised at the lack of comment and wider market recognition. Sure the markets have been difficult generally due to the Yanks inability to run a building society satisfactorily (again) but LTR seems a no brainer to me and folks aren't picking up on it.

Cheers
Andy P

[rochdale] 21/8/2007 16:40

willing buyer and willing seller

investec must have good reason for accummulating

news will come

[scrod] 21/8/2007 16:24

Its Gartmore isn't it?

[thecynical1] 21/8/2007 15:38

where are they getting the stock ? they has been f all volume for the last couple of days.......has anybody spoken to MK recently ?

[thecynical1] 21/8/2007 15:32

another RNS ref Investec......

[scrod] 16/8/2007 21:44

I agree with you, Aim Trader. This is taken from their 13th August statement:

"...and that Latitude continues to pursue new investment opportunities in the mining sector in accordance with the investing strategy (the "Investing Strategy") set out at the time of its Admission to trading on AIM. The Investing Strategy is to seek to identify, evaluate and acquire interests in prospective projects and companies in the resource sector with a view to providing expertise, management support and, subject to further fundraising, capital to those projects and companies as appropriate. The Directors and management of the Company have a broad range of complementary skill sets and knowledge, which combine extensive operational experience in the mining and mineral exploration industry with specialist expertise in resource banking, mining finance and the underlying commodities markets."

The only downside is that its not so exciting as an 'investment trust.'

[aim_trader] 16/8/2007 20:22

Nice Article on Latitude:

14th August 07 Latitude Resources: disposal of Chilean assets marks new direction for company.

...divested itself of its directly held assets in Chile, turning the company into a pure mining investment house. Considering the company's track record on investing in other companies to date, this doesn't seem like a bad turn of events.

[scrod] 16/8/2007 17:51

Gartmore have sold 3m shares then. That's where Investec are getting some of them from.

"Thu Aug 16, 2007
Notification of Share Interest

The Company has received notification from Gartmore Investment Ltd that as at 7th August 2007 they had a beneficial interest in 12,650,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), which represents approximately 4.69% of the issued share capital."

[scrod] 14/8/2007 18:14

In theory, they know as much as us (about LTR that is).

[charles m] 14/8/2007 18:12

It's all a bloomin mystery. One thing is for sure, Invstec are NOT spending this money for nothing. They have clearly seen something which everyone else is missing.

What or rather, how much would Investec be looking to make on their capital? 25%- 50% maybe more but the main point to consider is the exit. They cannot simply exit on the AIM as there are no buyers for 50,000 stock never mind 50 million. That indicates that they have another exit route.

What we have to do is guess. Guess what they are up to and more so guess what price they intend to get for their posistion.

Looks like the wrong time to sell any of these until we get the fuller picture.

[shoggoth] 14/8/2007 15:52

Sorry, I have no answer for that, except the obvious, i.e. there's a discount.
Unless there's a consortium that wants to get a controlling stake in one of the co's Latitude owns, but I think that unlikely.

[thecynical1] 14/8/2007 15:48

shoggoth...I mean why would investec actually take over a company....I understood that they are an investment company.....so they may be interested in having a significant holding in a company but there would appear to me to be no reason for them to actually take over the company themselves.....

[shoggoth] 14/8/2007 15:43

For a start, at 4.5p the price is right.
A takeover of the co. makes sense at this level.
But - the volume has dried up today, maybe they need to offer more.

[scrod] 14/8/2007 15:40

Perhaps they just think its good value for money at this price and have a lot of money trying to find a home.

[thecynical1] 14/8/2007 15:38

hi shoggoth...I was wondering about the takeover idea....but why would Investec want to do a takeover...or are they working on behalf or with someone else...? has someone else got an eye on the company...if so...why?

[shoggoth] 14/8/2007 15:37

Afternoon cynical - follow the money. Which is clearly in Tamaya.
A look at their recent activities should provide a clue.

Investec's holdings are moving up sharply. Two points:

- at some point Investec and friends will have enough to roll any vote, and there is one coming up.

- another 9% and they have to make a takeover offer. Is this want they want?

[thecynical1] 14/8/2007 15:31

afternoon all ! they just keep on buying...........I wonder what they reckon they know that we apparently do not know....any thoughts?

[shoggoth] 14/8/2007 01:58

Either 9.5p per share, or 9.5M total cap.

[cerrito] 13/8/2007 21:25

If anyone is an Evolution client and can post the EVO note that I understand came out today with a £9.50 target that would be much appreciated

[shoggoth] 13/8/2007 14:25

Investec bought another 2 million since the last time.
The company are saying plainly they are undervalued, so Investec should be happy to go another 1p or so.

Question: if liquidity is an issue, who are Investec going to sell to? Maybe they won't - maybe the aim is to liquidate and distribute the proceeds in cash.

I think it is a mistake to sell now. Tamaya will form the core holding - they are trying to make an acquisition and are looking very strong in Oz. There's more than one reason for having a cash shell listed in one country with holdings listed in another.