Ocean Resources Capital Share Discussion Threads

[vision88] 25/7/2003 22:12

48,000.000 in total; amazing amount whats behind it i wonder ???

[energyi] 25/7/2003 21:52

did you notice that huge volume?

[vision88] 25/7/2003 21:43

good idea energyi i might just do that

[energyi] 25/7/2003 21:39

Hmmmm.
Try posting a Low bid thru your broker,
and see what happens.

By Nov., you may be able to trade around the MM's, I hear

[vision88] 25/7/2003 20:45

offer is still at 30p if it hits 20p im in

[energyi] 25/7/2003 20:32

In the low 20's, OCE might be a resonable punt

[energyi] 16/7/2003 07:21

NAV must be well down. Impossible to calculate however

[energyi] 16/7/2003 07:16

karzy,
you are quite a night owl: 4:26 am. Wow.

[karzy] 16/7/2003 04:26

Just got in, what happened to hui and xua last night? phew! old twowave on kitco was right again. Tried to see what the proper price of this stock was yesterday on a trade but it rejected the symbol, so much for liquidity. Strata and St.Barbara seem to be linked to another company in Perth called Ocean ???? who seem to pull strings, funny how theirs were share swaps not convertible loans.I suppose the differance between this and REI is that OCE don't have to print a NAV every day, good job with a look at the share graphs above it will need a miricale to reach the conversion prices lets hope they can pay back their loans when the day comes. Anyway coming light now I had better get back in my box

[energyi] 15/7/2003 17:47

Defiance / St.Barb : Still in?

WHO'S RIGHT & WHO'S WRONG ?
Posted By: KD6 ... Post Time: 7/7/03 02:32

Today's market in SBM on the ASX is at 4c AUST. SBM converts into DM at about 4.4 shares to each DM share. On that basis the Aust market is valuing each DM share at a little under 18c Aust, ie. about 16c Canadian.

Now to me that looks like one hell of an opportunity if the Canadian market is right or alternately one highly overvalued stock on the TSE. As for my thoughts I think it may eventually settle somewhere in between given as I said in my last post that this lot has got a lot of things to get right before the market will re-rate this company upwards and elevate its prospective PE. What do all you Canadians think??? NB. ST BARBARA has just sold its substantial holding in Dioro Exploration for over 4 million $AUST so this could be a clearing of the decks or another grab for more cash to keep itself afloat in order to get this merger completed. Certainly a better option than issuing more shares to add to the eventual capital structure of DM.

2)
Who's Right and Who's Wrong Posted By: goldsoldat
Post Time: 7/9/03 14:20

I don't understand the prior subject post. I believe the Santa Barbara portion of the original transaction has been eliminated, by consent of all parties, some time ago. I do not believe the Santa Barbara stock price has any relevance to the current DM stock price. If I am in error, please advise. Goldsoldat.

[energyi] 15/7/2003 17:45

DEFIANCE MINING: a summary

Posted on StkHse. By: KD6 ... Post Time: 7/5/03 00:40

Well Defiance is up and running ( UP or DOWN ? ). Now that is the big question. Just remember that when the SBM part of the equation is added to the capital structure this company will have close to 200 million shares on issue. Naturally SBM will bring value and projected production of somewhere around 200,000oz ( if management get it right ) from Meekatharra and Paulsens in 2004 and up to nearly 300,000oz pa. by 2006.

Tasiast is supposed to produce 100,000+ oz in 05 and 06. So with LUCK this company might be producing 350,000 to 400,000oz pa within 2yrs.

At the original briefing the projected cash costs were supposed to be around US$255 in 2003 and US$210 in 2004. It appears to me that this has already been blown way out of the water so it is anyone's guess as to what the cash costs/ profit-loss margins per ounce of gold will be. If I was a punting man I'd guess this lot will just break even in 2004 and perhaps make 50 to 80 US$ per oz in 2005/6. If that all worked out we might be looking at profits of between 20 to 32 million US$ ie. approx 10c to 16c per share.

Sounds fine when you work things through but have this lot got the "balls" to pull it off? Also remember there is some sovereign risk with part of the production coming from an African country. In my estimation I reckon 50c is not a bad price when one looks at all the facts and considers the inherent risks associated with bringing three mines into full production and an uncertain gold price and a very much overvalued US$ ( which at some time in the future will collapse into one big heap thus driving the gold price up in US$ terms but not necessarily up in Canadian/Australian Dollar terms.

So everyone TIME WILL TELL !!!

[energyi] 15/7/2003 17:31

I'm sure OCE can bounce back from whatever Low it hits

But the big slide in the ThreeDog share price helps
to explain why Ocean stock is so troubled

[energyi] 15/7/2003 17:28

AFTER THE THREE DOG NIGHTmare,
this old news reads ironically

Ocean Resources Capital HoldingsPLC ... 17 June 2003

The Board of Ocean Resources Capital Holdings plc ("the Company" or "Ocean") is
issuing the following trading update having been admitted to trading on AIM some
three months ago.

The Company's initial portfolio comprised 16 resources and resource related
companies a number of which have had material developments in the last quarter
and certain further investments have been made:

- Midas Gold plc ("Midas") has entered into a conditional agreement
whereby Midas is to be acquired by Geomaque Explorations Limited ("Geomaque") of Toronto (TSE: GEO). This acquisition is expected to be completed at the end of June 2003. Geomaque has recently announced the closing of a private placement to raise some Canadian$7 million. The proceeds of this placing are to be used for the completion of a bankable feasibility study at the Tasiast project, which Geomaque is acquiring through the acquisition of Midas. Following the acquisition, when the merged entities will be renamed Defiance Mining Limited, Ocean will own 9% of the issued capital of Defiance Mining Limited.

- Perth based mining company Burdekin Pacific Limited (ASX: BKS)
announced on 6 June 2003 that it had entered into a Heads of Agreement to sell
an 80% interest in its Mt Kasi Gold Project to Straits Resources Limited.
Provided that the due diligence is successful, Burdekin will receive the
equivalent of A$6.3 million. Ocean currently holds A$700,000 10% Convertible
Unsecured Loan Stock 2005 and A$2.8 million Promissory Note 2005.

- The unlisted Strata Gold Corporation has recently received a
letter of conditional listing on the TSX Venture Exchange and its listing is to
be supported by brokers Raymond James and Loewen Ondaatje McCutcheon. Strata is expected to be listed in July 2003.

- Ocean is a founder and joint venture partner with Narrowstep TV,
of www.rig.tv an innovative broadband internet channel dedicated to the global
mining industry. Ocean and Narrowstep plan to work together to develop and
expand www.rig.tv as a channel at the centre of the mining community, whose
services will include sponsorship, advertising and the broadcasting of AGMs in
the resource sector.

- Ocean has made an initial investment of A$60,000 in Intierra
Limited, a private Australian company that is using a sophisticated internet
based delivery system to offer aggregated geological, mineral lease and
financial information that is directly relevant to the global resource industry.
Intierra has recently announced a merger with Minmet Australia Pty Ltd, a
licensed distributor of Australian Stock Exchange data and the most
comprehensive source of information on the Australian resource sector. Following
the merger the companies plan to grow and develop the business with the
objective of becoming "the Bloomberg of the natural resources sector".

The board of Ocean is particularly pleased with the progress made by these and
other of its portfolio companies in developing their assets. The Company is also
excited about its new investments and looks forward to working with those
companies to develop their full potential.

Peter Seabrook, Chairman of Ocean said, "We will continue to seek to keep
shareholders and other interested parties up to date in the development of our
portfolio companies, both in the regular interim and final results announcements
and also in trading updates. This initial trading update shows that we have
selected some interesting opportunities that are starting to show their value
for the future and I look forward to bringing shareholders more good news. We
expect to issue our interims in August."

[energyi] 15/7/2003 17:20

Geomaque Announces Completion of the Acquisition of Midas Gold plc and the Release from Escrow of the Previously Announced Cdn$7,342,470 Private Placement of Subscription Receipts Proceeds
Tuesday June 24, 9:14 am ET ... TORONTO, ONTARIO-- (amts. in US$)

Geomaque Explorations Ltd. (TSX: GEO - News; "Geomaque" or the "Company") is pleased to announce the closing, on June 23, 2003, of the acquisition of all of the outstanding shares of Midas Gold plc ("Midas") and the release from escrow of the proceeds from the previously announced private placement of Cdn$7,342,470 of subscription receipts. Each Subscription Receipt entitles the holder thereof, upon exchange for no additional consideration, to receive one Geomaque common share and one half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one Geomaque common share at Cdn$0.09 per share, and shall expire three years from the closing date. Net proceeds to Geomaque after brokers' commissions and certain other expenses were Cdn$6,805,609. This financing was led by Haywood Securities Inc. and included Griffiths McBurney & Partners and Paradigm Capital Inc.

Proceeds of this offering will be used to fund the completion of a bankable feasibility study at the Tasiast project and for general working capital purposes. The initial results from the on-going in-fill drilling program at Tasiast were announced on May 12, 2003. The infill drilling program at Tasiast is now completed and initial results of the balance of the program are anticipated to be announced in the next several weeks. A complete updated resource estimate is expected to be prepared and filed before the end of the third quarter.

All of the matters before the Annual and Special General meeting of shareholders of the Company held on June 17, 2003, were approved by in excess of 99% of the shares voting on each such matter. The statutory amalgamation is expected to become effective on or about June 25, 2003.

The Toronto Stock Exchange ("TSX") has conditionally approved the listing of Defiance on the TSX under the symbol DM. Geomaque shares will continue to trade on the TSX under the symbol GEO until the receipt of final Defiance listing approval from the TSX.

[energyi] 15/7/2003 08:05

Capt.Swing,
Maybe not an actual spiral yet.
But the risk remains.
This action is likely to make some of these stocks very cheap.
But where will it stop?

[karzy] 15/7/2003 01:38

energyi
There is a list of companies they invested in on Miningweb(by Ken Gooding 26/02/03).Hemmscott have all Fridays as sales and all yesterdays as buys although most of them are broker to broker.Interims out in August.

[captain swing] 14/7/2003 21:40

It looks from this chart as if the marketmakers began to mark it down before there were any sells at all. Could it be that some unwritten lock-in was going to be violated (and perhaps quite legitimately, they were aware of the seller)? Could it not be an isolated instance? Virtually all the trades on Friday were at the same price, 40p (including a couple of crosses). Is that really a "spiral"?

[energyi] 14/7/2003 16:10

VICIOUS CIRCLE?

Looks like OCE and its investee companies are caught in a downward spiral.
As investee companies sell OCE shares, the price falls and remaining holders
get nervous. This pushes down their stock prices, because they get less
for the OCE shares than expected, and may have problems squeezing out
enough cash to advance their projects.

As the investee companies watch their stock prices fall (due to the falling
value of their OCE investments), then the NAV of OCE also comes under
pressure.

[energyi] 14/7/2003 15:22

karzy,
"heavily involved in St. Barbara, Strata, Midas and Geomaque"
...
Have you any more info on the portfolio? 17 co's:

Minesite: "Minews has to admit that he has not heard of many of the seventeen companies in which Ocean has invested"

Archipelago Resources
This is a company coming to AIM which has an 85 per cent interest in the Toka Tindung gold project in Indonesia. Ocean Resources has invested £4 million in a 10 per cent convertible which would give it 41.4 per cent of the expanded issued capital on conversion

BM Diamondcorp
...is listed in Canada, but its operations are in Indonesia where it has just completed a feasibility study on its 80 per cent owned Cempaka alluvial diamond mining project. Ocean has invested £1.75 million in a wholly owned subsidiary of BM which is incorporated in Singapore and holds a convertible loan carrying a coupon of 12 per cent. This is convertible into BM Diamondcorp and would give Ocean, on conversion, 67.3 per cent of the company.

Midas Gold
Ocean has taken a straight investment in the equity via a share swap and for 3 million of its own shares it has received 15 million shares in Midas which is equivalent to 25.6 per cent of the equity

Defiance Mining
...new mid tier producer, created thru merger of:
St Barbara Mines, an Australian gold producer
Geomaque, a fully listed Canadian gold producer

Bralorne Pioneer Gold Mines
Ocean has invested £5 million through a gold loan carrying a coupon of 10 per cent at a gold price of US$315/oz. together with share purchase warrants which , when exercised, would give Ocean 17.7 per cent of Bralorne's equity

still unlisted:
Cambrian Forestry Products, for instance, is a UK company with timber interests in Bulgaria and

Phamine Industrial is a black economic empowerment company which is the largest tin miner in South Africa and owns the only tin smelter plant in Africa.
(Killed off by SA Central Bank?)

[karzy] 11/7/2003 19:29

Like we found with REI when these lads have to sell they have to take what's on offer.They seem to be heavily involved in St. Barbara, Strata, Midas and Geomaque. St.Barbara, who have yet to merge with Defiance(Midas and Geomaque),have had interesting news flow lately.Maybe best to stand to one side and see what happens, REI was a good pick-up so maybe this one could do the same in the future.

[energyi] 11/7/2003 18:59

That is a sharp & scary drop!

[karzy] 11/7/2003 18:45

This one looks like it is suffering from the same disease as it's sister trust REI, exchanging shares in illiquid mining companies who then have to flog them cheap for some cash. Might be worth keeping an eye on in the future or maybe even dipping a toe in now.