Origo Partners Share Discussion Threads

[zcaprd7] 26/6/2018 16:09

Kincora welcomes a new cornerstone investorSource: PR Newswire (Canada)The LIM Asia Special Situations Master Fund Limited, a fund managed by LIM Advisors Limited ("LIM"), has acquired a 28.7% interest in KincoraThe off-market transactions remove recent overhangs to Kincora's share priceLIM is one of the longest operating alternative investment managers in Asiaand it invests across the corporate and capital structure in deep value and special situation opportunitiesVANCOUVER, June 25, 2018 /CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV: KCC) is pleased to welcome a new cornerstone investor, the LIM Asia Special Situations Master Fund Ltd ("LASSMF").  LASSMF has recently acquired, via the secondary market, a 28.7% interest in total to become Kincora's largest shareholder.Sam Spring, President and CEO commented, "We are very pleased to welcome LASSMF, a fund managed by a pre-eminent Hong Konginvestment manager, to strengthen our register and transition out of the recent period of uncertainty that has weighed on Kincora's share price. The secondary market acquisitions are a clear sign of confidence for the new board and the strategy Kincora is pursuing. Removing the overhang provides the foundation to again focus on advancing the first modern Tier1 drill testing and district scale exploration program in this highly mineralised belt where we hold the dominant position and are looking to drill test two targets this field season, and, be in a favourable position for further expansion activities."LIM's Founder, Chairman and Chief Investment Officer, George W. Long, said "We are excited to have secured a strategic position in Kincora given their outlined targets and dominant land holding in the world-class Southern Gobi copper-gold belt. We have been investing in Mongolia for over 15 years and also have experience investing in mining and natural resource projects in Central Asia, Indonesia, Australia, the Philippines, and other parts of the world.The Company has a strong shareholder register backing the team which is credited with multiple Tier 1 copper discoveries, has a proven track record in Mongolia, is pursuing further countercyclical expansion, and we see opportunities to support the Company given the structurally attractive medium term outlook for copper prices".Link to Kincora's updated presentation: www.kincoracopper.com/investors/presentationsAbout LIM LIM is one of the longest operating alternative investment managers in Asia.  Further information: www.limadvisors.comAbout KincoraKincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on Tier 1 copper-gold projects in Mongolia.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.SOURCE Kincora Copper Limited?Copyright 2018 Canada NewsWire

[ryan83] 26/6/2018 07:35

Wonder what the real NAV is here. Must be north of 0.5p?

[zcaprd7] 12/6/2018 08:33

China rice was around $30m of $100m nav, surely if impaired to zero, this is still an over reaction?

[zcaprd7] 06/6/2018 13:55

Sounds about right... Its getting down to option money now!

[russman] 06/6/2018 12:49

I would refinance opp.Choose a chinese investment.Buy the majority.Swap the zdps for equity.Cannot see any other option.

[rjmahan] 05/6/2018 18:42

You cant sell at any decent size.

[zcaprd7] 05/6/2018 17:31

It's definitely the smaller market cap, given the shares in issue... Ominous fall today, still 1p odd to buy, but selling looks almost pointless?

[zcaprd7] 30/5/2018 16:48

Hmm, I'm seeing conflicting market caps, one was £16m and one £4m.My point was the market is valuing the portfolio at the prefs payoff amount plus the market cap for the ords... I was trying to understand what the market thinks the current portfolio is worth by working it backwards ?

[russman] 30/5/2018 09:31

Say $20m; but that has been promised to ZDPs.
Unless a rabbit comes out the hat; opp will be lucky to stay afloat.

[zcaprd7] 29/5/2018 14:29

It will have to be a brutal impairment to justify the current market cap? Market thinks the whole portfolio is worth $20m or so?

[zcaprd7] 28/5/2018 13:26

I think I proposed that last time... Take the dilution, but just have one class of equity.

[russman] 28/5/2018 11:05

Have not got the cash. Offer more equity to ZDPs.

[zcaprd7] 27/5/2018 10:40

I don't mind a bit of impairment (up to 50%) as long as it acts as catalyst to divestment...

[rjmahan] 25/5/2018 17:55

More bad news on impairments - still discount is massive....

[iankn73] 23/5/2018 00:45

Sam Spring CEO mentions the Origo partners 23% investment overhang due to Origo deciding to divest their whole portfolio before November 2018.

[zcaprd7] 17/5/2018 13:41

Not if they unload the whole portfolio, zdps get refinanced per the current rules?

[russman] 15/5/2018 15:12

Have to refinance the zdps.

[zcaprd7] 14/5/2018 10:24

Interesting theory, he certainly knows the true value of the portfolio, he could team up with a would be buyer I suppose?

[rjmahan] 13/5/2018 11:58

Thinking about this zcaprd - could well be Niklas Ponnert - step down from board, prepare an offer - done ?

There is a kind of logic to this - no evidence but logic....

[zcaprd7] 10/5/2018 11:19

Unless they sell the whole thing? Problem with that, is the temptation to kitchen sink all the bad news to push the nav right down... It will most likely be one of the current shareholders who will come in for it, and they have board presence.

[rjmahan] 08/5/2018 18:44

Almost certainly will be extended.

[zcaprd7] 08/5/2018 09:57

Yep, it seems they are getting serious about assets value at last... Supposed to be done and dusted by this November from memory?Will they get an extension through with the various shareholders and preferences holders?

[russman] 04/5/2018 15:41

Write Moly off.

[zcaprd7] 25/4/2018 00:35

The Company announces that it has entered into an unsecured loan agreement with Lars Bader (the "Lender") under which the Lender has provided the Company with a US$2.5 million (approximately GBP2 million) unsecured loan (the "Facility"). The Facility carries a rate of return (payable at repayment) of the higher of 12% per annum (calculated on a non-compounding basis) and 1.5 times the amount of the Facility.The Facility is repayable on the earlier of (i) 2 December 2020; and (ii) when the Company has distributed US$6 million to the Company's shareholders in accordance with articles 4.10 to 4.12 of the Company's articles of association ("Articles") provided it has sufficient funds to repay the Facility. The Company may at any time prepay the Facility, in whole or in part, without penalty. The proceeds of the Facility will be applied, in accordance with article 13.1.1 of the Articles, to discharging Origo liabilities to professional advisors (excluding those of Origo Advisors Limited) existing as at 19 August 2016

[zcaprd7] 23/4/2018 14:36

C) lars wants his money before any distributions?The "using it for working capital" excuse is going to wear a bit thin with the preference holders?