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| Share Name | Share Symbol | Market | Stock Type |
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| Taiwan I.T | TWI | London | Ordinary Share |
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Posted at 20/9/2022 22:25 by strollingmolby A nice write-up on Titan's prospects here, with the following conclusion:The company displayed competence in navigating adverse market conditions and turned unforeseeable circumstances into opportunities for growth and streamlining. In a display of fiduciary discipline, Titan has remained politically neutral in favor of shareholder interests - a welcome reassurance that the company's governance structure is dedicated to the bottom line. In addition to operating in a growing industry and enjoying relative insulation from major supply chain shocks, Titan has solid financial fundamentals. Moving further into FY22, the company should continue on its trend of growth and profitability. While the surge in growth from FY21 cannot be sustained at the same rate, a slowdown merely represents the normalization of operations in a new environment and should not deter investors from purchasing this undervalued stock as a long-term buy. |
Posted at 23/1/2014 11:47 by kimboy2 Seems to be a bit of action at TWI;In a Schedule 13D filing with the Securities and Exchange Commission, MHR said it believes Titan's shares are undervalued, and seeks "to engage in discussions with management and others concerning the business and operations of (Titan)." According to C. Schon Williams, an analyst with BB&T Capital Markets, Titan's management team already has had initial conversations with MHR. "For the time being, the fund (MHR) has yet to detail any specifics on the changes they would like to implement," he says. (BB&T Capital Markets is a division of Scott & Stringfellow Inc., a registered broker/dealer subsidiary of BB&T Corp.). On its website, MHR Fund Management, which Williams describes as an "activist investor," says it takes "a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies." It seeks to "exert control or significant influence on its portfolio companies," which it believes is "essential to preserving and creating value." Not quite sure how it intends to create value but presumably they are thinking of a sale. |
Posted at 21/2/2013 16:18 by venture traveller Disappointing news from Cat has in part at least been the catalyst for a correction on the DOW, and thus we also have Titan down significantly. $27 was always going to be a stumbling block. Let's hope the forthcoming announcement will cheer traders up, as $27 needs to be left well behind before the price has a chance of breaking $30.$45 may well be achieved. Investors will need to see a few quarters of increasingly stronger results, with debt being paid down, and the new additions adding to the bottom line - rather than draining it. |
Posted at 13/6/2003 13:52 by energyi AIM float stalls on Gold Fields deal By: Ken Gooding Posted: 2002/07/17 Wed 15:40 ZE2 | © Miningweb 1997-2002 LONDON - A dream of a deal with South Africa's Gold Fields and a separate one that will take Twigg Minerals into a third African country is delaying the UK based gold explorer's debut on the London Stock Exchange's Alternative Investment Market (AIM). Twigg was hoping to join the other exploration and mining companies rushing to get an AIM listing in July before London goes on summer holiday and activity dwindles to a trickle. But the paperwork associated with the Gold Fields deal, which gives the South African group 14.8 percent of Twigg, proved more time-consuming than expected. In any case, Twigg has to wait until July 25 to see if its offer for East African Resources, an Australian junior, is successful. Mark Parker, managing director, says that present stock market volatility is adding more uncertainty to the timing of Twigg's AIM entry. "But the board has taken a firm decision to list and we will do so before the end of this year." Gold Fields and Twigg executives first got together at the mining Indaba in Cape Town early this year. Gold Fields is attracted to Twigg particularly by the UK company's Miyabi gold prospect in the Lake Victoria goldfields of Tanzania. The South African group has stumped up £500,000 for a package of shares and warrants that will give it the 14.8 percent of Twigg as well as the right to form a joint venture to develop the Tazanian project. Most of the money must be spent on Miyabi but until £400,000 has been paid out Gold Fields can withdraw. However, once that sum is spent, Gold Fields can earn 51 percent of a joint venture to develop Miyabi by forking out another £1.5m on further exploration there. The South African group can move up to 70 percent by completing a bankable feasibility study on the property. While the Gold Fields' shareholding has strings attached, Twigg is unusual because it is very rare for a small exploration company to attract institutional investors, even when it has a market listing. Nevertheless, Twigg already has attracted the J P Morgan Fleming Resources Fund, which at present owns 8 percent. The Gold Fields deal is right in line with Twigg's avowed philosophy that it should acquire promising areas, evaluate them quickly and cost-effectively, then develop the best discoveries to a point where they become attractive to the mining majors. The £500,000 from Gold Fields plus £200,000 raised via a share placing with the help of brokers Loeb Aran in April gives Twigg enough cash to see it through the 15 months before Gold Fields finally makes up its mind to continue with Miyabi. However, Parker says Twigg wants to raise £2-£2.5m in conjunction with the AIM listing so that the company can speed up exploration work and do more of it. If, as expected, the East African all-share offer worth £375,000 is accepted, Twigg will have control of a useful set of properties in Zambia. East African was to spend £1.8m on these but Parker says: "We would be reviewing this if the bid succeeds." A move into Zambia would fulfil another element in Twigg's three-pronged strategy for the next couple of years. According to Parker: "We want to consolidated in Tanzania, because that is elephant country, and acquire more properties there." The company also wants to acquire properties in other African countries it already is working in Mozambique. "The idea is to diversify out of Tazania while focusing mainly on that country," says Parker. The third strand of the strategy involves putting the Twigg team's expertise to work the company was formed by a bunch of explorationists with strong technical backgrounds who believe they have much to offer other junior mining "start-ups." "We don't want to be an investment fund but we can offer cash and expertise to start-ups. Then we can either absorb them or float them." Parker himself knows Africa and its ways well after working for European and UK government agencies on the continent, including a spell in Tanzania. John Park, Twigg's Australia based chairman, has a successful track record in southern Africa as he was a founder director of Samax, the UK exploration company that discovered the Golden Pride mine in Tanzania, now owned Resolute, the Australian group, and also an extension to the Geita gold mine in that country, called Kukuluma. Ashanti Gold Fields bought Samax for US$140m in November 1998 and Geita is now jointly owned by Ashanti and Anglo American. Since it was founded in 1996, Twigg has been nursed along by Loeb Aron, a "boutique" financial services company that specialises in helping small exploration and mining companies. But Loeb Aron is not one of AIM's nominated advisers (nomads) and Parker says Twigg has still to select the nomad it will use for the intended listing. Analysts point out that chairman Park has been associated with two previous AIM listings for exploration companies and they employed Nabarro Wells as nomad and W H Ireland as broker - so these two are likely to be on Twigg's list. At present Twigg is traded on Ofex, the lightly regulated London facility for matched bargains where its shares have changed hands at a high of 17p in the past year and have been as low as 7p. Today the price opened at 13.5p. |
Posted at 01/6/2002 11:47 by backwardation Twigg Minerals plc - Final Results Twigg Minerals plc Newstrack Announcements 31/05/2002 TWIGG MINERALS PLC RESULTS FOR THE PERIOD ENDING 31 DECEMBER 2001 The Twigg Group consists of Twigg Minerals plc and its wholly-owned subsidiaries Twigg Resources Limited in the UK and Twigg Gold Ltd in Tanzania. The Group's consolidated balance sheet at 31 December 2001 and profit and loss account for the year ending 31 December 2001 are appended. CHAIRMAN'S STATEMENT Twigg's second annual report covers the year ended 31st December 2001 and reflects a period of growth and consolidation for the Company. As one of the most effective and cost efficient junior explorers in our field, Twigg continues to put more than 80 pence of every GBP1 it spends into exploration, showing our ability to operate successfully in Africa. These strengths were recognised in early 2002 by Gold Fields, one of the world's biggest gold companies, which agreed to invest GBP500,000 in the Company in return for a right to enter a joint venture on the Miyabi project. During 2001, we added to our Tanzanian licence portfolio through agreements with local licence holders over new areas at Mwabomba (Miyabi), Kakumbi and Zanzui. At Miyabi, we drilled an additional 78 holes with a total of nearly 5,000 metres. We continued to explore our projects in Tanzania through an accelerated programme of geochemical and geophysical evaluation. In Mozambique we have extended the tenure period of our Namama licence in order to follow up geochemical anomalies and a significant sulphide horizon. On the corporate front we held our first AGM in London and established a Company share option scheme to provide incentives to our staff and management in the UK and in Africa. We added to our operational strength through the appointment of Chris Davies as Executive Director and John McDonald as Exploration Manager, Tanzania. A placing to raise GBP200,000 in working capital was completed in August and the board determined to take the company to a listing on the AIM market during 2002. TANZANIA To date, 96 holes with a total of 6281m have been drilled at Miyabi. The better intersections included 42m at 2.07g/t and 30m at 2.2g/t from Kilimani; 15m at 4.22g/t and 18m at 2.68g/t from Shambani, and 21m at 1.9g/t and 6m at 4.3g/t at Ngaya. Geological information yielded by the drilling showed that although the mineralisation is related to shearing in all three zones, the principal host rocks are quite different in each of the zones. Using the limited drill results to date, the Company has been able to determine an inferred resource of 140,000 ounces of gold, made up of 2,216,790 tonnes grading 2.13g/t. The Directors believe that there is excellent potential to extend this initial resource by further drilling. In addition, remote sensing studies including photo-geological interpretation over the Miyabi licence holdings were undertaken, to elucidate regional structural controls on mineralisation and to help define drilling targets. Soil geochemical and ground magnetic surveys were extended to cover the northern Mwabomba licence. Sophisticated analysis of the magnetic data, such as the image shown on the cover of this Annual Report, allows many subtle structures to be recognised. During the geological mapping of the Kakumbi licence, Twigg's geologists collected nine "grab" samples from old workings at three locations in the south-eastern part of the Kakumbi licence: Mwagi Magi North, "Saidi's pits" and Lagunga. Six of the nine samples assayed more than 1g/t, with two values over 15 g/t. A ground magnetometer survey of Kakumbi has just been completed and the results show shears and other structures of interest. MOZAMBIQUE In Mozambique, a cluster of samples from the stream sediment reconnaissance survey of the Namama Extension licence yielded anomalous nickel, including one sample which contained in excess of 1% nickel. The exploration team also discovered an extensive sulphide unit up to 10m thick which was traced along a strike length of 7km. There is aeromagnetic evidence that it may extend for more than 40km. The economic significance of the unit is not yet clear as trenches across it have so far yielded only iron minerals, but its presence shows that Twigg's geological hypotheses regarding the Namama licences were valid. The Mozambique Government has awarded a six-month prolongation of the Namama Extension reconnaissance licence to allow these results to be followed up. CORPORATE & FINANCIAL The Board has agreed in principle to move Twigg's share listing onto AIM, the Alternative Investment Market of the London Stock Exchange, to take advantage of AIM's generally larger investor base, greater liquidity and better access to institutional investors. There has been a good level of interest from institutional and other investors ahead of this proposed move, which is expected to take place during mid-2002. We believe that opportunities exist, both in our existing focus countries - Tanzania and Mozambique - and elswhere in east and central Africa, to acquire good new projects by merger, acquisition, or through creative alliances with other exploration companies. Twigg's board is currently investigating a number of such opportunities and we expect to make progress in this respect before the move to AIM. During the year 1,554,167 shares were placed and 2,061,572 shares were issued on exercise of warrants, raising in total a net GBP361,780 for the Group's exploration activities. The placings included 500,000 shares with Save and Prosper Commodity Share Fund (now JPMF Natural Resources Fund), bringing that Fund's total holding at the time to almost 5%. POST-BALANCE SHEET EVENTS In March 2002, Gold Fields Limited made an indicative offer to make an equity investment of GBP500,000 in the Company, of which GBP400,000 will be directed to the exploration of the Miyabi project and the remaining GBP100,000 will be available as general working capital. Both Twigg and Gold Fields believe that there is considerable upside potential at Miyabi and Gold Fields will be granted the right to joint venture with Twigg, to evaluate and develop the property if results over the coming months continue to be promising. Gold Fields Limited was formed in 1998 by combination of the gold assets of Gold Fields of South Africa Limited and Gencor Limited, and operates mines in South Africa, Ghana and Australia. Attributable gold production is more than 4.5 million ounces per year, reserves are 85 million ounces and resources more than 150 million ounces. Gold Fields is listed on the Johannesburg (GFI), NYSE (GOLD), London, Paris and Swiss exchanges. I am delighted that Gold Fields has chosen Twigg as its partner in Tanzania and very pleased at the confidence Gold Fields has expressed in Twigg's management, projects and operations. In April 2002, the Company successfully completed a private placing of 1,845,200 Ordinary Shares at a price of 11p per share, raising an additional GBP202,972 for the Company's exploration activities. The Company is pleased that JPMF Natural Resources Fund subscribed for an additional 1,000,000 shares, bringing the Fund's holding to 8.69% of the issued capital. JOHN PARK CHAIRMAN |
Posted at 22/4/2002 18:51 by hyper al Backwardation What's all this "Professional Investors" stuff? |
Posted at 22/4/2002 18:39 by backwardation Professional Investors would have to say that TWI {plus Gold Fields} does look rather attractive !However, the 11p offer is more debatable ! It's just NOT that generous taking into account current market conditions, is it ? |
Posted at 12/4/2002 09:40 by backwardation Professional Investors would have to totally agree with the Investors Chronicle {I.C.}...."Proving aresource and selling it to majors is smart business for small mining companies. CMR came close when it signed up Newmont to help it develop LP. After newmont pulled out and 'reading between the lines' IC feels that Newmont pulled out due to acquistion of Normandy. IC says CMR still has a 'substantial resource' the value of which is being verified by an independent consultancy firm FRK. At current estimates the 1m ounces equate to $300m worth of gold. although the cost of extracting it has yet to be established. Cambridge has opened talks with other companies but if not forthcoming will gear up and go it alone. Currently has £620,000 in the bank, enogh for another year by which time a bankable feasibility study should be in place. Those who bought on tip of 29p should hold tight." .................... |
Posted at 06/2/2002 01:21 by mr ashley james CTB,I know you are a good friend of John Park's but after CMR/HEV this is highly unlikely to get touched by investors. Shame, but true, IMHO UK Mining investors are no longer interested in Jam tomorrow, least of all on Tanzania, or indeed even any Black African Mining Plays after Anglo American pulling out of Zambia losing US$350m to get the hell out, or in the lead up to anarchic Zimbabwe elections. Africa, JP's home mining territory is in a seriously long term down trend, many trying to get cash, and physically out of SA, but the party I think is over. Good luck, but I think you like people too much, and ignore the Macro changes in the world too often. Good luck with TWI dumped all shares six months ago Best regards Ashley |
Posted at 05/2/2002 23:09 by citytraderboy Yes, see above !Corporate update The Board has agreed in principle to move Twigg's share listing onto AIM, the Alternative Investment Market of the London Stock Exchange, to take advantage of AIM's generally larger investor base, greater liquidities and better access to institutional investors. There has been a good level of interest from institutional and other investors ahead of this proposed move. The move to AIM is expected to take place during the coming months. The current depressed market for exploration companies, though it makes financing of exploration difficult, does provide many opportunities for active companies like Twigg to acquire good new projects, either by merger or acquisition, or through creative alliances with other exploration companies. Twigg's board is currently investigating a number of possibilities and we hope to make progress in this respect before the move to AIM. |
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