Thalassa Share Discussion Threads

[cockerhoop] 12/4/2017 14:09

Gfrae,

What it says is available for sale investments including Papua cost $1.3m and then have been written down by $400,000 to get the $860,000.

The RNS last year said they paid £400,000 for 40m shares (for 26.7%) of company which equates to $520,000 at October exchange rates. I'm not aware of further investment but prepared to be corrected.

[frazboy] 12/4/2017 13:59

it's in the previous (2016) half year report as an after end of half year event. it's just down as £400k. thanks anyway.

[gfrae] 12/4/2017 13:56

frazboy,you can see the annual report on their website the Papua cost was $1.3m from memory.

[frazboy] 12/4/2017 13:40

I've not seen the AR, just the RNS. Am I missing something? I'm a bit clearer on the accounts now, I'm thinking that the $0.85m relates to Papua but I'm waiting for gfrae to revert on that. If you allow $1.1m for investment in R&D at the robotics arm, then there's still a million or so of missing "Investments" to explain.

[jmf69] 12/4/2017 13:08

Agreed 100k buy looks like the buyback

[kooba] 12/4/2017 13:03

100k @ 61.5p ...I read as share buyback probably mopped up most loose stock...see if they get more aggressive.

[cockerhoop] 12/4/2017 12:58

Just read the AR, bit naughty imo not to write down the value of LSR due to the adverse exchange rates and the share price of 28p at YE compared to the 34p paid. But does explain some of the holes when just reading the RNS.

[rcturner2] 12/4/2017 12:53

I think THAL is a bit of a marmite share for many.

I sold out my remaining shares today.

[kooba] 12/4/2017 12:49

Thalassa HoldingsThe trouble with writing long and ethereal statements, especially when the bumf at the top is all about world economies is that sometimes people dont get down to the good bits about your company. When I saw the THAL price first thing I feared the worst, indeed I was about to fling myself overboard until I progressed past the economics lesson. If you do that you get to see that the Chairman has 'cautious but unpredictable optimism' and that 'in 2016 we exceeded performance expectations at every level from sales to the bottom line'. Other positive comments include that the company has the same, asset light, model and its flexible management structure gives remarkable competitive advantages over the competition. So, the shares should be up, not down as the operating side of the company has performed very creditably and continues to do so.....Top stuff Duncan...http://www.malcysblog.com/

[cockerhoop] 12/4/2017 12:41

Gfrae,

Do you have a reference for the $1.3m spent on Papua? I can only see the £400,000 equating to $0.52m. Cheers

[frazboy] 12/4/2017 11:52

...because he paid more than £5.65m - that was what he paid for 16.6m of the 19m that THAL purchased. Using an exchange rate of 1.33 and 0.34p share you get the $8.6m

Thanks again

[frazboy] 12/4/2017 11:42

Thanks gfrae - I just did a quick and dirty run through this morning, so it may be that at some point the TDT will pay back the loan (when the shares are issued and paid for I presume). On the other point, I'm a bit lost. THAL has 23.2% of LSR which was purchased for around £5.65m in September 2016. So, how did it end up costing $8.6m? The exchange rate at the time was around $1.33/£.

[gfrae] 12/4/2017 11:24

Frazboy, the $8.6m was for the investment was for LSR on it's own. A further $1.3m was invested Papua. also concerning your point previously about the loan to the discretionary trust,that loan has been written down to the value of the shares when they were 33p. See notes 7,14 and 22 of the accounts for the above. G.

[bookbroker] 12/4/2017 10:52

But it is most likely the continuing investment in ARL that accounts for the discrepancy in Frazboy's view, I would expect it to be sucking up capital, so they need to find partners to progress, and hive it off, but essentially Thal is a holding company,, still unless they can create real value I'm not sure of the case for holding on!

[cockerhoop] 12/4/2017 10:45

They usually post them up on the website pretty quickly so shouldn't have too long to wait.

[bookbroker] 12/4/2017 10:44

There is no excuse for holes in the accounts, DS needs to explain a little clearer, but he seems in his own little world!

[cockerhoop] 12/4/2017 10:43

Cheers, I think we're in agreement regarding unexplained holes investment wise. Hoping the Annual report will shed light.

[mikeroot5] 12/4/2017 10:02

Thal update covered in the penny stock post this mornign, I would have liked to see stronger numbers here to be honest.
hxxp://buff.ly/2os1AOC

[bookbroker] 12/4/2017 09:53

WGP is a good asset, and the nodes business offers a lot of potential, best to stay with the oil business, I said GTC would have been a good fit, could have bought if for cash last year, even if the industry is weak at the moment it will recover!

[kooba] 12/4/2017 09:44

Just ask Leo Sayer ! Well I'm a one man band Nobody knows nor understands Is there anybody out there want to lend me a hand With my one man band

[cockerhoop] 12/4/2017 09:41

Frazboy,

Agree lots of questions regarding the balance sheet:

I'm now unsure that the missing $7.5m was spent on PPE - as you say it's only increased PPE by $3m in assets.

I estimate at prevailing exchange rates $7.5m was spent on LSR and $0.52m on Papua Mining. At year end these should have been worth approx $6.1m marked to market. That suggests $2.5m ($8.6m-$6.1m)invested in associated entities that we're currently unaware of.

In addition we have $0.826m in 'available for sale' investments, again I'm unsure what that is?

It will require the AR to have a chance to get to the bottom of it.

[bookbroker] 12/4/2017 09:39

That is why DS should have taken the company private, the business with the discretionary trust, his objectives are difficult to fathom, look at his track record, he is an opportunist at heart, that is why this will likely be rated accordingly, the market simply does not reflect value to one-man bands, they play too many tunes!