Thalassa Share Discussion Threads

[varies] 19/9/2017 11:51

Well done, Mr.Soukup.
A profit of £60K on a £400k investment is of little consequence to THAL but is evidence of his sound judgment as an investor and encourages me to think that the bigger investment LSR will provide a good return in the near future too.
I rather hope, all the same, that Mr. S. will not be investing THAL's money in any more bucket & spade operations, having lost a fair amount of money in these myself.

[gfrae] 19/9/2017 08:59

Looks like they exercised the warrants. Anyone know the terms of the warrants ?

[jmf69] 18/9/2017 22:27

LOAM added another 500k shares??

[mr macgregor] 18/9/2017 16:36

Getting out with a profit was more luck than judgement imo.

[kooba] 18/9/2017 15:57

I would guess there was an alternative plan when Thalassa refinanced the company ...it is now going in another direction and cost of their support is getting them out with a profit.Imho

[mr macgregor] 18/9/2017 15:06

Absolutely bizarre really. The corporate equivalent of day trading mickey mouse mining shares.

[kooba] 18/9/2017 12:55

Out with a small turn.Back to cash

[tanneg] 18/9/2017 12:20

A welcome sale :-

"Conditional placing to raise £1.85 million at 1.15p per share which includes the proceeds of the disposal of 40,000,000 Ordinary Shares by Thalassa Holdings Limited. The balance of £1,390,000 (before expenses) to be applied to working capital for Papua and its diversified portfolio;

Thalassa Holdings Limited ("Thalassa"), which currently owns 40,000,000 Ordinary Shares in Papua, representing 26.32 per cent of the existing share capital of the Company, informed the Company that it would like to divest its holding in Papua as part of any significant issue of new ordinary shares. Therefore, as part of the placing of the New Placing Shares and pursuant to the Placing Agreement, all shares currently held by Thalassa (the "Thalassa Placing Shares") have been conditionally placed with placees (collectively the "Placing"). In addition, First Equity and Thalassa have entered into a selling shareholder agreement in order to facilitate the Placing of the Thalassa Placing Shares."

[gfrae] 14/9/2017 08:22

Where do the warrants come from ,anyone know ? Are there any more ? G.

[jmf69] 14/9/2017 08:04

They've been upping their stake in LSR. Over 25% now

[jmf69] 05/9/2017 14:47

LOAM now have 13.1 %

[jmf69] 25/8/2017 07:27

Picked up the buyback pace with 375k yesterday

[jmf69] 22/8/2017 07:31

Cleared with the clients and the potential purchaser named

[jmf69] 17/8/2017 07:32

Another 187500 bought back. The board must still see value at this price

[deej4y] 16/8/2017 10:44

Basically creates a floor on the price for now

[jmf69] 16/8/2017 07:28

And the buyback restarts with 200k

[jmf69] 15/8/2017 18:58

LOAM increased to 11.30 %

[deej4y] 15/8/2017 11:53

There's also 3.5m shares in treasury, which DS has previously used to raise funds.

I think average purchase price is £0.45

[cockerhoop] 15/8/2017 11:51

A sizeable return to shareholders after receipt of the initial 20m USD would lead to further upside imo.

[cockerhoop] 15/8/2017 11:48

Stemis,I think you can make the case that ARL could be valued at greater than 10m USD as the investee company is also bringing considerable relevant expertise along with 2m USD.As for the general valuation there is clearly a DS discount being applied.

[frazboy] 15/8/2017 11:43

SteMiS - I think the issue is that you can't value the assets at 100p in the £ as DS has not said what he would do with the proceeds if the sale went through. Not many investment holding companies trade at a premium to asset value.

[stemis] 15/8/2017 11:32

Crazy valuation - Thalassa market cap at 84p is $23.6m

For which you get

$20.0m sales proceeds of WGP, less say $1m for fees
$2.0m investment in ARL
$3.0m (at least) existing cash, assuming WGP sold cash free
$8.1m stake in LSR

$10.0m earn out on WGP
$8.0m value of ARL (valued on $2m investment for 20%)
Something for Papua

So from $32.0m (discounting all earn out, ARL and Papua) to potentially $50m

[janeann] 15/8/2017 09:45

I hope not PJ. acso perhaps. Im surprised the reaction hasn't been stronger this morning;