Thalassa Share Discussion Threads

[frazboy] 25/10/2017 08:02

... and there has been nothing in any of the communications from the company to imply that a capital return is on the cards (I'm not saying it won't happen, predictability is not a quality that Duncan possesses)

[cockerhoop] 25/10/2017 07:54

......and the discount would be far narrower if a return of capital was on the cards. DS will be aware or at least formulating his plans for the sale proceeds whilst investors have no idea.

[frazboy] 24/10/2017 22:21

his logic is, that most investment funds trade at a discount to NAV. Thalassa is such a fund but with a maverick at the helm. what discount to NAV do you think Thalassa should trade at?

[camerongd53] 24/10/2017 20:13

I don't fully follow your logic.
All the investments they have made recently have been of a short term nature - the asian mine has already been cashed in and the property company was in wind down mode. The buy back of its own shares at a discount to nbv transfers wealth from weak sellers to those left holding the shares at the end.
I see a very reason not to sell the shares at the moment

[cockerhoop] 24/10/2017 17:02

I imagine management also have vital valuation information beyond the sale namely what will the proceeds of the sale be used for.
I'd suggest the current discount for a takeover with subsequent return of capital would be substantially lower than the prospect of investing the money in a remote gold mine as a purely hypothetical example!

[camerongd53] 24/10/2017 16:04

I think it is obvious that management know more about the offer than the market knows. Did they not reject an approach earlier (possibly from another company) because it was too low. The current due diligence must imply it is an adequate price, but we are not being told what it is.

I suspect that the suspension of the share buyback was due to a possible hickup in the deal. I therefore suspect a deal is now back on with the resumption of the buybacks.

I presume the company is not being altruistic in buying back shares at the current price, but is doing it because the major shareholder benefits from weak shareholders selling out at the current low price, before it rises when the deal is confirmed

Just being a skeptic and possibly realistic!! Will be holding on to my shares at current price even although am sitting on a big loss

[stemis] 24/10/2017 14:32

Unless management have information about the sale which is not in the market (i.e. a change to the price/terms or a withdrawal of the buyer) then they know as much as us about the impact the sale will have on the price. As I posted in 4072 net asset value per share will be something between 112-178p a share. So any purchase of shares at the current level will increase NAV/share, which is presumably why they are doing it...

[camerongd53] 20/10/2017 18:46

Even less of a idea what is going on here!!!
Suspension of buyback is lifted and price rises back to 90p.
Was someone using the drop in price for a month to buy shares on the cheap.
Have no idea what the proposed deal to sell off parts of the company will have on the share price but management must surely have an idea. As they are not communicating we must surely be operating in a false market. There must be a reasonable case for a suspension of the shares pending a meaningful announcement. All will become clear in a month or so when details are announced and will hopefully be for the better.
The price that the company buys back shares if any will give us an indication of what the effect on the share price will be

[mr macgregor] 22/9/2017 17:18

Duncan disorderly.

[camerongd53] 22/9/2017 15:48

Cannot understand what is going on

The company bought its own shares last week @ 90 pence

Today it says it has stopped the buyback and the price drops to 86, so Thalassa could buy more shares for less than 90p

Only thing that appears to have happened is that due diligence has commenced - why should that make a difference??? The only thing is that DD has thrown up something that could affect the price offered which I don't think has been disclosed.

Any body got any thoughts?

[stemis] 20/9/2017 08:42

Well WYG hasn't been sold yet, there's still due diligence to complete. I'm also not sure what assets in the THAL balance sheet go with WYG and what stay. Depends also how much value you place on the performance payment and on ARL.

So currently I'd say base NAV of 112p (no performance payment, £1m costs and ARL at 0) to a potential 178p (full performance payment and stake in ARL worth £8m).

[gfrae] 20/9/2017 08:32

I cant find anything on the warrants either.

[gfrae] 20/9/2017 08:29

I was seconding Varies congratulations on the Papua sale.

[gfrae] 20/9/2017 07:48

Seconded.
Does anyone know of a reasonable NAV estimate ? We know WYG sold for $20m pius $10m performance payment. LSR stake worth about £7m. Plus how much cash?
Less perhaps some redundancy payments and costs,maybe some tax ...is the new owner of WYG taking on the staff and using the same premises ?
I assume the resulting cash to be somewhere between £20m and £35m or about £1 to £1.75.
Does anyone have a better calclution,do we know what the broker is estimating ?
The next question ,of course,is what is DS going to do with the Money ?

[cockerhoop] 20/9/2017 07:40

Offset by the exercise of 500,000 warrants which I'm struggling to find record of them being issued?
WH Ireland not helping me understand by not returning my calls!

Anyone able to help.....Stemis?

[varies] 19/9/2017 10:51

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 07:59

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

[jmf69] 18/9/2017 21:27

LOAM added another 500k shares??

[mr macgregor] 18/9/2017 15:36

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

[kooba] 18/9/2017 14:57

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 14:06

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

[kooba] 18/9/2017 11:55

Out with a small turn.Back to cash

[tanneg] 18/9/2017 11:20

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 07:22

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