The Mission Share Discussion Threads

[katsy] 24/9/2007 11:55

realising 25% of any company will be rather difficult at market prices. Today's RNS is very very vague. No explanation as to what has changed since the interim were given.

[ad1967mc] 24/9/2007 11:54

I'm sure that MC/Casten would rather avoid foreclosure and all the costs it would entail. Otherwise it probably would have already happened. The obvious thing for them to do would be to liquidate all current assets, repay debt and use TMG as a listed cash shell to reverse into some better quality projects. At least that is what I would do in their shoes.

[simontemplar] 24/9/2007 11:45

Maybe, but since CGA are unwilling, at present, to allow the transfer of the CGA shares to MC/Casten a foreclosure would exclude the value of those shares until the date when the transfer is permissable, at which time the value could be considerably greater than what it is today.

ad1967mc - 24 Sep'07 - 11:35 - 716 of 716


MC/Casten can foreclose on TMG whenever they like, so I doubt anything is slipping from their vice like grip.

[ad1967mc] 24/9/2007 11:35

MC/Casten can foreclose on TMG whenever they like, so I doubt anything is slipping from their vice like grip.

The improvement in CGA share price is great news for holders, as long as the transfer deal with MC/Casten is now void.

As to the higher gold price, it may help. But the real problem is the collapse in production, which is escalating costs. The lack of capital spending and mine development is causing minor problems to spiral out of control. PSGM desperately needs a substantial capital injection.

AIMO

[simontemplar] 24/9/2007 11:19

At current Gold/Rand prices TMG don't need MC/Casten to bank-roll it! However, ironically that could lead to a clash of interests especially when it comes to who has the right to a rapidly appreciating CGA! The timing of the rising POG serves the interest of TMG but perhaps not those of its majority shareholders who might view current events as a bonanza payout slipping from its vise-like grip.

[katsy] 24/9/2007 10:23

So have MC/Caster stopped bank-rolling this? Have Pamodzi pulled out of this non binding offer. Have they discvered a solid wall of gold in one of those shafts containing 2 million ozs that can be all mined within a few days.



OK that last part is only a fantasy but if we all prey hard and long enough then you never know!

[bbbb] 24/9/2007 09:43

looks like there's incentive for things to be worse than they might be.

gs: a surprise like that and a new golden quadrangle discovery could
set off a rocket making 9p offer a steal. (wakes up from dream)

[katsy] 24/9/2007 08:59

With zaris/gold the highest it's been for ages this appears to still be a dog.

Doubt suspension would've happened in financial position had improved.

[giant steps] 24/9/2007 08:55

what do you think bbbb, thistle are pleased to announce that 2H will be
significantly stronger than market expectations, LOL !

[bbbb] 24/9/2007 08:53

pending clarification of financial position.

[goggin] 24/9/2007 08:30

If gold continues to rise, you would think this would be worth rescuing. Not looking good for us poor suckers, But one can only look on the bright side - at least we have a constant price stuck at 5 -9 p

[giant steps] 24/9/2007 08:06

TMG share price temporarily suspended (5-9p)

Have to laugh, CGA Mining A$0.975-100

CGA Value for Thistle = 40.985m * A$0.975 * 0.865 = $34.56m

little bit different from interim accounts:
Investment subject to significant influence (note 4) 20,641

[bbbb] 23/9/2007 11:21

...assuming costs do not rise, like higher wages etc.

[giant steps] 23/9/2007 10:32

Non binding agreement.

Have no problem if TMG hedge some of PSGM production when POG is $1000/oz

Extra cash in ONE YEAR from $300/oz rise equates to PGSM sale price !

[tim00] 21/9/2007 18:43

Katsy, imo PSGM is sold for ZAR 300 mn, period. There won't be a new buyer and TMG is a forced seller as MC/Casten won't fund the substantial investment needed to improve output. So a strengthening rand is definitely to our advantage.

[giant steps] 21/9/2007 16:36

rainydays, care, your bullish speculation will only fuel choice words from the maestro

[giant steps] 21/9/2007 16:35

Looks like 6p sellers met by 7p and 8p buyers.

Closing prices bid 5p offer 9p, volume 235K / 4 trades

[katsy] 21/9/2007 16:29

75K@7p
100k@6p

[katsy] 21/9/2007 15:07

ZARUS below 7 now.

Good if they sell for said amount
bad for current production and if they keep the mine.

On the otherhand though POG keeps rising :-)

[giant steps] 21/9/2007 13:55

yes db, just spotted 25K and 35K both 8p

[dogberry202000] 21/9/2007 13:53

Two chunky buys today! Someone has confidence in TMG.

[bbbb] 21/9/2007 09:44

thanks katsy, you are right!

[giant steps] 21/9/2007 09:44

bbbb makes no apology for inaccurate computation,

excluding interest bbbb computed credit facility 6 x $2m for the period June-Dec = $12m

reality was $2m for 3 months


Recall some other historical bbbb howlers (bbbb - 24 Feb'07 - 14:24 - 1797 of 2423)
"
75k out of approx 42m shares currently outstanding is about 1.8%, well below
the disclosable level.

I thought the dilution was 200, not 20.

but with numbers like these, does a factor of ten matter anyway?
"