The Mission Share Discussion Threads

[dogberry202000] 01/11/2007 07:54

TMG has signed a binding agreement with Pamodzi.

[giant steps] 30/10/2007 08:57

katsy-> mc/casten took the huge risk, seems reasonable they are rewarded

Time is nearing for a new thread !

[bbbb] 30/10/2007 08:53

katsy: but, look on the bright side - mc/c should be okay!

[katsy] 30/10/2007 08:32

Just when CGA shares shoot up again we get rid of them. Shame maybe if TMG waited another 2-3 months then maybe most if not all the debt could have been wiped out with the CGA shares alone. never mind once TMG give away PSGM as well then we'll left with some debt and a few shares of some downward trending company.

[giant steps] 30/10/2007 07:55

Ceasing to be a substantial holder - 30th October 2007

[goggin] 30/10/2007 07:08

D. Day????????????????????????????????????????????????????

Accordingly, MC Resources and Casten have acknowledged payment, reduction of and
set-off against the MC Resources and Casten Indebtedness of an aggregate amount
equal to U.S.$42,301,781. The remaining outstanding indebtedness is estimated at
approximately U.S.$20.8 million of which U.S.$1.4 million is principal debt
outstanding and U.S.$19.4 million relates to outstanding interest as at 1
October 2007, taxes and fees. The transfer is expected to be completed by
October 30, 2007 in accordance with the obligations set forth in the Consent
Agreement.

[bbbb] 25/10/2007 21:10

they have to do a bee anyway, so pamodzi can leverage that,
and play hard to get.

[giant steps] 25/10/2007 20:00

st, when cga transfer completes thistle will not look like a distressed
seller, should be a stronger position to negotiate pamodzi deal.

[giant steps] 25/10/2007 19:56

2nd August 2007

"
South Africa's Competition Tribunal, the country's highest antitrust
authority, has unconditionally approved Pamodzi Gold's acquisition of
Harmony Gold's Orkney shafts
"

[simontemplar] 25/10/2007 19:55

Ah yes, very good.

[simontemplar] 25/10/2007 19:48

I confess I don't know what 'Orkney synergy' is? and neither does Mr google but you're right, that's why it's unlikely!

[bbbb] 25/10/2007 19:15

st: but what if the agm gives the ok rubber stamp to pamodzi?
are they going to fork out for another egm to look at another
offer? - although they might pick up the exclusivity fee in
lieu of sale to pmz.

another offer (unless it swallows pmz as well) will miss out
on the orkney synergy.

[simontemplar] 25/10/2007 17:19

Pamodzi is in a clear down-trend so any interest will likely depreciate long before we see any increase in value. Annoying that the alterred deal with Pamodzi took away, very neatly, the opportunity to rid TMG of it's debt! Hopefully, but unlikey, following November 1 another interested party will see value in TMG's reserves and up the offer!

[bbbb] 25/10/2007 13:43

and we still don't know the RATE of interest to be paid by pamodzi, whether
that will be in money useable for tmg's own debt or rolled up paper within
the spv to buy more pamodzi at a price yet to be disclosed!

with the zar 150m in the spv to be used to buy pamodzi (rather than the needed
USD CASH to pay off tmg debt), the deal is a bit like selling a house for 40% cash, with the balance to be used in a year to buy back a share of the house

...but without knowing in advance how much of a share of the house!!

[giant steps] 25/10/2007 13:20

now we have $37.8K instead of $378, no wonder bbbb figures are untrustworthy

[giant steps] 25/10/2007 13:17

Katsy ->

the income stream will be dependent on the ZAR 150 million
interest bearing debt security, as part of the Pamodzi deal

[bbbb] 25/10/2007 12:58

...and the cashflow?

[bbbb] 25/10/2007 12:28

$37.8k the dfference compounds further over a period of seveal years, like tmg.
it's the 12% (or 15.4% earlier) that is significant

now answer the questions about cashflow.

[giant steps] 25/10/2007 11:43

what difference does the quarterly compounded interest have over 1 year
when compared to annual interest charge? (should be easy)

Answer : Less than $40K

[bbbb] 25/10/2007 11:40

and will that income stream be in cash as due, rolled up, or convertible paper?

[katsy] 25/10/2007 11:34

GS what income stream will TMG have to meet the interest on $7m little alone pay off that debt!

[giant steps] 25/10/2007 11:27

more misleading bbbb figures,

shall we try some quarterly compounded interest calculations on $7m,

what difference does the quarterly compounded interest have over 1 year
when compared to annual interest charge? (should be easy)