The Mission Share Discussion Threads

[giant steps] 17/10/2007 08:13

tim -> what do you think ? for a company that has no money we can find it
for CGA investment! Expecting thistle to restructure debt in coming months.

[giant steps] 17/10/2007 07:31

well spotted tim, as ever a very informative post - thanks


Page 1, Note 6

interesting times ahead

'
There is one "insider" who will be participating in the issue of New Shares,
Toowong Mining B.V. Toowong Mining B.V. currently holds 40,985,538 (25.4%) of
the ordinary shares in the Company. Toowong Mining B.V. will subscribe for
10,700,000 of the New Shares and after the issue of the New Shares will hold
51,685,538 (24.64%) of the then outstanding ordinary shares of the Company.
'


A Special Meeting of the Company will be held at the Ground Level,
BGC Centre, 28 The Esplanade, Perth, Western Australia, on
15 November 2007 at 10.00am (WST).

[tim00] 17/10/2007 06:16

very interesting news from Australia, TMG's subsidiary holding CGA shares is participating in a share placing. Another 10.7 mn shares being acquired in CGA.

[katsy] 16/10/2007 08:11

POG surging ahead again, does that mean another rockfall/explosion/seismic shift/flooding/fire/power outage at the mine again!

[giant steps] 15/10/2007 08:14

tim -> take comfort that any smart investor should
have mostly avoided the summer 2005 share restructure

[bbbb] 14/10/2007 20:50

including the stockpiled ore from the electricty substation explosion until
repair restores full power to the gold plant and shaft hoisting that could
be a breeze....unless anything happens in the meantime to prevent it.

with ZAR 3.5m in respect of the 'exclusivity' of the non-binding 'notice of intent' of a deal INCLUDED in the total price of zar 250m (NOT $35.7m as most of the proceeds would be in the form of an spv in the future denominated in zar)the exclusivity expires at end november.

so there's plenty of scope for the notice of intent of a deal never to become a
deal and even for a new buyer to show after 1 december or new lower price to
become a new notice of intent.

on account of the number of words here and the fact that a 'notice of intent' is not the same as a conditional contract, this post will only be of interest to
those who understand the actual issues and have read in full the primary
documentation.

[tim00] 14/10/2007 17:37

In case anyone doesn't know, the requirement to produce 340kg in each of Oct and Nov is equivalent to 12000 ounces pm. Without disruptions, that certainly looks attainable, but is not a 'shoe-in' either.

[giant steps] 14/10/2007 17:13

Reminder of Events from 20th September 2007 Actual 20 SEP 2007 Thistle inform Pamodzi of PSGM production problems 24 SEP 2007 Shares suspended 5-9p 28 SEP 2007 MC/Casten advance $1.2m to PSGM 01 OCT 2007 Thistle receive revised offer from Pamodzi $35.7m for PSGM 01 OCT 2007 SEDAR : Record date 19OCT07, AGM/Special Meeting 20NOV07 02 OCT 2007 Thistle board of directors accept revised offer from Pamodzi 02 OCT 2007 SEDAR : Record date 22OCT07, AGM/Special Meeting 22NOV07 (amended) 05 OCT 2007 Thistle announce acceptance of revised non-binding Pamodzi offer Forecast 22 NOV 2007 Thistle shareholders Meeting December'07 Pamodzi operational control of PSGM

[bbbb] 14/10/2007 08:09

the attention span of those who have difficulty concentrating on a tabloid
paragraph seems to have been spared by shrinking the above posting to a link
and quoting a bit which the health and safety people will no doubt be scrutinising
closely.

[giant steps] 12/10/2007 20:56

Mon, 08 Oct 2007





Extracts from CEO Peter Steenkamp

"We want President Steyn to continue as a going concern and that 340kg will at least cover their operational costs," Steenkamp told Miningmx.

"President Steyn has been under a lot of pressure lately and we want to make sure they get to that 340kg but it shouldn't be a problem for them. It's not a strenuous target," he said.

"There is huge potential there to improve production. There's a lot of optionality on the B Reef in the north, which is what they mine at Harmony's Tshepong and Masimong," Steenkamp said. "There's also an opportunity with blocks of ground that without too much capital we can get into."

"There's quite a lot of gold locked up in those shaft pillars and if we are clever about it, we can mine those pillars," he said.

[bbbb] 12/10/2007 08:33

if it still has a roof!

there's a story on the news today about above ground 'mining' in the west midlsnds of metal ore of such a high grade that almost no refining is needed. seems to
be 'work' for the informal sector which sees no need for education of the young in
roofed establishments, doing their bit for the spread of ignorance.

[katsy] 12/10/2007 08:19

I need to go back to school!

[giant steps] 12/10/2007 08:16

tim -> i suspect bbbb had close historical ties with thistle, and now writing on
this thread is a risky pursuit (mine manager ?)

[bbbb] 12/10/2007 07:13

'Writing some mumbo jumbo about mine plans, prolonging resource extraction etc etc completely misses the bullseye, in fact it's nowhere near the target.'

competent decorators understand the concept of 'painting into a corner' which is a limitation on the way in which they can work.

inclusiveness has disadvantages on threads such as this.

[tim00] 12/10/2007 06:16

cga unchanged today. Fair enough after a strong run.

[tim00] 11/10/2007 22:16

looking forward to posting another nice rise in cga tomorrow morning!

[tim00] 11/10/2007 22:15

the point bbbb is that there is a well understood relationship between price and marginal cost which drives production in all markets of capitalist economies, not just commodity markets like gold. That is not simplistic, it is fact. Writing some mumbo jumbo about mine plans, prolonging resource extraction etc etc completely misses the bullseye, in fact it's nowhere near the target. I suspect you were not a lawyer but an english professor or some such in a past life.

[bbbb] 11/10/2007 21:14

'that means no one understands a word you say!'

Lawyers are not the only people to understand language fully,
and some of them might not like the idea of being thought to be 'no-one!'

[giant steps] 11/10/2007 21:05

tim ->

i suspect the legalistic comments by bbbb have not been helpful to most readers

shame, as he clearly has useful knowledge and experience to share with juniors !

[tim00] 11/10/2007 21:00

bbbb, you're the most enigmatic poster I've ever come across. Deconstructed, phrase by phrase, like the lawyers, that means no one understands a word you say!

[bbbb] 11/10/2007 20:54

deconstruct it phrase by phrase, like the lawyers.

= take the sentences to pieces, say three words or so at a time.
use a dictionary.

some ideas need to be expressed conditionally to avoid
risk of misrepresentation. or possible libel.

[tim00] 11/10/2007 19:43

....and in english?