The Mission Share Discussion Threads

[katsy] 20/3/2008 09:03

I assume if we don't get news today from TMG then the next news we'll hear is from the LSE on Tuesday telling us that TMG will be removed from the AIM. After that TMG cannot release an RNS, and will have absoluted no obligation to inform us that we've lost all our money. In any case how will they inform us of anything, especially those who don't have the share cert!

[katsy] 18/3/2008 14:52

lol. good one.

[katsy] 18/3/2008 14:39

Tick - tock - Tick -tock.

[giant steps] 16/3/2008 19:42

yes db, tax losses should be a huge incentive for reversals into TMG

[dogberry202000] 16/3/2008 17:53

Yes, an interesting week coming up. Let's hope that the Russian connection is meaningful. I wondered why when this fellow joined the board.

TMG's tax losses should be an attraction for the company's new life as an investment company. Turbulent times has resulted in an investing climate where resources whether they be gold, oil, etc. are surely the areas to be invested in. I'm looking for the DOW:GOLD ratio to 1 over the next few years. With oil at $110 and possibly going to $125 and perhaps even $160 in the next year or so. There are "interesting times" ahead.

Investors in this company are due some good fortune. With such a low level of expectations we could be pleasantly surprised?

[giant steps] 16/3/2008 16:33

Interesting week beckons:
- will thistle relist ? will debt be restructured and written off ?

Worth remembering our director Sergey Alekseev is
also a director of Siberian Services Company.




The former Yukos oilfield service subsidiary, the now-independent Siberian Services Company, launched in February a roadshow to promote a $200m bond to fund new projects in Siberia and Uzbekistan.

[giant steps] 13/3/2008 11:35

ST, i understand perfectly thank you. Suspension was 24/9/07, six months deadline according to AIM rules, so news expected before Easter (assuming we are to resume trading !)

[simontemplar] 13/3/2008 11:20

GS. I don't think you understand. If it hasn't resumed trading by the end of March that's it. It delists. Unless you're suggesting that it will delist and then relist at some future point in time?

[giant steps] 11/3/2008 11:22

One step at a time Katsy, news expected before Easter (given suspension 24/9/07)

[katsy] 11/3/2008 10:25

What happens to your shares in a nominee holding if a company delist? How can you trade them?

Also does the company have to keep you informed. They won't have the RNS route and any info sent to shareholders by post is usually not forwarded by your broker holding the shares.

[giant steps] 09/3/2008 14:02

ST, i imagine they can't resume trading until we see some financial results
and from a going concern we need to be sure 'the cash element from shares'
is placed in June'08 (as proposed) to reduce debt.

Interesting times ahead.

[simontemplar] 09/3/2008 13:09

All well and good but they're pushing this resuming of trading a bit fine if you ask me. I hope it's not going to be a case of a quiet death with just an AIM announcemwnt telling of the delisting without so much as the decency of the company to announce it themselves. I hope I'm wrong but and I'll retract all my words if I am but I'm beginning to doubt if this will come back.

[giant steps] 08/3/2008 19:18

7 Mar 08


Extracts :

As a producer of 420 000 oz a year, Pamodzi is the world's 13th largest gold mine.

"What is pleasing is that we have reached the point at which we have actually turned our operating expenses around," says Steenkamp

On the investment front, the company is intent increasing its free float in order to attract major institutions and retail in North America.

After the 11% Thistle share placement in June, restructuring will take place to reach the target of a 50% free float.

[giant steps] 07/3/2008 09:19

Reminder from November 2007 :


Proposed Investment Strategy

At the Meeting, Shareholders will also be asked, if the Sale Resolution is
approved, to consider and approve Thistle's investment strategy as set out in
the Circular to be implemented post completion of the Sale Transaction.

As the Sale Transaction will divest Thistle of all or substantially all of its
active business activities, under the AIM Rules, Thistle will, upon completion
of the Sale Transaction, be treated as an 'investing company'. The Thistle
Board has resolved that, of the options available to Thistle moving forward,
Thistle should not be delisted from AIM, wound down or become a passive investor
and instead should be used to develop business opportunities that may be
available to it, including any that are introduced to it by its two major
shareholders, Casten Holdings Limited and MC Resources Limited.

It is proposed that the primary business sectors for Thistle's investments will
be oil and gas, mining, real estate, telecoms and/or finance. Thistle intends
to focus on investments in public and/or private companies mainly in the
emerging markets of the CIS, Eastern Europe and Middle East, but will not limit
itself from developing other opportunities in Western Europe, the United States,
Canada or elsewhere. Thistle proposes to obtain a controlling interest in the
majority of its investments or certain control rights over key decisions taken
in relation to its investments.

The Thistle Board expects that expertise will be required to assist with the
evaluation of its proposed investments. It also expects that expertise will be
required in the area of general business in the emerging markets of the CIS,
Eastern Europe and the Middle East.

The Thistle Board proposes that due diligence of prospective investments be
performed by persons appointed by the Thistle Board with specific expertise
relating to the investment under review, as required. Consequently the Thistle
Board intends to appoint management in line with the business opportunities
identified. Following the completion of the Sale Transaction, it is the
intention of Thistle to focus on recruiting persons having skills aligned with
new opportunities and on reconstituting the Thistle Board in line with the
strategic aims referred to above and in order to conserve costs pending the
conclusion of any new investments to be made by it.

[katsy] 07/3/2008 08:41

Sent an email to TMG asking about the re-list deadline. Just got a standard reply saying they are still reviewing its options and an announcement will be made shortly.

[katsy] 03/3/2008 08:05

wow at present zarus gold over 7800. This time 18 months ago this would've gave us a wet dream. TMG has to re-list by the 20th March otherwise AIM listing will be cancelled.

[tim00] 02/3/2008 06:56

I don't follow TMG s carefully as I used to. There is a recent presentation on the Pamodzi website stating that Thistle's shareholding is expected to be sold by end-June, increasing the number of shares in free float (a management objective). GS, I know you have an eagle eye for these things, what's your understanding of Thistle's Pamodzi shares: are they a long-term investment? Incidentally, judging by your CMR posts, you may need to see an optician!

[tim00] 29/2/2008 06:38

Thanks for the new thread GS. What does everyone think will happen next? My guess is as follows. Obviously TMG can't invest funds it doesn't have, and ideally it should also clear its outstanding high interest debt with MC/Casten. How it raises significant new finance remains to be seen, but I anticipate this is now being managed by the Directors. Once an RNS is released with the results of the fund raising, the shares should start trading again. But until the fund raising is secured, the company's future remains in doubt so the shares are likely to remain suspended. On the plus side, I think MC/Casten will be quite satisfied with their investment in TMG, and I'm increasingly optimistic about Pamodzi. So I guess MC/Casten will continue to support our Board, ie by not calling in their debt prematurely. However, as before, a risk is that they claim our Pamodzi shares prematurely, before they reflect fair value.

[dogberry202000] 28/2/2008 20:23

Now that the P. Steyn deal is out of the way there's no drag on Pamodzi's share price. Gold's through $970 and on the way to $1000+!

BTW nice looking new thread, GS.

[giant steps] 28/2/2008 19:35

Pamodzi Gold Closing price Thu 28 Feb ZAR12.00 +0.50, volume 6K / 3 trades pog $969.75/oz : usdzar 7.55 : zarusgold 7,322