Tiger Royalties And Inve... Share Discussion Threads

[ntv] 18/11/2004 08:30

will also add recent purchase of shares in bullion res to header

[buffin] 18/11/2004 08:17

NTV, re your header -

It looks to me as if it comes from the company's web site, which should be fair enough except that they don't seem to have kept it up to date ... for instance TIR reported it had sold its Ivanhoe in its interims.

Do you think you could also shorten the header a bit? - it means an awful lot of scrolling down each time.

[buffin] 18/11/2004 08:10

Why repost a NAV calculation from back in March when we have this from the company?

The Board of Tiger announces that the Company will be releasing its unaudited
portfolio value per share (reflecting the value of the Company's investments and
cash only) on a quarterly basis commencing retrospectively from 30 September
2004.

The unaudited portfolio value (PV) per share (based on investments and cash
only) at 30 September 2004 was 2.99p per share. The current unaudited PV per
share (as at close of business on 29 October, 2004) is 3.43p per share.

All future reporting will be made on a quarterly basis and accordingly the next
announcement will disclose the portfolio value per share as at 31 December 2004.

[andonis] 18/11/2004 01:42

I am reposting an earlier post from lafiamma on the calculation of the NAV of TIR....


lafiamma - 3 Mar'04 - 19:42 - 28 of 117


I've just updated my calculations, to show that at 2.25p, TIR trades at a 46% discount to current NAV...

Current Value (at 03/03/04)

Debtors + Cash – Liabilities at y/e = £2,581,310 (1.1p /share)

£ 266,852 LSE:AFE (21.5p)
£ 109,748 TSX:AGI ($2.55) [103.25p]
£1,399,500 LSE:CBM (63.5p)
£ 83,500 LSE:CLU (83.5p)
£ 467,370 TSX:FCO ($0.57) [23.08p]
£ 58,333 OFEX:FRA (3.5p) [warrants valued at 0p]
£ 70,231 NYSE:GFI ($12.3) [668.87p]
£ 611,929 TSX: IVN ($7.75) [313.81p]
£1,062,839 LSE:MNT (4.95p)
£ 192,667 TSX: PFN ($0.84) [34.01p]
£ 250,000 OFEX: RID (3.5p)
£ 266,000 LSE: TYM (20p)
---------------
£4,838,969

Current exchange rates:

CAN $ = £0.40491
U S $ = £0.5438

(There are 234.6million shares in issue)

Cash = £2,581,310
Loan Notes = £90,000
Investments = £4,838,969

The total Net Asset Value of Tiger Resource Finance is £7,510,279 or 3.2p / share.

Contribution
to N.A.V. : Company Name : (Number of shares held)

0.1137p African Eagle (1,241,174 shares)
0.0468p Alamos Gold (106,293 shares)
0.5965p Cambrian Mining (1,350,000 shares + 1,200,000 warrants @20p + 150,000 @50p)
0.0356p Cluff Mining (100,000 shares)
0.1992p Formation Capital Corp (2,025,000 shares)
0.0249p Franconia Minerals Corp (1,666,667 shares + 833,334 warrants @$0.09)
0.0299p Gold Fields Ltd (10,500 shares)
0.2608p Ivanhoe Mines Ltd (195,000 shares)
0.4530p Minmet plc (21,471,488 shares)
0.0821p Pacific North West Capital Corp (566,500 shares)
0.1066p River Diamonds Ltd (3,333,333 shares + 6,666,666 warrants @1.5p)
0.1134p Tertiary Minerals plc (1,330,000 shares)
---------------
2.0625p /share

(Warrants calculated as mid price of share – exercise price of warrant)

In addition, TIR holds 2 Loan Notes:

£40,000 MIT Ventures Corp Loan Note
£50,000 River Diamonds Ltd Loan Note

It is fair to assume that interest earned on cash & loan notes covers tax on gains & admin costs.

Most investment trusts trade at a 10-25% discount to their Net Asset Value. Let's be fairly conservative and apply a 25% discount to Tiger's Investment Portfolio, making no discount for cash assets.

We get a discounted NAV of £6,300,537 [£7,510,279 – (£4,838,969 x 0.25)] and share price of 2.69p

At the current share price of 2.25p, TIR is valuing the investment portfolio at £2,607,190 (after stripping out cash) – a 46% discount to the listed mid-price valuation.

[andonis] 18/11/2004 00:59

Well, IF Bruce and TIR own 50% of AST, since yesterday they have added another £1.8million into TIR since yesterday.

TIR is a £4.7 Million company
Basically it means their value has gone up to £6.5Million in one day!

If one considers this increase in NAV of say £1.8 million
then the share price should increase by £1.5M/217M = 0.7p on NAV per share.

Basically it should ROCKET! Hold tight!

[agincourt] 17/11/2004 22:05

AIM
27 October 2004


ANNOUNCEMENT TO BE MADE BY AIM APPLICANT AT LEAST 10 BUSINESS DAYS PRIOR TO ADMISSION

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
Ascent Resources plc

COMPANY ADDRESS:
30 Farringdon Street
London

COMPANY POSTCODE:
EC4A 4HJ

COUNTRY OF INCORPORATION:
United Kingdom

COMPANY BUSINESS:
An international mining, minerals and oil and gas investment company.

DETAILS OF SECURITIES TO BE ADMITTED :
tba

CAPITAL TO BE RAISED ON ADMISSION:
tba

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
David Steinepreis (Non-executive Chairman)

Hugh Warner (Executive)

James Pratt (Executive)

Gary Steinepreis (Non-Executive)


PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
STATING WHETHER BEFORE OR AFTER ADMISSION:

Name Number of Percentage of
Ordinary Shares issued share capital prior
to Admission
David Steinepreis 5,000,000 10.0%
Hugh Warner 2,500,000 5.0%
Gary Steinepreis 4,500,000 9.0%
Ascent Capital 7,250,000 14.5%
Bruce Rowan 25,000,000 50.0%

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES:
N/A

ANTICIPATED ACCOUNTING REFERENCE DATE:
30 June

EXPECTED ADMISSION DATE:
Tba

NAME AND ADDRESS OF NOMINATED ADVISER:
Nabarro Wells & Co. Limited

Saddlers House
Gutter Lane
London EC2V 6HS

NAME AND ADDRESS OF BROKER:
Nabarro Wells & Co. Limited

Saddlers House
Gutter Lane
London EC2V 6HS

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Nabarro Wells & Co. Limited
Saddlers House
Gutter Lane
London EC2V 6HS

DATE OF NOTIFICATION:
27 October 2004

NEW/ UPDATE (see note):
New

QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:
N/A

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:
N/A

CONFIRMATION THAT THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
SECURITIES TRADED UPON SUCH A MARKET:
N/A

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE
LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:
N/A

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS
OF ITS INVESTMENT STRATEGY:
N/A

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED
SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:
N/A

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT ITS WORKING CAPITAL WILL BE
INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:
N/A

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:
N/A

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:
N/A

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:
N/A

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:
N/A

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A
FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION. THE ACCOUNTS MUST BE PREPARED ACCORDING TO UK
OR US GAAP OR INTERNATIONAL ACCOUNTING STANDARDS.
N/A




This information is provided by RNS
The company news service from the London Stock Exchange

[maxbubble] 17/11/2004 22:03

Topvest - good info i felt left out when AST rose today - now seeing i have TIR that makes up for it - any mention of Starvest buying any?

[maestro.] 17/11/2004 21:59

cheers topvest

[topvest] 17/11/2004 21:58

Page 18 of the AST AIM prospectus. Was only listed on the 10th November.

[maestro.] 17/11/2004 21:52

can't see any Ascent investment in portfolio unless its a recent buy

[agincourt] 17/11/2004 21:51

Tiger Resource Finance "High - Low - Last - Volume"
Date HI LO LS VO(U)
17-NOV-04 2.18 2.18 2.18 554380
16-NOV-04 2.18 2.18 2.18 155000
15-NOV-04 2.18 2.18 2.18 50000
12-NOV-04 2.18 2.05 2.18 309921
11-NOV-04 2.05 2.05 2.05 110000
10-NOV-04 2.05 2.05 2.05 250000
09-NOV-04 2.05 2.00 2.05 909058
08-NOV-04 2.00 2.00 2.00 4380
05-NOV-04 2.00 2.00 2.00 124189
04-NOV-04 2.00 2.00 2.00 12500
03-NOV-04 2.00 2.00 2.00 192560
02-NOV-04 2.13 2.00 2.00 208368
01-NOV-04 2.13 2.00 2.13 190000
29-OCT-04 2.00 2.00 2.00 115000
28-OCT-04 2.00 2.00 2.00 0
27-OCT-04 2.00 2.00 2.00 0
26-OCT-04 2.05 2.00 2.00 50000
25-OCT-04 2.05 2.05 2.05 600000
22-OCT-04 2.05 2.05 2.05 70000
21-OCT-04 2.05 2.05 2.05 132500
20-OCT-04 2.10 2.05 2.05 110000
{RETURN = next page, DELETE = new request}

[maestro.] 17/11/2004 21:49

topvest...how did you get info about Tiger being in Ascent...they are not listed in Tiger's portfolio...although the info seems out of date

[agincourt] 17/11/2004 21:49

Tiger Resource Finance "High - Low - Last - Volume"
Date HI LO LS VO(U)
17-NOV-04 2.18 2.18 2.18 554380
16-NOV-04 2.18 2.18 2.18 155000
15-NOV-04 2.18 2.18 2.18 50000
12-NOV-04 2.18 2.05 2.18 309921
11-NOV-04 2.05 2.05 2.05 110000
10-NOV-04 2.05 2.05 2.05 250000
09-NOV-04 2.05 2.00 2.05 909058
08-NOV-04 2.00 2.00 2.00 4380
05-NOV-04 2.00 2.00 2.00 124189
04-NOV-04 2.00 2.00 2.00 12500
03-NOV-04 2.00 2.00 2.00 192560
02-NOV-04 2.13 2.00 2.00 208368
01-NOV-04 2.13 2.00 2.13 190000
29-OCT-04 2.00 2.00 2.00 115000
28-OCT-04 2.00 2.00 2.00 0
27-OCT-04 2.00 2.00 2.00 0
26-OCT-04 2.05 2.00 2.00 50000
25-OCT-04 2.05 2.05 2.05 600000
22-OCT-04 2.05 2.05 2.05 70000
21-OCT-04 2.05 2.05 2.05 132500
20-OCT-04 2.10 2.05 2.05 110000
{RETURN = next page, DELETE = new request}

[insiderboy] 17/11/2004 21:20

keep an eye on CLY and TPT!!!!

[maestro.] 17/11/2004 21:16

blimey,i didn't realise they held that many...so if you missed the boat with ASCENT you can still get into Tiger at 2p..especially when they own a big chunk of CAmbrian as well...Rowan seems the maestro at picking mining stocks

[topvest] 17/11/2004 21:00

No movement in Tiger today, despite the fact that they own 22.5m shares in Ascent Resources (AST) after investing £200k or so. Worth £1.8m at close of play - what they will be worth tomorrow is anyone's guess.

[andonis] 14/11/2004 00:12

It should go up....a new Elliott wave has started

[ntv] 09/11/2004 11:01

if anyone from tiger reads this thread
why don't you consolidate the shares?
try 1 new share for every 100 old shares
this would be of great benefit to all and might at least cut the rediculous spread that puts potential buyers off

[andonis] 04/11/2004 20:51

Posted it in here anyway.....



Date: November 05, 2004

Bruce Rowan Has A Rare Animal In Tiger Resource Finance.

By Robert Wallace

The gamut of companies that make up the mining industry is wide; they come in all types and sizes. Explorers and producers, majors and juniors, drillers and assayers, financiers and promoters are some of the normally accepted classifications. However, Australian entrepreneur Bruce Rowan is an exception to the norms; he's a mining industry dealmaker. Instead of digging in the ground for minerals, he digs in the markets for deals.

After many years of living and working in Australia, Rowan moved to the UK about nine years ago. He was attracted by London's liveliness as a good environment for worldwide business and by what he saw as an upcoming growth market in mining after years of stagnation. All credit to him for making funds available to some tiny companies on Ofex three or four years ago when no one else would pull out a cheque book, but his way with warrants caused raised eyebrows.

Tiger Resources was first listed in January 2001. Rowan became Chairman and CEO in the following spring and acquired his 19 per cent shareholding during that year. Today the largest 20 other shareholders own another 30 per cent and there are some 2,600 smaller shareholders. The company is run with minimal overheads in Rowan's individualistic style. During August this year it bought back but not cancelled 18.4 million shares as it had plenty of cash and the shares were at a discount to net assets..

Tiger's first big deal after Rowan's arrival was typical. It set out to buy cheaply into loss-making South American gold explorer Minmet, acquiring a 6 per stake during 2002 and January 2003 for a total of £434,000, under 1.5p per share. By August last year, Minmet's finances and prospects had been transformed, mainly by buying into the Björkdal goldmine in Sweden. Tiger subsequently sold just over half its shareholding at 6.5p per share making a 4-times profit. At June 30 this year, Tiger's remaining 2.3 per cent holding in Minmet was still worth £541,616.

Foreseeing the slowdown in mining markets this summer, Tiger had built up a war-chest of £3.7million in cash by 30 June this year, greater than the £3.1million valuation of its investment portfolio. This is after the disposal of the company's remaining 195,000 shares in Ivanhoe Mines, in the books at a cost of £147,000 and sold for £657,347, a gain of 346 per cent. At June 30, Tiger's NAV was 2.65p per share and the company was sitting on unrealised gains of £1.5million on its 11-strong portfolio, including stakes in its biggest constituent, Cambrian Mining, plus River Diamonds and Ridge Mining which have all since risen strongly.

The rest of the portfolio consists of an eclectic collection of shares in African Eagle, Alamos Gold, Formation Capital Corp, Franconia Minerals, Gold Fields, Pacific North West and Tertiary Minerals plus assorted warrants. Tiger seems to have few boundaries and will acquire stakes in Gold Fields, one of the world's largest gold producers, just as easily as it will in OFEX-listed Franconia, a junior explorer for nickel, copper, PGMs and zinc. The common factor is the gains it reckons it can make; at June 30, Tiger's stake in Gold Fields had risen by 88 per cent over its cost and Franconia was 51 per cent up.

Rowan has a substantial shareholding in two other listed companies. His Australian investment company Sunvest Corporation, where Golden Prospect director Malcolm Burne is the second-largest shareholder, is quoted on the Australian Stock Exchange. AIM-listed Starvest, formerly a dotcom bust called Web ShareShop, is a more diversified investment vehicle than Tiger with stakes in eight smaller mining and three non-mining companies.

Rowan reckons we are in a cyclical uptrend for mining which has a long way to go. The Indian sub-continent has a larger and faster-growing population than China and he sees the emergence of India as an important guarantor of increased demand for commodities in the future even if China falters.

With all that unallocated cash, it will be interesting to see which way Rowan's Tiger pounces into more deals ahead. Maybe it will give the boss a crash course in computing so that he can visit Minesite and knows when the Mining Forums are due to be held.

[gardenboy] 04/11/2004 20:25

Tiger article on minesite,