Tiger Royalties And Inve... Share Discussion Threads

[pparkin405] 24/11/2004 08:24

Looks like Bruce holds over 3m in Africa Eagle as a private shareholder as well as over 1m from tiger, not a bad return this morning, surely their rise should reflect this share price eventually it's gone up about 6p already this week

[porker] 23/11/2004 11:06

Yeah me. Correct, no reply.

[sbf] 22/11/2004 21:17

Okay thanks Wolstencroft looks like we are nearly there. I agree all the figures, cash position of £2,893,480 as far as we know. There is a loan note to MIT Ventures for £40,000 as well.
Then finally we do not know what half the warrants are maybe we will find out more in the AR. I think someone mentioned emailing the company but presume no reply.

[wolstencroft] 22/11/2004 09:48

Ok here is another go...#

Holding Price Exchange Value
Africa Eagle AFE 1241274 0.200 1 248255
Alamos AGI.TO 106293 3.980 2.21 191424
Cambrian CBM 1350000 1.470 1 1984500
Warrants 1200000 1.270 1 1524000
Warrants 150000 0.970 1 145500
Formation FCO 2025000 0.420 2.21 384842
Franconia 1666667 1 68750
Gold Fields GFI 10500 14.700 1.86 82984
Minmet MNT 17471488 0.028 1 480466
Pacific North West 566500 106974
River Diamonds RVD 6666666 0.028 1 183333
Warrants 6666666 0.013 1 83333
Ridge RDG 100000 0.580 1 58000
Bullion BLO 9000000 0.035 1 315000
Tertiary 1330000 0.100 1 133000
Ascent?? 22500000 0.010 1 225000
Loan -534270
Cash at interims 3672000
Less Bullion Resources Purchase -180000
Less own share purchases -373520
Less Ascent?? -225000

Total 9353090
Shares issued 217000000
NAV Pence 4.31
Share Price Mid 2.28
Discount 47.22%

[sbf] 21/11/2004 22:28

Thanks Wolstencroft,
Okay lets see if we can get this NAV correct

I have adjusted Minmet down and I will have to try and remember how I did the warrants, will have a look tomorrow, I thought I had reduced the cash as if they were purchasing them. Your Alamos holding I think is wrong it needs to go up to 106293 shares, the 27611 was the original purchase value as shown in the Interim Report. Adds another £140,000 to your figures

Also BLO should be added as per this release although happened after half year so I have added in.

RNS Number:5441E
Bullion Resources PLC
27 October 2004



Bullion Resources PLC (the "Company" or "Bullion")

Holding in Company


The Company has been notified by Tiger Resource Finance PLC ("Tiger"), a company
associated with Colin Bird, a Director of Bullion, that it has acquired an
interest in 9,000,000 ordinary shares in the capital of the Company as a result
of the allotment of such shares to it on 12 October 2004 pursuant to the non
brokered private placing at 2p per share.


Tiger's shareholding interest represents approximately 11.6 per cent.of the
current issued share capital of the Company.

Adds about £200,000 on to the figures at 4.25p Friday evening.

Completely agree re AST

Is your Loan figure from the Creditors due on the Balance Sheet?

[wolstencroft] 21/11/2004 16:53

SBF: Remember for CBM thay have to subscriber to the warrants for either 20p or 50p per share. At a share price of CBM of 1.50 I make their holding worth about 3.75 million, assuming no time-value for the warrants (so fair market value will be higher)

I made a mistake in the forex for canadian stocks in an earlier calculation.

My calculation is now showing a 40% discount (assuming sense prevails an ascent return to something around 1p and that TIR do indeed have a holding. At 5p the NAV is about 0.4 pence per share higher)

Holding Price Exchange Value
Africa Eagle 1241274 0.19 1 235842
Alamos 27611 3.95 2.21 49350
Cambrian 1350000 1.5 1 2025000
Warrants 1200000 1.3 1 1560000
Warrants 150000 1 1 150000
Formation 2025000 0.43 2.21 394005
Franconia 1666667 1 68750
Gold Fields 10500 15 1.85 85135
Minmet 17471000 0.03 1 524130
Pacific North West 566500 106974
River Diamonds 6666666 0.03 1 200000
Warrants 6666666 0.015 1 100000
Ridge 100000 0.58 1 58000
Tertiary 1330000 0.1 1 133000
Ascent?? 22500000 0.01 1 225000
Loan -540000
Cash 2897000
Total 8272186
Shares issued 217000000
NAV Pence 3.81
Share Price Mid 2.28
Discount 0.40

[miahkaysor] 20/11/2004 23:50

SBF
Thanks for the above, I have already invested into this, based on my little calculation giving me similar NAV, I hope to add more to my portfolio before this heads north!

[sbf] 19/11/2004 21:41

With the lack of up to date information on the Tiger website, secrecy in their dealings and complexity which had developed in their dealings over the last few months I am struggling a little to get a correct valuation. I try to track their portfolio and here are the results I have as of this evening. Please feel free to correct mistakes I am sure there will be some. We will have to wait for the AR to see any sales since 30th June so I have not speculated on these. Also the interims mention twice the number of warrants than have ever been mentioned before but did not specify what they all were, so I have only used the ones mentioned in the last annual report. To keep things simple I treat all warrants I know of which are in the money as purchased for ease of valuing therefore my cash will be less than some may show.

AFE 1,241,274 £226,532
AGI 106,293 £191,222
BLO 9,000,000 £382,500
CBM 1,350,000
1,200,000 warrants
150,000 warrants £4,063,500
FCO 2,025,000 £388,263
GFI 10,500 £84,400
MNT 21,471,488 £644,144
PFN 566,500 £109,895
RDG 100,000 £59,500
RVD 6,666,666
6,666,666 £399,999
TYM 1,330,000 £126,350
Franconia 1,666,667 £58,333

Finally if we believe the Prospectus for AST we can add the following, however we have no confirmation of this yet from TIR. Take your choice add £225,000 back to cash to be more conservative.

AST 22,500,000 £1,575,000

Cash £2,889,937

Total £11,199,575

Shares on issue (excluding treasury shares ) 217,481,939

NAV 5.15p per share

[wolstencroft] 19/11/2004 20:37

I have used my spreadsheet with 29 October prices and cannot get TIRs number (I am sure they are right and myself wrong I get about 3.9p instead of 3.43p). But the discount is clearly very high in the regio of 30-50% - I have bough 800,000 on this basis, as Formation and Cambrian are two of my core holdings and Tigers assets after cash are about 70% in just these two stocks.

[porker] 19/11/2004 16:37

Wolstencroft, Yes you seem to be correct, discount more like 45%.[ I had meant to write 50% in 1st email]I have asked the Company to Email me a list of their present holdings so we can see exactly.
AFE rising 31% today is good news for TIR who hold 1,241,274 shares.[I think]

[dfgo] 18/11/2004 23:33

The shares in AST are in Bruce Rowan name I don!t think are anything
to with Tiger Resource?

[topvest] 18/11/2004 21:53

Agincourt - Yes, I noticed that as well. The AIM 10-day notice does not mention Tiger's holding. 22.5m shares in the final prospectus though. I would go with the prospectus being correct as this was the final document.

[agincourt] 18/11/2004 13:13

RNS Number:3827F
Ascent Resources PLC
18 November 2004



Ascent Resources plc

Statement re share price



The Directors of Ascent Resources have noted the increase in the Company's share
price. The Company has been established for the purpose of making investments in
the mining, minerals and oil and gas sectors. However, it has been quoted only
since 10 November and is only in the very early stages of implementing its
investment strategy. At the current time, the Directors are not aware of any
reason for the increase in the share price. Developments will be announced as
and when they occur.

[agincourt] 18/11/2004 13:13

RNS Number:3827F
Ascent Resources PLC
18 November 2004



Ascent Resources plc

Statement re share price



The Directors of Ascent Resources have noted the increase in the Company's share
price. The Company has been established for the purpose of making investments in
the mining, minerals and oil and gas sectors. However, it has been quoted only
since 10 November and is only in the very early stages of implementing its
investment strategy. At the current time, the Directors are not aware of any
reason for the increase in the share price. Developments will be announced as
and when they occur.

[dfgo] 18/11/2004 13:01

RNS Number:7106E
Tiger Resource Finance PLC
01 November 2004


Tiger Resource Finance plc ('Tiger' or 'the Company')

NAV Update


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.

For further information please contact:

Bruce Rowan, Chairman Tel: [phone]

Colin Bird, Director Tel: [phone]





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

PFUUUGRPGUPCGAG

[dfgo] 18/11/2004 13:00

RNS Number:3851C
Tiger Resource Finance PLC
27 August 2004


TIGER RESOURCE FINANCE PLC ('TIGER')

Treasury shares


Tiger announces that, as at 27 August, 2004, it has purchased in total
18,400,000 ordinary shares of 1p each which are to be held as Treasury Stock.

The issued share capital of Tiger excluding these treasury shares is 217,481,939
ordinary shares of 1p each.

Bruce Rowan has notified Tiger that he holds 44,666,239 ordinary shares being
20.5% of the issued share capital less treasury shares.


For further information please contact:

Bruce Rowan - Chairman
+ 44 (0) 207 486 3997

Colin Bird - Director
+ 44 (0) 207 581 4477


27 August, 2004


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

[wolstencroft] 18/11/2004 12:42

I think that the discount is more like 45% (a 100% discount would imply that the share is 0p! - a 50% discount implies that the share is trading at half is NAV).

My calculation is thus:

Holding Price Exchange Value
Africa Eagle 1241274 0.09 1 111714.66
Alamos 27611 3.95 2.21 241030.2245
Cambrian 1350000 1.35 1 1822500
Warrants 1200000 1.15 1 1380000
Warrants 150000 0.85 1 127500
Formation 2025000 0.4 2.21 1790100
Franconia 1666667 1 68000
Gold Fields 10500 15 1.85 85135.13514
Minmet 17471000 0.03 1 524130
Pacific North W 566500 140000
River Diamonds 6666666 0.03 1 199999.98
Warrants 6666666 0.015 1 99999.99
Ridge 100000 0.6 1 60000
Tertiary 1330000 0.09 1 119700
Loan -540000
Cash 3670000
Total 9899809.99
Shares issued 235881000
NAV Pence 4.196951001
Share Price Mid 2.325
Discount 45%

[porker] 18/11/2004 10:27

I,ve started this thread for you all to become involved as it seems after a cursory glance that TIR is trading at 100% discount to NAV.Will study it in detail this evening.

[porker] 18/11/2004 10:23

This Tiger could roar.

[maestro.] 18/11/2004 09:05

my buy 88888 shown as sell

[spymaster25] 18/11/2004 09:01

18 November 2004


NOTICE

(436)

18/11/2004 8:50am


TEMPORARY SUSPENSION OF TRADING ON AIM


ASCENT RESOURCES PLC

At the request of the company trading on AIM for the under-mentioned securities
has been temporarily suspended from 18/11/2004 8:50am pending an announcement.


Ordinary Shares of 0.1p each (B03W6Y8)(GB00B03W6Y84)
fully paid


If you have any queries relating to the above, please contact AIM Regulation at
the London Stock Exchange on 020 7797 4154

[maestro.] 18/11/2004 08:51

hope Rowan sold AST at 20p

[agincourt] 18/11/2004 08:47

Looks very interesting but:


Very small

Wide spread and both SVE and GOL (which I hold) which are not entirely unconnected or similar consistantly trade at substantial discounts to net asset value.

Of course because of the ast situation this has taken a hike in net asset vale.

[ntv] 18/11/2004 08:45

can you let me know how many shares they have in ast