Tiger Royalties And Inve... Share Discussion Threads

[macansy77] 15/2/2005 15:35

Hi Buffin - just saw your post on MW! Leave it with me for a while and i'll try and get absolute confirmation on the warrants position - i have a colleague who is in contact with management so we'll have an answer either way!

[ntv] 15/2/2005 15:30

nice move boys

[macansy77] 15/2/2005 15:29

I'm fairly certain that this is how the valuation of warrants works in this instance but I will try and find out for sure...

[buffin] 15/2/2005 15:26

macansy

We agree that back in June the warrants were in at "value", not "cost". So why not in December?

I'll shut up now, I'm talking my own book down, being a holder already! People can see the two views, and it's up to them.

DYOR as ever :)

[wolstencroft] 15/2/2005 15:23

"I don't see that TIR could have attributed anything other than cost value to the warrants in their NAV until such time they were converted and sold?"

Why not: If warrants are in-the money then they do have an instrinsic value and I would expect any holder to value them at that intrinsic value and not at book cost.

Anyway, remember the tax TIR will have to pay on this gain. I still maintain the NAV post-tax of tir to be about 3.8p which means that the discount is pretty narrow at the moment.

[speed camera] 15/2/2005 15:19

Tiger also has a holding in Tertiary Minerals I believe. This has been pushing ahead over the last few days as well.

[pkw] 15/2/2005 15:14

macansy77 - so, 5p-5.5p a share perhaps. But very hard to put fair value on all TIR(there is so much unrealised):
5p- 5.5p a share looking increasingly conservative, but probably a reasonable target till more of the picture can be seen.

[porker] 15/2/2005 15:11

Tiger makes £2.3m on sale of Cambrian shares.Good.Price spiralling up 25% so far.Good.

[buffin] 15/2/2005 15:08

*That's* fair comment :)

[macansy77] 15/2/2005 15:04

TIR's last NAV figure (31/12/04) does not take into account the rise in BLO since then...

[macansy77] 15/2/2005 15:01

There's also the BLO suspension today due to a reverse takeover situation. TIR has 9million shares bought at 2p - price for BLO when suspended was 6.25p

[pkw] 15/2/2005 14:58

macansy77 - that is my reading also. In addition, as before, CBM at 31st Dec.
- the last portfolio valuation date, was only 160p. Whatever - looks like at least
5p value here.

[macansy77] 15/2/2005 14:50

Buffin - as posted on MW...

"Last referral I can find for those warrants attributes only a cost value to them, £384000. That was taken from the results statement in August 2004.

As far as I can make out and to the best of my knowledge, there has been no other value attributed to these warrants until the sale today...


I don't see that TIR could have attributed anything other than cost value to the warrants in their NAV until such time they were converted and sold?"

[mikehardman] 15/2/2005 14:43

thnx for welcome, Buffin

[buffin] 15/2/2005 14:43

Delighted to see the value of my investment rising ... but the detailed valuation back in June included a figure for Fair value of warrants ... so has this sale added anything to the December NAV?

[madasafish] 15/2/2005 14:40

Looks good to me: joined Mike H and all with a few: trade not yet gone through..

[pkw] 15/2/2005 14:32

Looks as though TIR's basic value should be much higher than its last 4.1p per share figure calculated by the company: that was announced 11/1/05 based on
cash and investments at 31st December04 - the CBM holding would have been
shown at a lower value then than the realised value(and, the warrants value
might have been shown even lower until realised).

Next quarterly valuation should be very interesting - 5p?

[pkw] 15/2/2005 14:22

PKW - 15 Feb'05 - 13:57 - 166 of 168 edit
Has the penny finally dropped??? - TIR worth £10m+ Share price even at
discount must hit at least 3p a share, but deserves to be 3.5p+, particularly
now with so much extra cash in the bank(and still with substantial mining
interests!).

.... YES, penny seems to have dropped at last. Question is, will the
investors be quick enough to stop the MMs taking control of the rewards?!

[buffin] 15/2/2005 14:18

Welcome, Mike ... these changes shake up the position considerably.

[mikehardman] 15/2/2005 14:11

onboard at 2.7p; better late...

[buffin] 15/2/2005 14:01

RNS Number:6312I
Tiger Resource Finance PLC
15 February 2005







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


Sale of Cambrian shares


The Board of Tiger (the "Board") announces that the Company has exercised
1,200,000 warrants and 150,000 options at a total cost of #375,000 in Cambrian
Mining Plc ("Cambrian"). The resulting Cambrian shares were sold on the 14
February 2005 realising proceeds of #2,708,708 and a profit on the transaction
of #2,333,708.


Tiger acquired the warrants and options as part of an investment in Cambrian in
March 2003. This investment represents a typical example of Tiger playing a
pro-active role in the formative years of a company where an investment is made.


This announcement is made in accordance with our policy of announcing all
material transactions. A material transaction is defined by the Board as a deal
that equals at least 20% of the Company's portfolio value.


Bruce Rowan, Chairman and investment director said that "he was very pleased
with Cambrian's performance and with the profits that Tiger has realised with
this investment in Cambrian".



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

[pkw] 15/2/2005 13:57

Has the penny finally dropped??? - TIR worth £10m+ Share price even at
discount must hit at least 3p a share, but deserves to be 3.5p+, particularly
now with so much extra cash in the bank(and still with substantial mining
interests!).

[vatattack] 15/2/2005 13:38

RNS Number:6286I
Bullion Resources PLC
15 February 2005




Bullion Resources plc (the "Company")

The Company notes the share price movement today and wishes to announce that it
is in advanced stage talks which, if completed, will amount to a reverse
takeover of the Company. The Directors have therefore requested an immediate
suspension of the shares from trading on AIM.

[vatattack] 15/2/2005 13:37

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.