Tiger Royalties And Inve... Share Discussion Threads

[crazy russian] 17/11/2005 14:30

it may be people with automatic stop losses
although I have never seen value of such with small stocks that have such huge spreads
they cant operate efficiently (IMO)

[johndee] 17/11/2005 14:26

There is no need to explain....people selling low, well below likely future prices. Probably people who bought recently at higher prices.

[brandon] 17/11/2005 14:10

Johndee

Can you explain?

[johndee] 17/11/2005 13:20

Some very short sighted people selling today!!!!!!!!!!!

[hectorp] 16/11/2005 19:07

going down with the titanic I think. will revisit recent lows again. That is where I should ahved bought.

[gwon] 16/11/2005 12:51

Hector, good point. But then why the buyback?
My only decent mining stock at the moment is GGG

[hectorp] 16/11/2005 12:39

But are the values of the investments not falling as most oil and mining cos are falling ?
My portfolio is a battlefield or red miners these days.

[gwon] 16/11/2005 12:25

I estimate that the buyback exercise alone has increased the NAV by 8%, so even with no growth in the last quarter of 2005, the NAV will be 5.9p per share at the end of December!
At today's price that's a discount of 35%.
What a bargain!!

[silverlining] 16/11/2005 08:11

hmmm ... not the sort of trades I was hoping for

[silverlining] 16/11/2005 08:05

Wot? No trades yet - market's been open for at least 5 minutes!

[kombimatec] 15/11/2005 20:15

That's probably the most likely senario, sell them for a profit.

[maxbubble] 15/11/2005 10:27

I suppose they could sell them onto an institution at a later date in one lump at a higher price and bank the profit - bought 35m @avg 3.2p value approx £1m - sell on 35m @10p = £3.5m ......profit = £2.5m

[firkin] 15/11/2005 10:11

Treasury shares do not vote. They are disregarded in calculating NAV.
This exercise by the Company has increased NAV by a large %.
The rationale has to be the possible sale of the Company before the end of the financial year. This conclusion is reached because a company can only hold 10% in treasury. If they exceed this the number must be reduced within 12 months.
This can be effected by
1. re-selling the shares.
2. cancelling the shares.
3. for employee share scheme.
The first option should not be used unless the shares are sold at nav because to do so would reduce nav and be unfair to existing shareholders.
The second option would mean a heavy tax charge to profit % loss account thereby reducing nav!

It appears that my analysis leads to the only conclusion - selling the co. at as near to nav as possible.

All IMHO.

Please refer to posting 421 by crazy russian

[crazy russian] 15/11/2005 09:55

the answer may be in the word 'relevant' in the above post

but do the directors have those shown shares of the shares NOT in treasury or in the '100%'

IOW bruce has 48m = 24%
treasury has 35m = 18%

so is he in control of 42%

or have we already established that treasury shares dont vote?

[gwon] 15/11/2005 09:37

Completion of Buyback Program

RNS Number:1068U
Tiger Resource Finance PLC
14 November 2005




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


Transaction in Own Shares



Tiger announces that on 11 November 2005, it purchased 300,000 ordinary shares
at 4.20 pence per ordinary share. These shares are currently held as treasury
stock.


Following this purchase, Tiger now holds 35,000,000 ordinary shares in treasury.
This purchase completes the company's current share buy-back programme.


At this date, the directors' holdings in the Company's relevant share capital
are as follows:


* Bruce Rowan - 48,366,239 (24.08%)

* Colin Bird - 1,635,000 (0.81%)

* Michael Nolan - 125,000 (0.06%)

[crazy russian] 12/11/2005 11:34

if the company is prepared to buy our shares maybe we should give them a call

or would this upset the MMs??
(retorical of course!)

mine are NOT for sale

[metallica] 11/11/2005 17:45

Yes but when you or I sell/buy we ring a broker who put our orders through a marketmaker. And ultimately ie Winterfloods set the price.

[kombimatec] 11/11/2005 10:56

Currently the buy backing is having a two way affect. Firstly the company buys reduce the number of shares in circulation. They are purchased at a discount to the NAV therefore it has the effect of increasing the NAV per share. Secondly it also provides a market for the sold shares thereby maintaining the current market price which has narrowed recently the discount to NAV. Knowing the directors have a significant holding I imagine that since the company is happy to pay 4.2p currently there will be a big jump in the NAV declared early January. I congratulate the directors in advance.

[dfgo] 10/11/2005 13:34

Yes it does increase the share price the nav worked out on shares in circulation excluding the by back shares, I phoned TIR to check.

[metallica] 09/11/2005 17:21

SilverLining

The price has nothing to do with the number of shares in circulation. The price is set by the marketmakers and the institutions. Currently TIG has only one major shareholder besides Bruce. So we need more institutions to move this higher of for that matter lower.

[silverlining] 09/11/2005 13:23

same again today taking the total to 34,200,000
This should be reducing the no. shares in circulation and push the price up - or have I got it wrong?

[dfgo] 08/11/2005 17:26

Transaction in Own Shares

RNS Number:8066T
Tiger Resource Finance PLC
08 November 2005









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


Transaction in Own Shares



Tiger announces that on 7 November 2005, it purchased 250,000 ordinary shares at
4.20 pence per ordinary share. These shares are to be held as treasury stock.


Following this purchase, Tiger now holds 34,050,000 ordinary shares in treasury.


Enquiries :


Bruce Rowan - Chairman: 020 7486 3997

Colin Bird - Director: 0207 581 4477

[hectorp] 01/11/2005 09:25

Well worth adding thats my ist 40K today. Yes by Feb 06 a few of these holdings will look better. I appreciate Rowan's presence. £5M cash can also goa long way with some of the small stocks. Not a bad spread for a penny share .
H.

[buffin] 01/11/2005 07:42

For such an excellent spotter of anomalies (both financial and geophysical) as Bruce Rowan, a share price that stands at 50 per cent discount to NAV and is widening is a signal for action. More especially so when that discount is in his own investment vehicles, Starvest and Tiger Resources.

Bruce's problem is that both Tiger and Starvest have been victims of his success. Although others may be nervous that mining minnows are last year's fashion and abandoned the sector, he has powered on. Thus, while his share price has been lagging the net asset values of his vehicles have continued to rise

Cash resources at these two are very different, so Bruce has chosen appropriate battle tactics. For cash-risk Tiger Resources Finance the tactic has been share buy-backs – which have partially done the trick, and doubling the share price so that at 4p it has made up some group towards its 5.3p NAV. The company has bought in a total of 14 per cent of its own equity, and currently still sits on over £5million cash. What is more, along the way it has attracted a Bahamas-based investor, Strongbow, about which little is known to Bruce bar that it is holds 4.3 per cent and is run by two brothers called French!

For Starvest the company has forked out for an independent piece of research to begin some marketing. The 19 stocks, 15 in mining, were showing an average 78 per cent gain at the July year end measured over the past two years. Since July the portfolio has soared, showing an additional 32 per cent. While the note points out that 15 per cent of the portfolio is now invested outside of natural resources, it is for the mining minors that his investment skills are well known.

Bruce Rowan has always been a good picker among the small 'uns and he had a winning new issue this summer in Ofex Russian oil explorer Concorde Oil & Gas. Starvest supported both at pre-IPO and IPO stages – the former being a favourite hunting ground.

In fact, concern at the heavy weighting in illiquid pre-IPO and OFEX stocks, the research suggests could be a factor in Starvest shares' underperformance. If this is the case it is a pity, as he has always done well for his investors supporting tiny companies – albeit on tough terms -that would otherwise not make a start. .

The strength or weakness conundrum is also debated in relation to stock weighting. Another factor in Starvest's summer's performance is recovery as the market liked the year end results, plans and cash emanating from new management at African Platinum, Bruce's major success. Bruce's follower will know that he made a truly substantial profit in Afplats in 2003 and 2004 as the shares rose ten-fold when it was in the hands of Phil-the-spin Edmonds..

The Starvest portfolio is no longer so massively by Afplats – a year ago it was 75 per cent of the investments at market value and is now down to well under half and still falling. But the scary ride, with Afplats at one stage contributing substantially to a 24p net asset value early last year, and then to the fall to 16.8p by 2005's financial year end , might have shaken out some investors.

So, what is sitting in this portfolio that is so undervalued by the market, apart from Afplats and Concorde. The answer includes Toronto and OFEX quoted US zinc and PMG explorer Franconia Minerals, AIM quoted investors Hidefield and Regency with a mixture of projects, AIM quoted Egyptian tantalum explorer Gippsland, Irish AIM quoted explorer Belmore and OFEX quoted Ethiopian explorer, Sheba.

Over at Tiger Resource Finance Bruce went cautious on metals and ventured into oil and gas, two major picks being AIM's Nautical Petroleum and Ascent Resources.

Current tactics? Bruce is not rushing anywhere at the moment either on his own vehicles or investing. Markets, he believes, will be ready to pick up by February 2006 and he believes that industrialisation in China and India will give resources markets another five or so strong years. Nothing new about that, but it is unlikely that he has not had a few approaches for cash rich Tiger Finance to be used as a shell. We may soon know if Bruce is as shrewd a seller as a buyer.

[maxbubble] 28/10/2005 11:45

From last accounts:

Earnings/Losses per ordinary share included in the Profit and Loss
statement is based on the weighted average number of shares of
235,881,939. The NAV calculation is based on the total number of issued
shares (235,881,939) less shares held in treasury (18,400,000) i.e.
217,481,939 shares.