Tiger Royalties And Inve... Share Discussion Threads

[skyship] 29/3/2006 11:26

Had to pay 3.15p to get that 2nd 100/-; so a nice turn for the MM who bt that stock @ 2.9p.

[dfgo] 28/3/2006 18:37

wrong thread

[Abuse team] 27/3/2006 23:04

Post removed by ADVFN

[skyship] 27/3/2006 17:28

I'll make two guesses regarding today's trades:

1. That 500/- sale @ 2.9p was some poor sod being stopped out when they droppped to 3.0p bid

2. That 500/- buy @ 3.15p was either the shop buying-in again or Strongbow increasing their stake - perhaps an RNS tomorrow will reveal....

I bid 3.1p for another 100/- and didn't get filled - now I see why

[skyship] 27/3/2006 09:52

Looks like the time to be fishing here again. Bt a first 100/- @ just 3.19p today. Anyone got an estimate of the current NAV?

[ccorton] 23/2/2006 17:05

Yes. Holding has gained 250k since December NAV I think.

[cezary] 23/2/2006 15:26

Franconia up 8.5p today!!

[ccorton] 22/2/2006 16:26

My basic reason is that I like to know a rough nav on an on-going rather than quarterly basis. Also, its good to work out the sensitivity of the nav to different share price movements.

[handybe] 22/2/2006 14:56

I don't know why you guys are wasting all this time arguing about nav. The RNS on 19 Jan gave it as 4.9p for investments and cash only. We would have to look at the last balance sheet to get other assets and liabilities. From memory, this would bring the figure down to about 4.7p, but we should have a new b/s soon

[ccorton] 19/2/2006 22:44

Also - the goldfields holding is very small. Ascent and Nautical are the big ones (+ a best guess of 5.7million cash)

[ccorton] 19/2/2006 22:42

Thanks for the info. Not convinced that any Goldfields price rise is automatically going to be reflected in TIR price. Further, my best guess NAV (recalculated to reflect Cambrian and August results) is 5.06 - suggesting that a buy price of 3.6p results in only a 30% discount to NAV which is apporximately TIR's tax liability on its capital gains.

[buffin] 19/2/2006 21:44

ccorton -

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.

- just over a year ago.

[pparkin405] 19/2/2006 18:58

apparently goldfields is the suitor for Lonmin as Tir holds shares on goldfields expect a lift

[ccorton] 19/2/2006 12:19

[THIS CALCULATION IS BASED ON PARTIAL AND OUT OF DATE INFORMATION]

OK - restated to take into account the 35 million shares in Treasury and estimated cash (end-2004 3.7million; assume 300k costs = end-2005 3.4million).

Number Price(UK pence) Value

1200000 18.25 219000 African Eagle Resources plc

106293 4.4 4676.892 Alamos Gold Inc.

26895604 9.5 2555082.38 Ascent Resources Plc

1200000 107 1284000 Cambrian Mining plc

2025000 18 364500 Formation Capital Corporation

1666667 16 266666.72 Franconia Minerals Corporation

10500 1275 133875 Gold Fields Limited

31470000 0.89 409110 MinMet plc

9000000 13.75 1237500 Nautical Petroleum Plc

566500 17.4 98571 Pacific North West

100000 41.5 41500 Ridge Mining Plc

3333333 1 33333.33 River Diamonds Ltd

1330000 9.5 126350 Tertiary Minerals plc

3400000 CASH

TOTAL VALUE £10 045138


Shares Issued 235881939
Shares in Treasury (35000000)
Options 16950000
=217831939
NAV 4.61

+ Cambrian option value (which has presumably now been converted into shares) = £1million thus NAV 5.04p

[topvest] 19/2/2006 12:13

They sold out on Cambrian for a huge profit. A number of the original investments were made before BR came on board. Most of his investments since have been very good e.g. Ascent Resources and Nautical Petroleum to name a couple.

[ccorton] 19/2/2006 12:12

The 2004 annual report confirms TIR holding in Cambrian at end-2004 and I can't find any Cambrian news releases suggesting that they sold out subsequently. Perhaps someone could check the list of investments in the 2005 interim report as it is not on the internet.

[buffin] 19/2/2006 11:05

Surely TIR sold out of Cambrian some time back? When I last looked, the site was out of date. I think you'd have to trawl through RNS's.

[kombimatec] 19/2/2006 09:01

Deduct treasury shares and add on the huge cash reserves. If they probably still have at least 5m in cash plus your valuation above of 7.5m divided by 200m shares that's 6.25p PV. Afterall they reported 4.9p PV at end of december. These figures include unrealised gains and exclude tax due on them. If correct that would imply the current share price is at a discount of 43% to PV.

[ccorton] 19/2/2006 01:40

Particularly since only the Cambrian options seem to be worth anything - about £1million which pushes the NAV to 3.3p

[maestro.] 19/2/2006 01:26

very dissapointed though with Rowan's selections ...he's picked alot of dogs in that lot...not much of a stock picker is he>?...the only one i see worth investing in is Ridge mining...should rocket monday on Lonmin bid news

[ccorton] 19/2/2006 01:23

I have spent an hour putting this together. It excludes options and is based on information on the website rather than in the annual report from 2004. Corrections welcome.

Number Price(UK pence) Value

1200000 18.25 219000 African Eagle Resources plc

106293 4.4 4676.892 Alamos Gold Inc.

26895604 9.5 2555082.38 Ascent Resources Plc

1200000 107 1284000 Cambrian Mining plc

2025000 18 364500 Formation Capital Corporation

1666667 16 266666.72 Franconia Minerals Corporation

10500 1275 133875 Gold Fields Limited

31470000 0.89 409110 MinMet plc

9000000 13.75 1237500 Nautical Petroleum Plc

566500 174 985710 Pacific North West

100000 41.5 41500 Ridge Mining Plc

3333333 1 33333.33 River Diamonds Ltd

1330000 9.5 126350 Tertiary Minerals plc

TOTAL VALUE 7532277.322


Shares Issued 235881939
Options 16950000
=252831939
NAV 2.98

[kingrolo] 17/2/2006 18:55

Very quiet on TIR.... especially as two key holdings AST and NPE were both up 5% today and getting positive publicity. Should be due another update from Bruce shortly. Another of his vehicles - Starvest certainly shot up recently...hope he can do the same and inject a bit of life and excitment into TIR... Any views??

[dfgo] 06/2/2006 17:38

Tiger Resource Finance PLC
06 February 2006


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

Significant shareholding


The Company received notification on 3 February 2006 that, following an
acquisition of 1,000,000 ordinary shares of 1p each ('Ordinary Shares'),
Strongbow Capital Limited holds 16,900,000 Ordinary Shares in the Company, which
represents 8.41% of the relevant share capital of the Company.

The current issued share capital of the Company is 235,881,939 Ordinary Shares
and Tiger now holds 35,000,000 ordinary shares in treasury


For further information please contact:

Bruce Rowan, Chairman Tel: [phone]

Colin Bird, Director Tel: [phone]

[blank frank] 04/2/2006 19:40

The nearest OFEX equivalent to TIR is EYE - Eyeconomy Holdings. TIR boss Bruce Rowan and EYE boss Paul McGroary seem to have some sort of working relationship. Paul McGroary is also CEO of India Star Energy, and last week Bruce Rowan's SVE invested £150K. into INDY.


EYE's current market cap. is just £1.17M. at 8.365p:


Some of EYE's holdings may have good newsflow over the next few months.


B.F.