Tiger Royalties And Inve... Share Discussion Threads

[zedder] 29/5/2007 21:03

Last NAV formally quoted of 6.04p at 31st Mar 07.

Thought I'd have my own quick tot-up, so just looking at the some of the big holdings then:

27.1m AST @ 16p plus 2m sold @ approx 16p average = 4.6m (I believe interest in AST is increasing sufficiently that they could offload in a X-trade if they wished to)

958,000 FRA @ Can$3.90 = 1.76m (X-Rate of 2.124)

9m NPE @ 7.5p = 675k

100k RDG @ 140p = 140k

Cash 4.33m. This will have changed since interims to 30 Jun 06, but mostly through share buybacks. 10.35m bought back at approx ave of 3.6p = roughly 370k. Hopefully interest received will have pretty well covered costs, so cash still of approx 3.96m plus the proceeds of 2m AST sold (see above)

So forgetting the smaller holdings I get approx 10.7m divided by 191.7m, which is approx 5.6p/share undiluted.

PAF suspended at present so allocating no value here for now, but 5.1m of these could be worth 500k+ when it returns.

[witteklip] 29/5/2007 18:52

Good value

I may add some at 3.5 if these keep being undervalued

[zedder] 29/5/2007 08:34

Done at 3.66p

[zedder] 29/5/2007 08:33

Been tracking this one for a while. Here goes with a 100k share buy. See this as a cheap way into FRA and AST at present.

[witteklip] 27/5/2007 14:50

If Tiger (TIR) is mostly in cash right now then I support that. I suspect there may well be a sudden, sharp correction to the markets this year (that includes a dumping of resource stocks) - If so Bruce will be well positioned to capitalise on that situation.

So far, aside from the market's illogical perception of this company's value (which I think that Bruce should address), he has done a FANTASTIC job.

Bravo Bruce.

[smilewithme] 25/5/2007 14:49

Franconia Price Target Cdn$10 to $20

Based on comparison with Polymet Mining POM/PLM, Franconia's own share price projection is US$ 8.48 (Cdn$ 9.16), so that's still two or three times todays price. Also, note that this projection does not include the potential doubling of FRAs resource from Spruce Road, to say nothing of Red Knoll.

Given that FRA does not need to raise any money over the next two years (around 20 million dollars in the bank), my view is that we can easily see Cdn$10 to Cdn$20 as the resource is confirmed.

Encourage people to take advantage of any short term weakness.

PS. And yes, the share price was $1.70 in March ;-)

[witteklip] 24/5/2007 14:10

SKYSHIP - 24 May'07 - 11:18 - 803

Trouble with this timing is that summer is a traditional off time for commodity stocks. I suspect that w'll revisit 3.50 before this moves up - Selling this anywhere below 4.5 would be nuts. 6p looks much more reasonable.

[skyship] 24/5/2007 11:18

IMO patience will bear fruit - the Finals are belatedly due sometime very soon, certainly should be within the next couple of weeks. They will clarify the portfolio position. A month later we will get the updated NAV to 30th June. In between I sincerely hope the buybacks will recommence & they should ensure we break up through the 3.75p resistance.

Of course, should the outside bet succeed of director Colin Bird intervening to use TIR as a vehicle for other mining interests, then the share price will really take off.

All in all - most decidedly not the time to duck out of the game!

[johndee] 23/5/2007 22:37

maybe bettert o sell, use the money to make more money and then buy back...even at higher levels if necessary.....I think only slightly higher in the short term................shame the spread is a bit much though.

[traderabc] 23/5/2007 21:25

It has been disappointing.I would have thought that Bruce's management warrants the same sort of discount SVE or SUN have.As with many stocks patience may be required. Some sort of update could be helpfull.

[witteklip] 23/5/2007 20:30

WWhat is the point of this share? - It's hugely discounted to Net Asset value yet all around other resource companies are near record highs. Bruce maybe a great value investor but it would be more reassuring for investors if he could start get the market to value for the business closer to reality.

Are we to conclude that Bruce's management warrants a discount?

[smilewithme] 22/5/2007 20:59

Drilling Continues To Expand Copper-Nickel-Pgm Mineralization
At Birch Lake, Minnesota

May 22, 2007 Spokane, Washington: Franconia Minerals Corporation (TSX-V:FRA) announces a fourth progress report on the on-going 2006-2007 core-drilling program at the Birch Lake copper-nickel-PGM (platinum group metals) inferred resource located in the Duluth Complex of Minnesota. This latest drilling has intercepted mineralization considerably thicker than the average 75 foot thickness of the deposit. Further, ongoing drilling continues to reveal mineralization that is generally similar to or higher than the average 0.59% copper, 0.19% nickel and 0.65g/t palladium, 0.32g/t platinum, and 0.14g/t gold values already found in this 100.4 million tonne inferred resource. Approximately 30% of the planned 23-hole 2006-2007 program has been completed.

Brian Gavin, Franconia's president comments, "Once again we are very pleased with these interim results from the in-fill drilling program, which will, in time, allow us to convert the current inferred resource to an indicated resource and provide samples for bench-scale and pilot plant-scale metallurgical testing. The recent drilling certainly continues to indicate thicker zones of mineralization with higher grades than the average for the deposit that was calculated in the most recent resource estimate."



The assay results from drill hole BL06-05 to BL06-7 further confirm the thickness and grade of mineralization in both the southern and central portions of the deposit (see map).

Core samples were prepared at the ALS Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples were analyzed for gold, platinum and palladium using a standard fire assay with an ICP finish, as well as for 34 base metals and trace elements using a four-acid (near-total) digestion and a combination of ICPMS and ICPAES. ICP over-limits were reanalyzed using sodium peroxide fusion and acid dissolution followed by ICPAES.

Birch Lake and the nearby Maturi deposit are the subjects of a recent independent preliminary economic assessment (see Franconia news release of October 3, 2006) prepared by Scott Wilson Roscoe Postle Associates to NI 43-101 standards (available at www.SEDAR.com). The preliminary economic assessment contemplates that a combined Birch Lake-Maturi operation would have, over a 26-year mine life, an average annual production of 74 million lbs of copper, 19 million lbs of nickel, 2.9 million lbs of cobalt, 68,000 ounces of palladium, 33,000 ounces of platinum and 7,300 ounces of gold. All technical data have been reviewed by Brian Gavin, Franconia's president and an appropriately qualified person as defined by NI 43-101.

Franconia Minerals Corporation trades on the TSX-V under the symbol FRA. (For additional information see www.franconiaminerals.com.) Following the financing Franconia will have 55,285,851 shares issued and outstanding.

[smilewithme] 18/5/2007 23:15

Congrats to myself..

Bought Franconia Minerals several years ago at 25 cents (11.65p), and have seen it close tonight in Canada at $3.99. (£1.85)

- 16 Bagger.

Indeed even from this June, 2006, at 31p, it is a six bagger.

[smilewithme] 17/5/2007 21:13

$3.75 All Time High

Brian Gavin must be talking to more people......

[smilewithme] 17/5/2007 17:24

FRA flying again...

3,300 shares for sale up to $5.25.

No one is selling !

[witteklip] 17/5/2007 15:08

topvest - 16 May'07 - 21:30 - 794

Topvest, what a prattish attitude you have - the large discount to NAV is in no ones interest. If something can be done to improve this situation then it should.

You too can invest elsewhere so what's your point? My holding is not insubstantial and I have been a long term holder for several years. I too am entitled to my opinion and all public company shareholders should be entitled to timely information and basic courtesy from management.

[topvest] 16/5/2007 21:30

If you don't like it your can always invest elsewhere. Bruce Rowan is very talkative to private investors in my experience. He doesn't respond to e-mail, because I expect he doesn't use computers! I agree that there has been a delay in reporting at Tiger, particularly compared with SVE. There may be a reason, I don't know. At the end of the day he has performed very well for shareholders and so I think it is hard to complain!

[witteklip] 16/5/2007 21:23

SKYSHIP - 16 May'07 Good letter I would appreciate hearing their response.

It would not be difficult or expensive for the company to put their holdings on their website with a rolling, 20 minute delayed update. That could help lift the share price closer to its value and provide a service to existing investors and encourage others to participate. Unless they're trying to accumulate holdings with stealth then I cannot see how that could be anything but positive for all concerned.

[skyship] 16/5/2007 17:16

Witteklip - I suspect you are right, though BR has been perfectly chatty in the past. Nevertheless, service to shareholders should be improved; and frankly there is no reason not to do so.

I've today written to the company brokers on the subject:

=========================================================

Corporate Finance Dept.
W.H. IRELAND Group plc
24 Martin Lane
London EC4R 0DR
ROYAUME UNI

16th May 2007

Dear Sirs

RE: TIGER Resource Finance (TIR)

I am a private investor in TIR, holding 875,000 shares in my SIPP & personal account.

I am writing to you as the Company brokers who presumably have some measure of influence over the Company's public reporting standards. Currently I find it extremely frustrating that:

1. Though TIR's business must surely represent one of the fastest and simplest audits of any UK listed company, still TIR reports more slowly than any other company I have ever encountered

2. TIR has adopted the policy of reporting the NAV quarterly and the portfolio just half-yearly. This parsimonious reporting makes it extremely difficult, actually impossible, for a private investor to make an accurate assessment of the TIR NAV in between the quarterly reports.

I wonder if you could please advise whether you have tried to prevail upon the TIR management the need to adopt a more investor-friendly reporting schedule, say monthly with both NAV & portfolio; and if you have not done so, whether you would now be prepared to seek such an improvement for announcement at this summer's AGM perhaps.

Yours Faithfully
=============================================================

[witteklip] 16/5/2007 12:13

SKYSHIP - 16 May'07 - 08:09 - 789

Thanks Skyship - for some reason I get the impression that Bruce and associates don't give too much of a hoot what small shareholders think. I have emailed the company in the past without response.

[zedder] 16/5/2007 09:44

It's exactly the same problem with SVE, if not worse as they don't give actual holdings even with Interims/Finals. I fully agree Skyship that there is no need for such secrecy.

[skyship] 16/5/2007 08:09

Witteklip - if you look at the Company Announcements you will see that the official NAV is now declared only quarterly. This would be less of a problem if they declared the portfolio at the same time as we could then more easily track the daily NAV.



Regretably however the portfolio is only declared half-yearly, making it very difficult for PIs to know the true value of TIR.

That half-yearly declaration will be with the Finals due any day now, but the portfolio will then be nearly 6months out of date.

Frankly it is a lamentable state of affairs and one the Company should rectify. There is no real need for such secrecy so I hope that all ahareholders on this thread will berate Bruce Rowan on the subject at the AGM and/or write to the Company. I will post further on this aspect after seeing the Finals statement.

[smilewithme] 15/5/2007 21:21

Congratulations Brian Gavin

Yet another All Time High for Franconia Minerals - closing at $3.19 (£1.46), in difficult markets.

There is definately some serious interest for this stock - $3.21 on the Bid, with no takers. Franconians extremely reluctant to sell.

And why should they since we may see the in-situ resource value doubling when Spruce Road 43-101 is published.....

[witteklip] 15/5/2007 21:12

SKYSHIP - 15 May'07 - 15:44 - 786

Is that as of today? My calculation was based on the advfn valuation which is clearly way out of date.

[skyship] 15/5/2007 15:44

witteklip - The NAV is c.6.3p - NAV discount is c.45%;or c.40% diluted for options. Exact figures not known until we see the portfolio declaration with the Finals due later this month.