Tiger Royalties And Inve... Share Discussion Threads

[andonis] 20/4/2004 12:04

Does anybody know why the price has dropped so much today?....10%

[intrinsic investor] 18/4/2004 14:55

The price of Ivanhow has also been very resilient too.

For those looking for mining assets at a great discount, also with an AGM coming up, look at JIT.

II

[maestro.] 18/4/2004 11:40

i suggest everyone have the finger on the button tomoro...Minmets results expected to be good

[ntv] 18/4/2004 11:33

witteklip
a lot of potential investors are put of by the spread .though you might be able to buy well inside the spread ,when it comes to selling you will not get a quote much higher than bid price
maybe a 1:100 share consolidation would help,food for thought at the agm
probably can't buy its own shares back because BR has 29.99%?
as i said after the results ,i felt disappointed that tir had not benefited from the rise in the commodity markets by only posting a 64% increase in net assets per share.sounds impressive but when you bare in mind that a lot of small mining shares rose by over 100% and some by far more than that ,it turned out to be a far poorer investment than i expected
this was caused by the amount of cash they had in the balance sheet during a rapid rise in the commodity market
peter hambro mining was a far better investment
still looking for BR to prove himself in this particular vehicle

[witteklip] 15/4/2004 04:03

At these prices just accumulate - many people don't like the company size, the spread and the liquidity / volume and the company has a low profile. Apparently we should factor in a discount because its an invests in other companies rather than its own enterprise (?!!! - I thought diversity was good) -

I think as the company increases in value (as it will with the commodity cycle in an up-trend) it will eventually catch the eye of institutional investors or a predator - In the meantime it's a gift!

[andonis] 08/4/2004 19:27

HAPPY EASTER...May this fly higher and higher ....soon

[andonis] 08/4/2004 16:22

TIR is gathering momentum to break out of the 2.25 range which is going to be all time high! Bollinger Bands are narrowing and I expect in April something to happen.... lets see....

[andonis] 05/4/2004 09:02

SBF: Do you mind sharing those in here? I dont have those numbers.

[sbf] 04/4/2004 21:29

I have had a quick look tonight and reckon Tiger are about 3.32p per share NAV for the portfolio, cash, loans outstanding and warrants.

[maestro.] 04/4/2004 20:41

i see a big russian speculator has just bought a 20% stake in Gold Fields...his personal wealth is about $4 billion...not checked out the price recently though

[andonis] 04/4/2004 19:03

Looking at the charts TIR is due for an rise. it has gone low to end of 2003
levels. I expect a rise anyday now.

[wole] 02/4/2004 11:07

If Cluff's rally is sustained it will be really good news for TIR's NAV.

[ntv] 02/4/2004 09:52

not share price increase but an increase in nav
cluff res shareprice recovering after mining update
should also help nav

[andonis] 29/3/2004 23:26

NTV- How does this translate in share price increase?

[ntv] 29/3/2004 17:44

cambrian mining warrants gaining value fast over the last three weeks

[ntv] 12/3/2004 10:31

disappointed that results didn't show that they had made better use of their cash holdings during the year
saying that the whole company could be used as a mining shell or a shell for another purpose

[wole] 04/3/2004 10:33

There's very good buying momentum accompanying the price rise. Looks good in the short term.

[lafiamma] 04/3/2004 08:51

I was put off at first by the seemingly large spread, but you can nearly always buy and sell close to mid price at a spread close to 2 or 3%. If it doesn't let you do that on line, ring your broker and give him a good talking to!

[glmorris] 04/3/2004 08:49

Been watching this for a while, should have bought earlier, but am in now, perhaps the company should reduce the number of shares, maybe a 1 for 5 and then maybe it would be a little more attractive to investors, I think because its only trading at the 2 pence level, investors look at the price and walk away.

Certainly its a long term hold, just like Golden Prospect, if any on here are members of t1ps, perhaps drop an email to Evil via Tom and suggest he has a look at TIR. He is long GOL and quite a few gold stocks.

Is there much silver exposure in TIR's portfolio, I am expecting silver to outperform gold percentage wise.

[thecynical1] 04/3/2004 08:42

good post lafiamma. pity this doesn´t seem to get a lot of attention......

[still waiting] 04/3/2004 08:23

Anyone see any press write ups?

Continued trickle of buying this am.

[lafiamma] 03/3/2004 20:42

THIS IS AN OLD THREAD - THE NEW TIGER RF THREAD IS HERE:

[lafiamma] 03/3/2004 19:42

I've just updated my calculations, to show that at 2.25p, TIR trades at a 46% discount to current NAV...

Current Value (at 03/03/04)

Debtors + Cash – Liabilities at y/e = £2,581,310 (1.1p /share)

£ 266,852 LSE:AFE (21.5p)
£ 109,748 TSX:AGI ($2.55) [103.25p]
£1,399,500 LSE:CBM (63.5p)
£ 83,500 LSE:CLU (83.5p)
£ 467,370 TSX:FCO ($0.57) [23.08p]
£ 58,333 OFEX:FRA (3.5p) [warrants valued at 0p]
£ 70,231 NYSE:GFI ($12.3) [668.87p]
£ 611,929 TSX: IVN ($7.75) [313.81p]
£1,062,839 LSE:MNT (4.95p)
£ 192,667 TSX: PFN ($0.84) [34.01p]
£ 250,000 OFEX: RID (3.5p)
£ 266,000 LSE: TYM (20p)
---------------
£4,838,969

Current exchange rates:

CAN $ = £0.40491
U S $ = £0.5438

(There are 234.6million shares in issue)

Cash = £2,581,310
Loan Notes = £90,000
Investments = £4,838,969

The total Net Asset Value of Tiger Resource Finance is £7,510,279 or 3.2p / share.

Contribution
to N.A.V. : Company Name : (Number of shares held)

0.1137p African Eagle (1,241,174 shares)
0.0468p Alamos Gold (106,293 shares)
0.5965p Cambrian Mining (1,350,000 shares + 1,200,000 warrants @20p + 150,000 @50p)
0.0356p Cluff Mining (100,000 shares)
0.1992p Formation Capital Corp (2,025,000 shares)
0.0249p Franconia Minerals Corp (1,666,667 shares + 833,334 warrants @$0.09)
0.0299p Gold Fields Ltd (10,500 shares)
0.2608p Ivanhoe Mines Ltd (195,000 shares)
0.4530p Minmet plc (21,471,488 shares)
0.0821p Pacific North West Capital Corp (566,500 shares)
0.1066p River Diamonds Ltd (3,333,333 shares + 6,666,666 warrants @1.5p)
0.1134p Tertiary Minerals plc (1,330,000 shares)
---------------
2.0625p /share

(Warrants calculated as mid price of share – exercise price of warrant)

In addition, TIR holds 2 Loan Notes:

£40,000 MIT Ventures Corp Loan Note
£50,000 River Diamonds Ltd Loan Note

It is fair to assume that interest earned on cash & loan notes covers tax on gains & admin costs.

Most investment trusts trade at a 10-25% discount to their Net Asset Value. Let's be fairly conservative and apply a 25% discount to Tiger's Investment Portfolio, making no discount for cash assets.

We get a discounted NAV of £6,300,537 [£7,510,279 – (£4,838,969 x 0.25)] and share price of 2.69p

At the current share price of 2.25p, TIR is valuing the investment portfolio at £2,607,190 (after stripping out cash) – a 46% discount to the listed mid-price valuation.

[still waiting] 03/3/2004 19:21

At last this has woken up, well at least opened its eyes.

I bought these on the last attempted chart b/out (that didn't hold), hopefully we'll clear this 2-2.2p spread which seems to have killed it a bit.

3p should be attainable over the next couple of months!!

SW

[simonevans] 03/3/2004 19:09

£3m of cash is quite impressive - looks like BR is struggling to find value investments at the moment.