Tower Resources Share Discussion Threads

[chinahere] 23/2/2020 17:04

Here are the big holders and Director shareholdings:

Jeremy Asher 301,276,111 ----------- 27.6%
Peel Hunt LLP 143,628,693 -----------13.1%
Robert Finch 104,957,060 ------------- 9.6%
Lansdowne Partners 51,595,370 ------- 4.7%
Peter Taylor 18,451,726 ------------- 1.7%

The rest 43.3%

Of course there are also warrants and options mostly over 1p I think.

Anyone know if Robert Finch is an individual?

[jimarilo] 23/2/2020 16:25

OM, you are quite wrong, regardless of his 27%, JA has claim to 100% of the companies assets if they default on repayment. He also demands interest paid on the loan. So he is very well covered. The PI are the ones taking the risk

"The Facility will remain secured with a fixed and floating charge over the Company's assets with interest due of 1% per month (to be accrued and paid on repayment)."

Considering the current market cap of £5m, £750k is a snip and keeps old JA in the money

Hopefully the above will not come into play, but realising the risk is part of investing, as Chinahere has acknowledged

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[chinahere] 23/2/2020 13:43

Yes, I see the risk Jim thanks.

To me Jeremy's investments look like they are made by someone convinced in the project, rather than by someone who is trying to take the company over by stealth.

But I've learned from experience that you can never be sure!!

[soulsauce] 23/2/2020 12:38

Hi Mostro, no not in here but have made plenty of money from Trp over the years so always keep an eye on it.
Not in Pere at the minute either, temporarily sold out at 15p and 13.26p while the coronavirus is weakening the copper price.
Yes still favour Uog but disappointed in the raising for the transformational asset and that is what is holding it back.
Well done with Txp you have a good one there, big gas find.

All the best and good luck to you.

[oilmanmike] 23/2/2020 12:33

Jimbo you seem to have very conveniently forgotten all about Asher 27% equity stake in the company. The $750/- loan is secured against the Thali License which in itself inspires confidence in to asset.
Why is is that all you seem to do these days on here and the LSE board is have a dig.
GBP's day will come. Or is it's just that Asher said in the presentation Namibia farm out is on hold until multi client survey in Northern Walvis Bay is analysed.Has that put your nose out of joint. These is no room for these sentiments in this game and that is one of the hardest lessons to learn on AIM. you fall in love you lose cos you don't know when to head for the door. Simple as IMO.
Get over her and buy some here as I said before. You can always go back when the fun starts to wain here.

[jimarilo] 23/2/2020 12:01

My old China, "I see that Jeremy has repeatedly put his own money in which is unusual for AIM Directors."

JA has loaned the company and if the company fail to re-pay JA, he will own the lock stock and barrel for £750K.

Not exactly aligned with shareholders

[mostro] 23/2/2020 11:50

Hi Soulsauce, are you in here as well as PERE ( which has gone a bit quiet of late ). Do you still favour UOG, which never seems to move ahead much despite good news and progress?? Something holding it back?
FYO I am quite (very ) keen on TXP, and will be adding more on Monday after successful placing Friday and good news due soon. Still never more than 20% of portfolio value in one stock though, too risky on AIM.

Good Luck to you.

[soulsauce] 22/2/2020 21:26

No it's not.

[chinahere] 22/2/2020 19:51

Cheers Schachmester - it was your post on RKH that reminded me about TRP and after reading a bit I see that they are at a very interesting point in their history.

I liked the recent LSE video and I see that Jeremy has repeatedly put his own money in which is unusual for AIM Directors.

There is such a lot of potential here for the £5m market cap. - fingers crossed they can finally realise it.

[oilmanmike] 21/2/2020 11:39

100% agree on the 100% mark up before trade resumes.
Then it will do it again as people realise that the
first drill(80%COS)releases 3p of value and the second
will add the same again. As NJOM-3 is an appraisal well
reserves can be booked on success. These reserves can
be used as collateral for a loan to develop the field.
This unlocks massive cash flow allowing the other significant
targets to be drilled.

[schachmeister] 21/2/2020 10:59

Tower advancing again now as speculators take positions,Cameroon farm out could land anytime and this will be marked up 100%+ on the announcement.Its that Simple !

[oilmanmike] 20/2/2020 22:22

Thank you SMeister

[schachmeister] 20/2/2020 18:50

Informative summary of current events from OMM,he knows this share like the back of his hand and his posts are helpful to regulars and both new & potential investors.
I have to agree that New Age must be red hot favourites to partner Tower but there 'may' be others too as stated by JA. Exciting times ahead !

Welcome China, All the ducks are lining up here and the fuse will be lit when the Farm Out's announced !

[chinahere] 20/2/2020 15:04

Back in here after holding TRP absolutely ages ago.

Let's hope that this finally is the time that luck sides with Tower!

[oilmanmike] 20/2/2020 13:25

I agree with SMeister that details of a farm out will see this shoot to over a penny.
I suspect we will see the majority of the gain without seeing any RNS.

I did not attend the presentation my self but have watched it a couple of times on the net. JA seems confident that the farm out will get done and refers to discussions as "advanced" on several occasions as well as saying he is "very confident that a farmout will be done.

On a separate point the RNS on Wednesday morning had some key detail:

"Management's present view, subject to further work and confirmation of equipment availability, is that it would like to spud the well in the course of June 2020"

AND

"Some testing equipment will still need to be mobilised prior to spudding the well, along with personnel, and so this intended date is still subject to change."

Just looking at these two segments of the RNS tells me they are serious and are now moving forward at the expected pace. They have already asked about the Rigs latest lead time and await confirmation as well as testing equipment availibility. The key bit for
me is the reference to personnel which is IMO bedrock drilling and Phil "Flintstone" Church who are currently drilling in Gabon.
Now this is where it gets a bit interesting. Phil Church the guy who we (and presumably potential partners)has done a lot of successful drilling for New Age in the Cameroon.
JA specifically mentions this. Put that into the context that New Age already have a 50/50 jv with us in SA and are already expanding in the Cameroon and it would appear they are the secret Partner (or part partner)

And finally from the Wednesday morning RNS

"The Company has made considerable progress in farm-out discussions with a number of parties regarding some or all of the well funding, including exchanging draft term sheets, following a pause in discussions that took place while the Company was waiting for formal confirmation of the extension of the current exploration period of the Thali PSC. The Company believes that it will be able to complete a farm-out within its desired timeframe for the NJOM-3"


Adding it all up the evidence seems to suggest that this time the Green light really is on.

Let the lemmings sell. Some stop loss selling today the way it's been rushed IMO
bit of cheap stock around at around yesterdays lows. This will not last long IMO.
There are buyers around.

[schachmeister] 20/2/2020 11:15

A farm out alone will see this double or treble,depending on the terms,and there's a fair to reasonable chance that will happen in the next month or so..spud date should follow the farm in and push this even higher,one should not be underestimate the ballistic properties of micro oilies like trp,these tiddlers can go orbital rapidly on any positive news.

It seems Jim has fallen in love with his beloved GBP,big mistake,never fall in love with a penny share,treat them all with the contempt that they deserve and monetise,at least, some capital on any rises.

[mr hangman] 20/2/2020 10:37

Correct, it can sometimes be that easy !!

[schachmeister] 20/2/2020 10:31

Jim, I do not want to talk about 'doormant' companies,like GBP, It was your good self that was harping on about them yesterday both on here and the trp lse board.

I have scant interest in 'doormant' penny shares,I only invest in active ones that have near term (3/6months)prospects,like Tower have at Thali.Investing in doormant penny shares with blue sky is like buying a lottery ticket and that's not my game.

If you want to make money,invest in active micro's,like Tower,where you can expect a regular stream of newsflow over the coming months,which in turn,should create opportunities to return some capital gains.

[wildcat1] 20/2/2020 09:57

Whats that got to do with the price of fish ?

[mr hangman] 20/2/2020 09:53

Jimarilo, remind us, how many drills have GBP done in the last 10 years ?

[jimarilo] 20/2/2020 09:51

"Now remind me which project GBP are working on ?"

If you want to talk GBP you are on the wrong bb. Over 4 Bln barrels PEL29&94

The SB1 conference in Oslo on the 26th will give a steer to how things are developing in Namibia & S/A, also that evening a Frontier reception in London that evening also involving the regional players