Tri-star Resources Share Discussion Threads

[mibo1] 12/10/2022 18:59

Not at full production and not that simple.

[dr rosso] 10/10/2022 18:48

Companies House. Full update, signed off by Odey




To recap, if SPMP, now nearing full production, is worth £200m, TSTR's 16% holding takes on a value of £32m.
33p per share.

[mibo1] 14/9/2022 08:47

Tristar update has been issued

[jbog667] 12/9/2022 15:53

Odey makes good money on the performance fees of his funds so will want a decent price, and to prove this was not a terrible investment. My concern is that the Omanis only really want local jobs so have no incentive to generate profit or float the business. Views?

[bronislav] 09/9/2022 15:30

The roaster is where they want it to be now.The engineering aspect us sorted and once debt isvpaid off its a cash cow.The longer its producing and making money the more valuable the 16% becomes one would assume.
Maybe the buyout is closer than we think.

[mibo1] 09/9/2022 15:23

He's more likely to take a backhander and accept 1p a share

[dr rosso] 09/9/2022 15:18

That's 30p per share

[dr rosso] 09/9/2022 15:03

All rests on what Crispin Odey wants out of this He still holds 60% of Tstr, which means 10% of Spmp. If Omanis offer him £20m for what they believe is a £200m project, would he accept?

[mibo1] 09/9/2022 13:04

Yet zero updates from Tristar.
That means we are getting shafted.

[dr rosso] 09/9/2022 12:40

Spmp. 180 employees. Strong Management Team. New IT system engaged.16% stake in an attractive investment project.

[mibo1] 18/8/2022 14:42

First buyer on the books

hxxps://www.assetmatch.com/app/OurCompanies/CompanyProfile?companyId=1531

Been trying to chase up an update from Tristar but keep getting fobbed off.

[vipste] 16/8/2022 18:10

We have no clue on what the operating profit is at present or going forward. For all we know this could now be another of those inefficient state owned businesses which is used for local employment. Hopefully that isn’t the case and we realise a decent percentage of the targets that were originally set. Many expected this to be refinanced by now but I guess this couldn’t happen until production is consistent and a strong P&L is in place. I note DrRosso referring to a £1 a share then min 50p and now 35p....if we get our $30m loan back via refinance that would now be 25p ish at current exchange rate then our 16% of a business worth X on top. My concern remains what is it really worth right now and for the next X number of years until this debt is paid down? One thing for sure is this roaster must cost a hell of a lot more to build now than it did back then so surely that’s worth min $200m in itself as a facility alone?

[mibo1] 16/8/2022 14:22

Agree its not 20 million, but you just plucked a number from thin air you wanted to see.

[dr rosso] 16/8/2022 14:01

Not too difficult to have an educated guess on the value of 50k oz gold and 20kt antimony being processed. That is not a £20m operation.

[mibo1] 16/8/2022 11:10

But youre literally just making up numbers

[dr rosso] 16/8/2022 10:27

Complete nonsense that spmp has a valuation of £20m. Tstr's 16% stake is worth just £3m. Divide by 100m shares in issue, and there's our 3p.Listing of spmp would change this situation dramatically.

[mibo1] 16/8/2022 06:54

Fascinating...

[dr rosso] 15/8/2022 23:27

TSTR at 35p would mean a valuation of £220m for SPMP and its Oman roaster project

[mibo1] 15/8/2022 18:31

Its gone to 3.5p but no sign of any auction bids

[bronislav] 15/8/2022 14:36

Given his track record here dont hold your breath on newsflow.

[dr rosso] 15/8/2022 14:30

Odey just topped up his holding in Igas to 4%

[dr rosso] 14/8/2022 16:48

Odey, still holding TSTR shares to the tune of 10% of SPMP, has just contributed to Sirius Petroleum's raise of $15m of subordinate debt wrt Nigeria.No doubt he'll be wanting to see SPMP on an Exchange, along with Sirius or whatever is taking over

[bronislav] 30/7/2022 17:35

This new development suggests that the roaster is fully functional with historic gremlins now sorted.Sorting out a better debt deal will now one assumes be a much easier process and once that is sorted i can see SPMP coming to market and swallowing up tstr.
If SPMP own the technolgy rights rolling this model out in other jurisdictions could be a profitable option.