Trinity Exploration & Pr... Share Discussion Threads

[aimmafia] 03/8/2017 19:55

There's a nice hammerhead reverse screw driver appearing on the chart now. We should see 20p by end of this week.

[lw425] 03/8/2017 19:08

Right then lads.

We know cash balances as at 31 May 2017 of US$12.4m.



We know.......Following the successful fundraising completed in January 2017, and payments of creditor settlements, cash balances at the end of February 2017 had increased to US$13.0 million




So my concern is that between the end Feb and end May, cash balances fell by 600k.

Hang on a sec.... thought these guys were making loads of wonga?

Seriously though, the cash balance at end June will tell us all we need to know.

I'll wait for that number.

[wingspan] 03/8/2017 17:41

That's Mr Market to you...and most successful investors worldwide would beg to differ.

[dodgy callmedave] 03/8/2017 17:39

Good shs


Thank you derampers and MMs for nice entry price.

[bigboots] 03/8/2017 16:21

Market is never wrong...

[marvelman] 03/8/2017 16:18

" Subject to the satisfaction of payments due to the BIR and the MEEI under the Creditors Proposal, the Convertible Loan Notes may be redeemed by the Company;"

I would think by the time the notes mature the company will have sufficient cash to redeem them

[lw425] 03/8/2017 16:09

thanks guys. always good to engage in civil discussion.

[mark10101] 03/8/2017 16:05

· The Convertible Loan Notes are convertible, subject to the requirements of the City Code, by the holders at a conversion price of US$0.08125 at any time after the second anniversary of issue or on a sale of the Company or a material disposal

I think they are designed to be resolved on the sale of the company. They can't be converted for two years anyway.

[the big fella] 03/8/2017 16:04

LW - not sure what you are getting at. Looks fairly standard terms for me, and favourable terms given the company's dire position at the time of the fund raising. They cant convert for 2 years so unless we are going to be declared insolvent any time soon I can't see the relevance.

[lw425] 03/8/2017 15:53

Any thoughts re above post?

[lw425] 03/8/2017 15:53

The Convertible Loan Notes Subscription

In addition to the issue of the Placing Shares, the Company intends to issue Convertible Loan Notes to raise proceeds of US$3.275 million.

The Convertible Loan Notes will be unlisted. A summary of the terms of the Convertible Loan Notes is set out below:

· The sum repayable or convertible by the Company pursuant to the Convertible Loan Notes is US$6.55 million together with accrued interest;

· Interest shall accrue on the Convertible Loan Notes at a rate of 7.25 per cent. per annum;

· Subject to the satisfaction of payments due to the BIR and the MEEI under the Creditors Proposal, the Convertible Loan Notes may be redeemed by the Company;

· The Convertible Loan Notes will become repayable on the occurrence of certain events inter alia material breach of the terms or insolvency of any material Group company;

· The Convertible Loan Notes are convertible, subject to the requirements of the City Code, by the holders at a conversion price of US$0.08125 at any time after the second anniversary of issue or on a sale of the Company or a material disposal; and

· If not otherwise redeemed or converted the balance of the Convertible Loan Notes will be repayable in full on the seventh (7th) anniversary of issue together with accrued interest;

Completion of the Convertible Loan Notes Subscription will be conditional, inter alia, on completion of the Placing and Subscription. The Convertible Loan Notes will be unlisted and are not freely transferable save to certain permitted transferees.

[aimmafia] 03/8/2017 14:49

Took another 25k today

[mark10101] 03/8/2017 14:38

Ross I know you are value and today's price is not hugely relevant to you but the movement recently is not normal market movement. It could be someone has got wind of something they dont like and are selling what they can, however if there is a genuine seller they are very clumsy. The timing of their sells each time strength builds is foolish, let things bounce and offload into the rally. I suspect there are a lot of people watching Trin ATM and are not brave enough to jump in prior to a rally. As we have always found good up days the volume is much larger, surely the best time for a seller to offload discretely.

[jungmana] 03/8/2017 12:54

Good buying.been able to increase my my original holding by almost 50% since yesterday. As I said 10p is a gift hereGla

[astorcourt] 03/8/2017 12:45

75k top up for me

[jemjem] 03/8/2017 12:42

Hopefully same again :-))
I don't post here much because apart from a few obviously good posters, there are too many "loons" around looking for a fight.
Unless TRIN management have not done what they said they would, then I'm very happy accumulating around here.
Imo

[showme01] 03/8/2017 12:37

Jemjem. Nice to join you. Toon put me onto these and had a good run from 10p up. Same again :-)

[jemjem] 03/8/2017 12:36

Good to have you back toon. For my sins, I've been picking a few more up from 11p down to these levels. Short of it being a complete disaster somewhere, it looks to me like someone just wants out.
imo

[someuwin] 03/8/2017 12:35

I'm in for a few today.

[aimmafia] 03/8/2017 12:33

Lol. Crl is a wetwipe.