TKR - Triako Resources

[noirua]

Triako are one of the forgotten stocks in the gold sector. Confidence fell after Buka Minerals stake was sold at a low price and the 25% holding in Ausmelt fell in value. The gold situation is improving and some investors are now remembering this once high flyer with excellent management.

 

[noirua]

The value of Triako's holding in Ausmelt (AET) moved to $11.5 million as AET touched 57.5 cents.

 

[noirua]

Triako's share holding in Ausmelt ( AET ) have now risen to A$9.4 million, in accordance with their last Quarterly Report, and this equates to 28 cents a share: http://www.triako.com.au/Pdf_files/0603q.pdf

Triako have a 25% holding in Ausmelt.

 

[noirua]

TKR have crept up to $1.34 having been left out of the boom in gold stocks. The directors continued comments on selling the company and the sale of Buka minerals stock at low levels, hit the company hard. Picking up quickly now as the gold price adds real value to the reserves.

 

[noirua]

TKR have crept up to $1.34 having been left out of the boom in gold stocks. The directors continued comments on selling the company and the sale of Buka minerals stock at low levels, hit the company hard. Picking up quickly now as the gold price adds real value to the reserves.

This looks like one of the quickest sales/takeovers ever: http://www.asx.com.au/asxpdf/20060518/pdf/3wsv8sdywbmpf.pdf

 

[noirua]

Still hanging on to Triako Resources and waiting for a lift to nearer $2.00.

 

[noirua]

CBH Resources have ownly gradually increased their stake in Triako Resouces to 33.83% today. Despite CBH pushing out the offer date, they are unlikely to get far without increasing the present offer by at least 10%. HOLD OUT, there could be more on offer here.

 

[noirua]

TKR are up 5 cents to $1.38 this morning and CBH have moved to about 57% of the equity - they need 90% by 18th August.

Both CBH and Triako's Directors seem to be pushing everyone to accept; But should they?
The market seems to think that CBH were overvalued at the time of the offer and may know more than we are lead to believe.

CBH may well be being a bit stingy and hopefully many will hold out for a little more.

 

[noirua]

The basis of the offer by CBH for Triako made on 18th May 2006:

I share in Ausmelt for every 3.6 shares in Triako; 1 cent dividend for each Triako share; and 3.5 CBH shares for each Triako share.

Problem is that CBH shares have fallen to 36 cents from 50.5 cents and Ausmelt from 80 cents to 62 cents.
That equates to about $1.43 against the Triako price of $1.38.

 

[dubiousinfo]

Jim & Robert said to tell you this is as good as it gets.

 

[noirua]

CBH have extended their offer for TKR until 1st September; They are only moving very slowly towards 90% and should raise the offer that is worth well below the $2.00 they originally heralded as being so good.

The reason for the reduction in value of the offer is the fall in CBH shares themselves.

 

[dubiousinfo]

The SP of every single resource stock dropped heavily during the sell off in May it's only the CBH offer that has kept the SP of TKR propped up. If CBH withdrew the offer, the SP of TKR would drop to around $1.00.

 

[dubiousinfo]

CBH has now moved to 65%

 

[noirua]

TKR have moved to $1.75 this morning, "looking good".

 

[dubiousinfo]

CBH now hold just over 82%. Just 8% more & they can move to compulsory acquisition.

 

[noirua]

Mr Geoffrey Lord, a Director of Triako Resources, is holding out and has not so far accepted the offer by CBH, he holds 10.11% of the shares in Triako.

This offer is not really quite good enough and Mr Lord has the good sense not to accept. CBH well knows that the offer needs to be increased and holding out until November just shows their stubborn attitude as being a bit cheap.

 

[dubiousinfo]

Mr Geoffrey Lord, a Director of Triako Resources, is holding out and has not so far accepted the offer by CBH, he holds 10.11% of the shares in Triako.

This offer is not really quite good enough and Mr Lord has the good sense not to accept. CBH well knows that the offer needs to be increased and holding out until November just shows their stubborn attitude as being a bit cheap.

Mr Lord is part of the board who unamimously recommended the deal to shareholders & in the Tagets Statement, the directors stated that they ALL intended to accept the offer for their personal holdings.

Wouldn't look good now if one of those directors said the price wasn't good enough. He would probly be sued by shareholders.

 

[dubiousinfo]

CBH well knows that the offer needs to be increased and holding out until November just shows their stubborn attitude as being a bit cheap.

Thats not a nice thing to say about your new company

 

[noirua]

Thats not a nice thing to say about your new company

Well, I've just sold my holding in TKR, sadly, not at $2.00.

 

[dj_420]

why did you sell, did you not like the fundamentals of CBH??