Tad wrote: "The Market" does not care about Titan MInerals' "offer"
"The Market" has seen through the worthless confetti paper that Titan is once again offering.
Titan has 296,566,718 shares outstanding already, after yet another share consolidation (10:1) in
June 2019, a habit these people have executed at least three times in the past 5 years with the various the incarnations of Titan ......Mundo ...... and MInera ..... wiping out previous shareholders's equity stakes in the process.
Titan is clearly stating that the proposed "new company" would have 722,625,231 shares issued and oustanding. Then, in order to finance all the exploration work Titan claims they will do with the Ecuador assets ... they'd have to raise signifcant funds ..... so we'd most likely be looking at 900 million or a BILLION shares ..... and then, as per past history, Titan managament would do another share consolidation, perhpas 10:1 again and then do another financing with their friends and instittutional backers ... wiping out most or all of Core Gold shareholder's equity.
Have a look at the Pro Forma statement at the very back of Titan's 616 page circular on
pages D-4 to D-8.
Titan has stated they have approximately US$19,051,000 in total assets.
Note that total includes US$8,606,000 of "intangible assets" ... so exactly what are those ?
Another example of "goodwill" that Titan had entered in previous financial statements ? Goodwill that was eventual written down after enquiries from the ASX/ ASIC in April of 2019
So Titan claims $19,051,000 - $8,606,000 = US$10,445,000 in actual tangible assets
$10,445,000 X $1.49 exchange rate = AUS$15,563,050
$15,563,050 / 296,566,718 shares = AUS$0.052 per share
That is what Titan Minerals shares are actually worth, and as mentioned by others in past posts, Titan's share price is believed to be highly manipulated on the ASX ... the supposed "tangible assets" do not support the current share price is AUS$0.17, but would be more fairly valued at AUS$0.05.
If anything, the only reason that Titan MInerals shares continue to trade at AUS$0.17 is
based on pure speculation of the remote chance that Titan could possibly acquire the
severely undervalued assets of Core Gold
DO NOT TENDER YOUR SHARES TO THE TITAN MINERALS OFFER
GLTA