Trelawney Mining and Exploration Inc TWNNF

I can't believe...

[gamblor77]

All the ridiculousness going on with the GLD boad and all the people complaining, half of these people have NO clue what's going on and with their posting style and dumb statements most of them sound like they're 18 years old and used all their tuition money to invest in GLD on a gamble.

I understand they're pissed that some random "major" didn't throw 3x more money at them than they're currently worth and a lot of people are under water but suck it up. I'm sorry to be a pr*ck but honestly all the p*ssing and moaning and begging and pleading in the world isn't going to change the outcome. Don't tender at all but the 67% is based on outstanding options and warrants and a bunch of dilution that was supposedly not accounted for so that when it is accounted TRR owns less than a true 50% of the shares I guess.
Since the remaining GLD management probably holds a GOOD percentage of these options and other forms of dilution....and since they have all agreed that it's a "FAIR deal" (regardless if it is or not), there is a good chance that 67% will be reached.

In the name of "fair" I took some time on my own to check ALL the closing prices of GLD since Jan 1st of 2011 to Jul 11th (to see what the average was.)
You know what number I came up with?:  .33 CENTS, not 50 cents or 65 cent's or even the new equivelent of the .42 at the time of the new offer ....but 33 cents, that's for the 7 month average!!!
TRR is not paying for the "potential" of what "COULD" happen in 6-18 months they're paying for what GLD is worth RIGHT NOW.

They gave GLD a straight trade of 15% of the value of TRR in shares and honestly that WAS a premium. Because it is a straight share exchange you can compare market cap sizes and SPs directly. When the initial deal was offered GLD had closed at a week high of .27 the Friday before, whereas TRR closed at 4.87. If you do the math:  .27/4.87 * 100 you get 5.54% of the TRR value, not even close the 15% that TRR offered.

Just because GLD jumped to .315 AFTER the offer was put out (pre-market on Mon morning of Jul 11th) does NOT mean TRR was offering a completely sh*tty deal.

Even if you take the last 3 months of average GLD closing prices it's still in the .25 or less range. How the HELL is that TRR's fault that the SP traded that low for so long and allowed them the opportunity to make the deal in the first place?

They added 40% to the average share price in the initial offer and then bumped it up to 84% above the initial 23c average price in the second offer.
What is "fair" exactly? I realize people are pissed by this is BUSINESS not fantasy island. You're not going to get a 100-500% premium just because your red stock account tells you it's a bad deal. 84% is a massive premium as it is so WTF?
You're going to get what it's worth and "maybe" a little more if you're lucky. TRR very well could have offered the average SP straight across of .23c because it didn't appear to be going above 30 cents any time soon without a major catalyst.
Think of THIS when you think how "unfair" this deal is:
GLD management should have moved their @sses a little faster and gotthings together to keep the SP up. TRR was trying to negotiate for adeal for the past year but Mason wouldn't return their calls.  If he hadentertained their offers maybe you COULD have got .50c/share equivalent but instead he let the SP slide and tried to take the company in a maverick direction by steering away from the sexy TRR results and trying to focus on boring Jerome that nobody cared much about.

So it is what it is, the deal will most likely go through on the 12th and GLD shareholders will be pissed off and will just have to settle for less shares than they wanted but such is life. Sometimes investments don't go the way you want them to I'm sorry to say but an 84% increase in a month is a pretty good recovery to say the least. You think it would have rebounded anywhere near those levels without the offer? Keep dreaming.

P.S - For all you math geniuses out there saying TRR is only offering .34c....since you don't understand the concept of percentages. The ACTUAL offer as it stands on TRR's closing price today is .49c/share equivalent for the GLD shares. So if you REALLY think you're being ripped off you should maybe rethink the situation because .49 looks a heck of a lot better than the .37 GLD is currently inflated at.

GLTA TRR Longs.
Gamblor.