OTCQX:DMMIF - Post by User
Comment by
Spiritflyeron Jan 29, 2020 1:08am
118 Views
Post# 30612109
RE:RE:RE:For those holding out
RE:RE:RE:For those holding outHey 1kgcoffee, Tried to post earlier but somehow it did not show up. I am not able to comment on your situation as it would just be speculation and not based on facts. And unlike Titan I like to base things on facts and not on non disclosure and manipulation. Speaking of which look at the end chart of their trading and you will see they closed at 12cents and the bid price is going down. Tad was correct with his figures, as far as I am concerned and Titan will quickly fall below 10 cents on its way to 5 cents a share. Right now with conversion, Titans 3.1 shares equals 33cents Canadian. They are quickly falling to where your price of 28cents trading for Core Gold will far outweigh the confetti shares of Titan. Do wish you and all the dissenters get what was promised and that they will have to pay you roughly 51cents Canadian for each Core Gold share. Right now the premium is not even 1-1/4 the price of a Core Gold share. Such a shame that we had crooked management.
Am sure all the sophisticated investors who bought diluted shares of Titan at 15, 16 and 18 cents a share are not too happy with what is going on. And sure when it hits 5 cents a share that their anger will grow. Karma is a b#tch and I feel the directors of Core and Titan, plus thier insiders who habituate on this blog, are all a bit quiet right now considering they are about to loose a fortune. After all the ponzi scheme of Titan borrowing from Peter to pay Paul won't fly with shares less than 10 cents, unless they do a further dilution ( of which I am sure they will) at a special price to sophisticated investors of 3 cents per share because they are headed to 5 cents and anyone can see it coming.
0.14 AUD 12:45
0.120.130.140.150.16Previous
close
0.16
10:00 a.m.12:00 p.m.2:00 p.m.3:00 p.m.4:00 p.m.
| Open | 0.16 |
| High | 0.16 |
| Low | 0.12 |
| Mkt cap | 70.03M |
| P/E ratio | - |
| Div yield | - |
| Prev close | 0.16 |
| 52-wk high | 0.27 |
| 52-wk low | 0.12 |
1kgcoffee wrote: Yes, but are we not entitled to 'dissent' and ask for fair value?
After all, this takeover happened under the premise that Titan minerals was worth 18cents a share. We should be entitled to that as a minimum cash settlement. I'm not sure how the delisting process works as I've never had a front seat to this sort of thing.
Spiritflyer wrote: Hey 1kgcoffee,
You may wish to hold onto your shares or not, but lets look at recent events. Titan shares bid price is down to 13.5 (see chart below) Australian, so convert that to Canadian and times by 3.1 (promised Titan shares for 1 Core Gold share) well 3 x13.5 Australian equals 37.32 cents Canadian, and this is before the rush to get rid of Titans shares as they have not been transferred yet. So it is a cr#p shoot but at the rate Titans shares are tanking, you may be better off to keep and sell your shares as Core Gold shares as, just a personal feeling, Titan will be lucky to hold 14 cents and do believe it will be 9 cents very shortly. Everything Tad had stated about their shares tanking the minute they started to trade has come true. Titan can't even give the promised 18 cents and never could, it is why they halted their shares for months, because if most the Core Gold shareholders realized tendering the shares would not bring about a premium, they would have never given them to Titan.
But dont forget, Titan will come in and buy some of their own shares over the bid price to try and prop it up. They have been doing this before the halt and it continues today. After all look at the first chart, and then in the second chart just moments later, magically their share price is up to 15cents though the bid is 13cents and the ask is 13.5 cents (scroll down to see second chart). The ASX has been repeatedly informed of such but choose to look the other way.
So really the premium is not 3.1 that of Core Gold, Its more like less than 1 1/2 times the value of a Core Gold share. So like everything else they spout off, Titan lied to Core Shareholders about the value they would be getting. I am just hoping that Core Shareholders get some premium before the end of Titan.
When Titans shares drop to 10.5cents they will equal the 28 cents Core is trading at.
TITAN MINERALS LIMITED
Metals & Mining
0.140
29 Jan 2020 Status- RE | DAILY-0.015-9.677% | DAILY VOLUME616,771 |
MARKET CAP
90.45m | BID0.135 | OFFER0.140 |
| # SHARES 583.55m | DIVIDENDS | Most recent | - | | Dividend ex-date | - | | Dividend pay date | - | | Franking | - | | Annual dividend yield | - | |
52 WEEK
LOW 0.140HIGH 0.270 |
| | |
Prices are at least 20 minutes delayed
0.150
29 Jan 2020 Status- RE | DAILY-0.005-3.226% | DAILY VOLUME641,771 |
MARKET CAP
90.45m | BID0.130 | OFFER0.135 |
| # SHARES 583.55m | DIVIDENDS | Most recent | - | | Dividend ex-date | - | | Dividend pay date | - | | Franking | - | | Annual dividend yield | - | |
52 WEEK
LOW 0.135HIGH 0.270 |
| | |
Prices are at least 20 minutes delayed
1kgcoffee wrote: Titan has over 80% of the shares tendered, supposedly. At a supposed price equal to 0.51 in terms of share value for one core share. Now, lets assume this is all in AUD. That's equal to 0.45.
Ladies and gentleman, does this mean that those of us dissenting are entitled to at least 0.45 CAD in fair value? Since that's what being put forward as the equivalent value? I don't think they can force us to tender. And they can't make our shares just dissapear when delisting. They are extending the period not to be kind to us, but in the hope that those of us remaining will capitulate and make it easier for them. Some have already. Not me.
For those holding out, what do you consider 'fair value'? With a float of 160 million shares, lets say 10% do not tender. Does this mean they have to pay out $8 million in cash? And where will they come up with the money?
Thoughts?